NFL Commissioner Roger Goodell’s contract was extended for three years, the league announced Wednesday.

"The Compensation Committee updated the full ownership today that an agreement has been reached to extend Commissioner Roger Goodell’s contract for three years, through March 2027," the league said in a statement.

The exact compensation Goodell will receive is not known. Pro Football Talk speculated that he could earn around $60 million per year.

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Roger Goodell at London Experience

Commissioner Roger Goodell at the NFL Experience London at the Battersea Power Station on Oct. 7, 2023. (Kirby Lee-USA Today Sports)

The first inkling that Goodell was going to receive an extension came in March when the league’s compensation committee was expected to propose the extension to team owners for approval. Indianapolis Colts team owner Jim Irsay said in May the deal was "virtually done."

With the NFL’s financial success, ESPN reported earlier this year that Goodell’s extension is expected to be incentive-laden but also the most lucrative deal a commissioner has gotten in any sport. It will also be his fourth extension since taking over as commissioner in 2006.

It was speculated that Goodell’s 2017 extension would be his final one, especially after the tumultuous process it went through. Dallas Cowboys owner Jerry Jones even threatened a lawsuit against the league, which eventually resulted in him being fined. 

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Roger Goodell meets with soccer managers

Commissioner Roger Goodell Tottenham attends the NFL international match at the Tottenham Hotspur Stadium, London, on Oct. 8, 2023. (Simon Marper/PA Images via Getty Images)

However, Goodell has kept the peace among owners and players after facilitating the league’s collective bargaining agreement, which was ratified in 2020 and goes through the 2023 season. That includes changes to the league’s revenue distribution, increases in player benefits and health, as well as safety improvements.

It also led the league to add an extra game to the regular season.

Goodell’s efforts also aided in the billions of dollars that were gained for media rights from FOX, CBS, NBC, ESPN, Amazon and now YouTube, which will have the league’s Sunday Ticket package for games.

Goodell’s tenure hasn’t all been smooth, though. Player safety remains a high concern for the league, particularly in the area of concussions. While the NFL was slow to acknowledge the effects of the game on current and former players, recent instances, including the situation with Miami Dolphins quarterback Tua Tagovailoa this past season, brought about more controversy within the sport regarding the proper steps taken when head injuries occur.

The lack of diversity among NFL head coaches, general managers and team presidents is something that Goodell has said is "unacceptable" but remains an issue.

ESPN added that this could be the final deal for the 64-year-old Goodell.

Roger Goodell at Chiefs gmae

NFL commissioner Roger Goodell visits with referees before kickoff between the Kansas City Chiefs and the Detroit Lions at GEHA Field at Arrowhead Stadium on Sept. 7, 2023 in Kansas City, Missouri. (Cooper Neill/Getty Images)

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The league could look into finding a potential replacement for Goodell, as his predecessor, Paul Tagliabue, was 65 when he passed the torch, and Pete Rozelle before him was 63 when he stepped down.

Fox News’ Scott Thompson contributed to this report.