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Sources: Falcons, Jones reach record extension

The Atlanta Falcons and star wide receiver Julio Jones have agreed to a three-year, $66 million contract extension, sources told ESPN's Adam Schefter and Chris Mortensen on Saturday.

The entire contract is guaranteed -- with $64 million due at signing -- and ties Jones with the Falcons for the next five seasons, sources told ESPN.

The deal makes Jones the highest-paid wide receiver in the NFL in terms of guaranteed money. Jones will collect 97% of the contract at signing, surpassing the previous record for a non-quarterback (Trey Flowers, 74%).

Jones, a six-time Pro Bowl selection, had two years and almost $21 million remaining on his contract.