The San Francisco 49ers have signed Colin Kaepernick to a six-year extension worth as much as $126 million.

Kaepernick will receive $61 million in guaranteed money, which is the highest amount ever awarded to an NFL player.

Kaepernick is now under contract through 2020 and is just behind Aaron Rodgers' annual average of $22 million.

The 49ers and Kaepernick's agents were able to agree to terms in just one day of negotiations.