Odell Beckham Jr. and the Giants are "closing in" on a five-year contract extension, according to the NFL Network's Ian Rapoport.

The deal is worth $95 million with $65 million guaranteed and will make Beckham the highest-paid receiver in NFL history, according to ESPN's Josina Anderson. Mike Evans previously held the record after signing a $82.5 million contract in March.

Beckham's new deal will pay him an average of $18 million per year according to ESPN's Dan Graziano. The contract includes a full $65 million injury guarantee, and a $41 million guarantee at the signing of the deal. The first three years of Beckham's extension will pay him an average of $19.5 million.