MIAMI GARDENS, Fla. — The Miami Dolphins signed quarterback Tua Tagovailoa to a four-year contract extension valued at a franchise-record $212.4 million, according to a media report Friday.

At an average of $53.1 million per year, Tagovailoa will rank third in the NFL in quarterback pay behind Jacksonville’s Trevor Lawrence and Cincinnati’s Joe Burrow. The deal includes $167 million guaranteed, eighth most among quarterbacks.

ESPN first reported the extension, attributing the terms to the agency that represents Tagovailoa, Athletes First.

The Dolphins did not announce the extension, though the team did post a video of Tagovailoa on social media Friday afternoon.

Tagovailoa was still playing under the contract he signed when the Dolphins made him the fifth overall selection of the 2020 draft. Tagovailoa was looking for a contract similar to those signed by Burrow and Justin Herbert, who were drafted the same year. After their rookie deals, Burrow and Herbert signed multiyear contracts in excess of $200 million.

Throughout negotiations, Tagovailoa participated in the team’s off-season workouts and participated in parts of the first few days of training camp. He was a full participant on Friday.

Tagovailoa, who sustained multiple concussions his first three NFL seasons, positioned himself for a big pay bump with an injury-free and productive 2023. He threw for 29 touchdowns and a league-best 4,624 yards.

The Dolphins reached the post-season but were eliminated in the first round by eventual Super Bowl champion Kansas City, extending to 24 years their stretch without a playoff win.

The contract extension will keep Tagovailoa with Miami through 2028.