CHARLOTTE, N.C. (AP) — The Carolina Panthers and No. 1 overall pick Bryce Young agreed to a four-year contract, the team announced Friday.

A person familiar with the situation told The Associated Press the fully guaranteed deal is worth $37.9 million. The person spoke to the AP on the condition of anonymity because they weren’t authorized to disclose the terms publicly.

The deal comes just four days before the Panthers are to report to training camp in Spartanburg, South Carolina. All of Carolina’s draft picks are now under contract heading to camp.

The Panthers traded up with the Chicago Bears from the ninth spot to get Young, giving them a potential long-term solution at quarterback — a position where they have struggled to find stability for years.

The 5-foot-10, 204-pound Young won the Heisman Trophy in 2021 for Alabama, where he was a two-year starter for the Crimson Tide. He finished second in school history with 8,356 career yards passing and 80 touchdowns.

He took over first-team reps in OTAs and is tracking to be the team’s Week 1 starter.