Carolina Panthers tight end Greg Olsen is set to sign a two-year extension with the team, per ESPN’s Adam Schefter.

The deal is worth $8.55 million annually, but it could potentially go up to $10.05 million due to incentives. The former would put him into the top five highest-paid tight ends in the league, and the latter would bump him up to No. 1 ahead of Green Bay Packers tight end Jimmy Graham.

Olsen, 33, has been auditioning for a potential gig as an NFL television analyst this offseason. While he declared his commitment to playing on, he did say a week ago that he wanted a contract extension, which he now has.

Olsen missed his first regular-season games since his rookie year last season as he missed nine games due to a broken foot. He ended up playing just seven games, catching 17 balls for 191 yards and one touchdown.

That injury snapped Olsen's impressive streak of three consecutive 1,000-yard seasons. He had also averaged close to 80 receptions during that span as he made the Pro Bowl in each of those three years.

Despite Olsen’s absence for half the year, the Panthers still managed to make it back to the playoffs. Ed Dickson stepped up in the starting tight end role as he had 30 catches for 437 yards.

But with Dickson leaving in free agency, Olsen should return to his role as a big part of the Panthers offense this upcoming season. Olsen is currently the lone tight end on the Carolina roster with any sort of consistent playing experience.