Shockey will receive a new seven-year deal — essentially a five-year extension, as he had two years remaining on his rookie contract — worth $30.1 million. That includes $10.8 million in new money over the first three years of the deal and $11.9 million in total bonuses, with $10.5 million of that essentially guaranteed.
In just over three seasons with the Giants, Shockey has caught 200 passes for 2,346 yards and 12 touchdowns.
His biggest season so far was his first, as he caught 74 passes for 894 yards and was voted to both the All-Pro team and the Pro Bowl.
Shockey was beset by injuries the last two seasons, but still managed to earn Pro Bowl honors in 2003. He appears to have regained his rookie season form this year; in just four games, he has 17 catches for 251 yards and two touchdowns.
"It's been a very quiet negotiation," Shockey's agent Drew Rosenhaus told the Associated Press. "People think all of our deals are loud and obviously they're not. You have to credit the Giants for extending Jeremy's contract. The Giants just felt that he deserved it."