The deal is worth roughly $20 million over five years, a source told Ian Rapoport of NFL Network. Butker was already under contract for one season, so he's now tied to the club through the 2024 campaign.
Butker, 23, has converted 89.9 percent of his field-goal attempts over his first two NFL seasons. A seventh-round pick of the Carolina Panthers in 2017, he latched on with Kansas City that same year after Carolina waived him.
The approximate $4-million average annual salary puts Butker in the top 10 among kickers.