(KGTV) -- Longtime San Diego and Los Angeles Chargers quarterback Philip Rivers is signing a free agent deal with the Indianapolis Colts, sources told ESPN.
Sources told ESPN NFL Insider Adam Schefter that the 38-year-old Rivers and the Colts agreed to a one-year contract worth $25 million.
Last month, the Chargers and Rivers announced they had mutually agreed to part ways after 16 seasons. Rivers made it clear he was not done playing and was looking forward to the 2020 season.
In 2004, the then-San Diego Chargers selected QB Eli Manning with the first overall pick before trading his rights to the New York Giants for the rights to Rivers, who was chosen three picks later.
The North Carolina State product took over as starting quarterback in 2006, going 14-2 in his first full season under center.
Rivers holds 30 Chargers franchise records. His 224 consecutive regular-season starts are second-most among quarterbacks in NFL history and his 123 wins are ninth. He is one of six quarterbacks to eclipse 50,000 career yards.