Boyd is signing a four-year, $43 million extension, Adam Schefter of ESPN reports.
Boyd broke out for 1,028 receiving yards and seven touchdowns in his third NFL season despite missing the final two weeks with an MCL sprain. He returned healthy for the offseason program, now locked in as the No. 2 pass-game option in a Cincinnati offense with serious depth concerns at both wideout and tight end. Boyd did his best work last season when A.J. Green (toe) also was in the lineup, averaging 6.1 catches for 79.7 yards and 0.6 touchdowns on 8.2 targets in the nine games both receivers were active for. Boyd averaged 4.2 catches for 62.2 yards in the five games he played without Green, though Andy Dalton's absence was probably the bigger factor contributing to a mini-slump late in the season.