Carolina Panthers quarterback Cam Newton and his team are reportedly near to finalizing and agreeing on his long-term deal, as per multiple sources.

ESPN revealed that Newton and the Panthers are close to reaching a deal that was previously expected to be sealed on Monday. The agreement will likely have Newton signed with the team until 2020.

Being the first pick of the NFL 2011 draft, Newton is already on his last year of his rookie contract with the Panthers, exercising the fifth-year option for the deal last year and making the quarterback $14,666,666 richer prior to his extension this year.

He is expected to make between $20 million and $21 million annually under his new deal, as per ESPN.

In a similar NFL.com report, NFL media insider Ian Rapoport mentioned that the agreement between the team "came together very quickly" as the two parties only had little progress last week.

"I'm told the guarantees are very real. This contract is going to look more like Tony Romo and Aaron Rodgers than, say, Colin Kaepernick and Andy Dalton deals of last year," added Rapoport.

According to ESPN, the quarterback's representatives are asking for a high percentage of the guaranteed money and "not tied to injuries or other clauses to increase the base value."

Miami Dolphins quarterback Ryan Tannehill got a four-year extension worth $77 million with $21.5 million guaranteed, so Newton is reportedly asking for a 40-50 percent since he is a first pick.

Yahoo Sports noted that Newton has made a fantastic run during his first four seasons in the NFL.

"He had one of the greatest rookie seasons in NFL history, throwing for 4,051 yards and 21 touchdowns and running for 706 yards with 14 scores on the ground," added Yahoo Sports.

Despite his amazing performance, Newton was also sidelined with injuries, especially when he got into a car acciden outside the Panther's facility last December.

When he signs a long-term contract with the Panthers, he is expected to perform better in his games with Yahoo Sports suggesting that "he still needs to work on the finer points of his game, especially consistency with his accuracy and play from the pocket."

That won't be a problem if he really sets his mind on reaching his goals. Yahoo Sports noted that he should be healthy and fit to join this season and that he should avoid sustaining injuries, which will obviously affect his attendance and performance in the games.

Many fans also expect him to rebound like he did for the first three seasons, so that he can become a better player, worthy of the extension given to him by the Panthers.