updated 12:52 p.m. ET Dec. 16, 2004

ALAMEDA, Calif. - Sebastian Janikowski finalized a $10.5 million, five-year contract extension with the Oakland Raiders on Wednesday that makes him the highest paid placekicker in the NFL.

Janikowski will receive $2.8 million in guaranteed money, his agent, Paul Healy, said.

“He’s definitely happy,” Healy said. “We’d been going back and forth for months and we got it done. It’s a good situation. The Raiders made it a priority. They committed to Sebastian, and he’s happy to be a Raider again.”

“We finalized it today,” Raiders’ senior personnel chief Michael Lombardi said.

The 26-year-old Janikowski, the Raiders first-round draft pick in 2000, has converted all but three of his 22 field-goal attempts this season for the Raiders (4-9). He is 112-for-140 in his career.

He hit a 52-yarder during Sunday’s 35-10 loss at Atlanta and has made one other beyond 50 yards this season. Janikowski kicked a game-winning 19-yard field goal with six seconds remaining in a 27-24 victory at Carolina on Nov. 7.

He has eclipsed the performance standards in the initial eight-year deal he signed as a rookie in 2000, allowing him to void the final three years of the contract and become a free agent after this season. The Raiders decided to keep him with an extension rather than test free agency.

Janikowski’s streak of 39 straight field goals from within 45 yards ended in a loss at Houston on Oct. 3 when he pushed a 35-yarder wide right.

MORE FROM AFC WEST (DEN, KC, OAK, SD)

PFT: Charger's family thinks sister's boyfriend shot him

PFT: Charger's family thinks sister's boyfriend shot him Chargers RB from Philly wounded in shooting Former Chiefs lineman in accident that kills 1 Suspect in slaying of Broncos player in court   Add AFC West (Den, KC, Oak, SD) headlines to your news reader: