Chiefs quarterback Trent Green reached agreement on a contract Thursday that will keep him with the team.

Green, who was scheduled to receive an $8 million roster bonus Friday, will now have a seven-year contract worth $50 million that includes an $11.25 million signing bonus.

Had Green not reached an agreement by Thursday, the Chiefs might have been forced to release him.

The Chiefs entered Thursday $1.6 million over the salary cap and they needed to clear room in order to be a player in free agency. A new Green contract was critical.

The 32-year-old Green came to the Chiefs in a trade before the 2001 draft.

After struggling some in his first season in Kansas City, Green rebounded with a strong 2002 season. Green threw for 3,690 yards and tossed 26 touchdowns as the Chiefs led the NFL in points per game at 29.2.

John Clayton is a senior writer for ESPN.com.