The Indianapolis Colts and T.Y. Hilton have agreed to a new five-year, $65 million contract, according to a report from ESPN's Adam Schefter.

T.Y. Hilton, Colts agree to new five-year contract

The Indianapolis Colts were hoping to get a brand new contract done with star wide receiver T.Y. Hilton ahead of the 2015 NFL season, and they were able to do just that. According to a report from ESPN’s Adam Schefter, the Colts and Hilton agreed on a five-year contract worth $65 million.

Colts gave WR T.Y. Hilton a five-year, $65 million deal, per source.

— Adam Schefter (@AdamSchefter) August 13, 2015

Hilton has been a huge part of the Colts turning their franchise back around, and he is without question capable of helping them get back to the Super Bowl. He is Andrew Luck’s favorite target, and is one of the most dominant up-and-coming receivers int he entire league. Indianapolis needed to get him locked up in order to stay at the top of the NFL in passing offense, and this deal is a good one for both sides.

During the 2014 season with the Colts, Hilton ended up catching 82 passes for 1,345 yards and seven touchdowns.

At 25 years old, the talented wide receiver out of Florida International still has plenty of room to grow. He is just entering into his prime, which sets the stage for what could very well end up being the biggest season of his career. General manager Ryan Grigson knows just how dominant Hilton is capable of becoming, which is why this deal was such a priority.

Perhaps the most dangerous part of Hilton’s game, is the ability that he possesses to make plays anywhere on-the-field. He can get past defensive backs and make plays deep down-the-field, or he can make plays over the middle or in the screen game. His skill-set gives offensive coordinator Pep Hamilton a lot to work with, and there aren’t many receivers that are capable of making that type of an impact.

All of that being said, this is a huge move for the Colts and Hilton to get a new deal done. Neither side will have to worry about contract talks throughout the season, and Indianapolis is keeping their young nucleus together. It is going to be a very exciting season for the Colts and their fans, and their potential is through the roof.

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*Featured Photo (above) credit to USA TODAY Sports