CHARLOTTE, N.C. -- Receiver Steve Smith agreed to a three-year contract extension with the Carolina Panthers on Tuesday in a deal that will keep him with the team through the 2012 season

His agent, Derrick Fox, said he wasn't authorized to release exact figures, but said Smith's new deal makes him among the five highest-paid receivers in the NFL.

The 28-year-old Smith had three years left on a six-year, $27 million contract. He was scheduled to make $3.l, $3.6 and $4.2 million over the next three seasons, but now will make significantly more.

"I would like to retire here and be the first or second Panther in the Hall of Fame," Smith said.

Smith had been hoping to get a new deal for some time and the Panthers had made a long-term deal one of their priorities after releasing veteran receiver Keyshawn Johnson last week.

"Obviously it's very important," general manager Marty Hurney said. "He's a tremendous player and he's our kind of person. I think he's a force in the community. It's the kind of player we want here as a Panther. When you have the opportunity to have a guy like that to come in as a Panther and hopefully finish as a Panther, I think that's unique these days."

Smith, a three-time Pro Bowl selection, led the NFL with 103 catches for 1,563 yards and 12 touchdowns in 2005. Fox said negotiations with Hurney began after that season.

"When he had the Triple Crown season, Marty came to us and said he had outplayed his contract," Fox said. "But it was a hard process, because he was just two years in (to the six-year deal)."

Smith's numbers declined last season. He missed the first two games with a hamstring injury, and finished with 20 fewer catches, 400 fewer receiving yards and four fewer touchdowns as Carolina went 8-8.

Offensive coordinator Dan Henning was fired, and Smith said at last weekend's minicamp that he was pleased with new coordinator Jeff Davidson's offense. Davidson had said he wanted to find new ways to get Smith the ball.

"This offense, it's not new, it's just a lot of new wrinkles," Smith said. "Obviously it's going to open up a lot more for the run. Teams are going to have to commit guys less on me and more in the box. So that's going to get me, I feel, a little bit more one-on-one coverage. I work good one-on-one. I'm not into the threesomes."

A Los Angeles native, Smith had humble beginnings. He went to junior college before transferring to Utah, then became Carolina's third-round pick in 2001 and was used primarily as a kick returner as a rookie.

Despite being 5-foot-9, Smith became Carolina's go-to receiver in its Super Bowl season in 2003 and a star two years later.

"I'm living out my dream. A knucklehead from L.A.," Smith said. "It's that feeling where you're waiting for someone to wake you, up and nobody's been waking me up because I'm up already. It's just a dream. I'm living it and I'm loving it. I'm taking it all in and I'm grateful for it."
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