The Houston Texans have picked up Deshaun Watson’s fifth-year option, extending his contract through the 2021 NFL season. After earning a $1.17 million salary in the 2020 season, the quarterback will make approximately $17.3 million the following year.

A few days before Houston officially exercised Watson’s option, ESPN’s Ed Werder reported that the two sides had “very preliminary” discussions about a contract extension. ESPN’s Dan Graziano said on “NFL Live” Tuesday that the Texans have let Watson know that they want him to remain with the team for the long term, but neither Houston nor the quarterback is in a rush to move toward a new deal.

The Texans can theoretically ensure that Watson remains with the team through the 2023 season without giving him a multi-year deal. Houston will have the option of using the franchise tag on Watson in both 2022 and 2023 if no contract is agreed upon.

It stands to reason that the Texans will want to lock up Watson for several more years. Houston traded up 13 spots in the 2017 NFL Draft to pick the former Clemson star 12th overall. Watson was a 2018 and 2019 Pro Bowl selection, leading the Texans to a division title in both seasons.

Watson won his first postseason game in January with Houston. He’s gone 24-13 as the Texans’ starter over three seasons, posting a 101.0 passer rating. Watson had 3,852 passing yards, 26 passing touchdowns, 12 interceptions and 635 rushing yards last season.

If he remains healthy, Watson is likely headed for an enormous payday. Russell Wilson leads all players with a $35 million average yearly salary. There’s already speculation that Patrick Mahomes, who was selected two picks ahead of Watson, will eventually sign a $200 million contract with the Kansas City Chiefs.

Houston signed left tackle Laremy Tunsil to a three-year, $66 million contract last week. Tunsil became the league’s highest-paid offensive lineman by a significant margin.

The Texans sent wide receiver DeAndre Hopkins to the Arizona Cardinals earlier this offseason in a trade that gave Houston running back David Johnson. The Texans also traded for receiver Brandin Cooks.

Hopkins was arguably the AFC’s best receiver. He averaged 105 catches, 1,371 yards and 10 touchdowns per season with Watson on the team.

Houston general manager and head coach Bill O’Brien might have traded Watson’s top target in part because he didn’t want to give Hopkins a contract extension.

Houston quarterback Deshaun Watson threw for one touchdown and ran for another to lead the Texans over visiting Buffalo 22-19 in over-time in Saturday's opening game of the NFL playoffs
Houston quarterback Deshaun Watson threw for one touchdown and ran for another to lead the Texans over visiting Buffalo 22-19 in overtime in the opening game of the NFL playoffs. GETTY IMAGES NORTH AMERICA / Christian Petersen