Report: Cousins turned down 5-year deal worth around $20M per year

Kirk Cousins is set to play out 2017 on the franchise tag, and the quarterback reportedly rebuffed a lowball offer from the Washington Redskins in May.

Washington offered Cousins a five-year contract extension worth an average of around $20 million per year, a source told NFL Network's Tom Pelissero.

Only the first two years of the contract would have been guaranteed, Pelissero added.

The offer was unlikely to entice Cousins to sign. He's already set to earn nearly $24 million fully guaranteed under the tag in 2017, so the extension would have essentially added just one year of security while locking the veteran pivot into a below-market average salary.

Cousins and the Redskins are both reportedly OK with him playing under the tag this campaign, and the 28-year-old is apparently open to re-signing with Washington - despite rumors he'd look to force an exit in the upcoming offseason.