Carson Wentz is officially under contract. 

The No. 2 overall pick signed his rookie deal with the Eagles on Thursday afternoon, the team announced. The Eagles' seven other draft picks signed last week. 

The new CBA, which took over in 2011, has made contract negotiations for rookies much easier because of a slotted system - basically they're a formality now. Wentz became the first top-five pick to sign in 2016. 

Wentz's slotted deal will be worth around $26.7 million, with a signing bonus around $17.6 million, according to Spotrac. All deals for the first-round picks are for four years and also include a fifth-year team option. 

According to various reports, the deal with Wentz includes offset language, which is sometimes the only holdup in the negotiations for these rookie deals. Basically, offset language prevents a player from double-dipping if he's cut from one team and signs with another. According to ProFootballTalk, Wentz told the Eagles he'd agree to a deal with offset language before the team traded up to the No. 2 pick. 

The Eagles' rookie camp kicks off Friday and runs through Sunday. 

OTAs begin next Tuesday. That's when Wentz and Sam Bradford will start to share practice reps.