Smith, a former newspaper beat reporter who rose to fame by pioneering the art of the sports debate show, has agreed with ESPN on a new five-year, $100 million contract, a person familiar with the matter confirmed to CNBC. The deal was first reported by The Athletic .

ESPN has agreed with Stephen A. Smith on a new contract that will pay the bombastic sports commentator $100 million over five years and allow him to scale back his network appearances so he can focus more time talking about politics,

Stephen A. Smith officially agreed to a five-year contract extension worth over $100 million with ESPN on Thursday. The deal bumps the 57-year-old's annual salary from $12 million to $20 million, and keeps him as the face of First Take while freeing up the rest of his schedule to " talk even more about politics ."

Smith will continue to star on ESPN’s morning show “First Take,” while continuing to host his YouTube show and flirt with politics.

Stephen A. Smith is one of the most powerful sports commentators in the world. His influence, pointed comments, and knowledge of the NBA and other sports has helped him build up his wealth.

ESPN’s Stephen A. Smith is getting a raise. Smith, a featured commentator and executive producer of the sports network’s morning sports talk show “First Take,” signed a new five-year deal with the network,

ESPN's Stephen A. Smith has revealed he now no longer has to seek the network's permission to discuss certain topics outside of sports after signing a new deal with the broadcaster

ESPN proved that again on Thursday. According to a report from The Athletic's Andrew Marchand, ESPN and Stephen A. Smith, one of sports media's biggest personalities, have agreed to a new five-year contract that will pay him "at least" $100 million.