Report: Browns increase offer to Anderson to 3 years, $20 million

With the deadline to tender restricted free agents looming, the Cleveland Browns are continuing their efforts to secure quarterback Derek Anderson with a contact extension.

The Browns' latest offer is a three-year deal worth $20 million, with $10 million guaranteed, according to the Columbus Dispatch. There are indications that an agreement could be struck Wednesday or early Thursday, according to reports in both the Dispatch and the Cleveland Plain Dealer.

Anderson is scheduled to become a restricted free agent on Friday, and he can either accept the Browns' offer, or take a one-year tender worth $2.52 million. With the tender, the Browns would be able to match any other team's offer to Anderson, or receive first- and third-round draft picks if he ends up with another team.

Anderson, 24, who won 10 games and threw for 3,787 yards and 29 touchdowns in his first season as a starter, began the 2007 season as the backup to Charlie Frye
. He ended up taking over and was a Pro Bowl alternate.

Anderson reportedly received an earlier offer from the Browns for three years and $16 million, with $11 million guaranteed, according to the Dispatch, but he turned it down. However, Anderson has to weigh the cons as well -- he would be leaving as much as $17 million on the table if he doesn't accept the Browns' latest offer.

Information from the Associated Press was used in this report.