Now that the Houston Texans have reached a contract agreement with Fresno State quarterback David Carr, Nike has finalized a multi-year endorsement deal with the soon-to-be No. 1 pick in Saturday's NFL draft.

Under the head-to-toe agreement, Carr will wear the Nike swoosh in his off-field appearances, Nike spokesman Scott Reames told ESPN.com on Tuesday. The swoosh does not have to be covered up on Carr's shoes during games, since Reebok's apparel deal does not include footwear.

Sources with knowledge of the deal peg the deal to be worth between $250,000 to $300,000 a year, commensurate with the deals of other players projected to be among the first 10 picks in this weekend's draft. Carr could earn more in incentives based on his personal and team performance, sources said.

Carr agreed in principle to a seven-year contract with the Texans that essentially ensures a guaranteed payout of $16.25 million over the first three years, more than the $15.3 million guaranteed in the first three seasons of the contract signed by last year's top pick, Atlanta quarterback Michael Vick. In terms of bonuses -- including an initial signing bonus of around $11 million -- and base salaries, Carr's deal with the Texans totals $46.25 million. There are escalators and other bonuses that could push its value to $60 million.

Nike has thus far reached agreement with at least seven players from the NFL class of 2002. Those players include Oregon quarterback Joey Harrington and running back Maurice Morris, Tennessee wide receiver Donté Stallworth, UCLA running back DeShaun Foster, Oklahoma safety Roy Williams and Boston College running back William Green.

Darren Rovell, who covers sports business for ESPN.com, can be reached at darren.rovell@espn.com