The Browns issued a press release on the matter in their official website:
"The Cleveland Browns on Tuesday agreed to terms with QB Johnny Manziel. General manager Ray Farmer made the announcement.
"The Browns now have come to terms with four of their six 2014 draft selections.
"The 6-0, 210-pound Manziel was selected with the 22nd overall pick, the second of the Browns' two first-round selections.
"He compiled a 20-6 record as a two-year starter at Texas A&M before foregoing his final two years of eligibility.
"He completed 595 of 863 passes for 7,820 yards with 63 touchdowns and 22 interceptions. Manziel added 2,160 rushing yards and 30 scores. He amassed 9,989 yards of total offense, an average of 384.9 per game.
"He became the first freshman to win the Heisman trophy and was the finalist the following year. Manziel also became the first player in school history to throw for 3,000 yards in back-to-back seasons (3,706 yards in 2012 and 4,114 in 2013).
"Manziel, who hails from Kerrville, Texas, graduated from Kerrville High School."
Mary Kay Cabot of The Northeast Ohio Media Group says Manziel's deal is worth approximately $8.25 million with a $4.318 million signing bonus, citing spotrac.com:
"The Browns have agreed to terms on a deal with No. 22 overall pick Johnny Manziel, the club announced.
"Manziel received a four-year deal worth $8.25 million, including a $4.318 million signing bonus and $6,702,625 million guaranteed, according to spotrac.com. The deal averages $2,061,813 a year.
"The only two Browns draft picks still unsigned are No. 8 overall pick Justin Gilbert and No. 35 overall pick Joel Bitonio.
"Manziel heads into training camp as the No. 2 quarterback Brian Hoyer.
"Browns coach Mike Pettine stressed last week that Hoyer is 'securely ahead' of Manziel heading into training camp next month and will be No. 1 on the depth chart, but that his lead is not 'insurmountable' for Manziel.
"'It's been hard to evaluate, because Brian hasn't been able to take the 11-on-11 reps, but when we put the depth chart together, Brian will be No. 1,' Pettine said at the conclusion of mandatory minicamp.
"Pettine agrees with general manager Ray Farmer that Hoyer, eight months removed from knee ligament surgery, is substantially better than Manziel right now -- but that Manziel can catch up during the open competition in camp."
ESPN's Pat McManamon confirms the value of Manziel's deal and also stresses the first-year quarterback is slated to earn more from his endorsement deals, specifically Nike:
"Terms were not released, but the NFL rookie wage scale projected Manziel's deal to be worth about $8.25 million for for years. Like all first-round picks, his contract also includes a fifth-year option.
"Manziel's NFL income may actually pale in comparison to his endorsement income, especially from Nike. Manziel signed a multiyear deal with Nike in March, and the company very soon after (it) started selling Manziel apparel similar to what he wore at his NFL pro day workout in front of fans.
"Maverick Carter, the marketing manager for LeBron James' management team of LRMR, is representing Manziel for his marketing and endorsement deals."