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As Buffalo News staffer Mark Gaughan reported it this morning, the Bills took a big first step toward having a good offseason today by re-signing receiver Stevie Johnson to a five-year contract extension.

“It’s a great feeling,” Johnson said. “It’s like a blessing to be in this organization. This is where I want to be. Everybody knows that.”

Gaughan went on to suggest the deal keeps the Bills’ top receiving weapon in the offense and gives the team a chance to improve an attack that ranked 14th in the NFL last season. The deal also allows the team to retain a player who arguably is the most recognizable player on the roster.

Johnson, a seventh-round draft choice in 2008, has blossomed into a major threat. He caught 82 passes for 1,073 yards in 2010 and followed it up with 76 catches for 1,004 yards last season. He has 17 touchdown catches the past two years.

Adam Schefter of ESPN reports that the deal is for five years and $36.25 million. As Profootballtalk.com's Josh Alper noted, the $7.25 million average annual value places Johnson on a tier below the top receivers in the game, which seems right given the differences between him and guys like Calvin Johnson and Larry Fitzgerald.

It’s also a good deal below the franchise tag of $9.4 million.

But Schefter further noted (and Gaughan confirms), the contract guarantees Johnson $19.5 million and calls for Johnson to receive $24 million over the first three years of the deal. There’s no detail as to the nature of those guarantees, i.e. whether they are fully or partially guaranteed and how much is to come via a signing bonus. Johnson’s deal could look different once that information comes to light.

Either way, as Alper points out, Johnson made himself a fair chunk of change on Monday.

Meanwhile, with the free agent signing period a week away, the Bills are expected to be looking at wideouts.

Bills G.M. Buddy Nix recently said another “big time receiver” to pair with Johnson would be ideal, but there is a specific element to Buffalo’s passing game that has been in short supply. Deep speed. Don't be surprised if that's the area of focus.