The Chicago Bears and running back Matt Forte have reportedly agreed to terms on a four-year, $32 million contract according to league sources.

The Bears and Forte had until 4 p.m. ET on Monday to reach an agreement for a long-term deal. If they hadn't come to a conclusion, the Pro Bowl running back would have had to play the 2012 season under the $7.749 million tender or sit out the season.

The team's original offer to Forte was around $15 million guaranteed. However, Forte sought a deal that would put him in the company of Minnesota's Adrian Peterson ($36 million guaranteed) and Tennessee's Chris Johnson ($30 million guaranteed) among the league's  highest paid backs, according to the Chicago Tribune.

After missing the entire offseason, Forte is expected to rejoin the team for their first training camp practice on July 26.

Forte, 26, has 21 touchdowns on 1,014 carries. He averaged a career best 4.9 yards per carry last season.

Even after spraining the medial collateral ligament in his right knee Dec. 4, Forte still got selected to his first Pro Bowl, finishing with 1,487 yards from scrimmage and 997 rushing in his fourth season. Forte was the first Chicago running back to make it to the Pro Bowl since Neal Anderson following the 1991 season.

The Bears still have remaining contract issues to address, with star linebacker Brian Urlacher's contract up at the end of the season and quarterback Jay Cutler due for an extension.