Gun forward Joe Daniher says Essendon's improved performance and the new AFL pay deal helped to seal his contract extension.
The 23-year-old has committed to stay with the Bombers for another three years, having started the season in career-best form.
He will be a restricted free agent when his contract expires at the end of 2020.
With 35 goals, Daniher is equal-third in the Coleman Medal tally and is delivering on the potential he had teased in his first four seasons.
Coach John Worsfold had described locking away the father-son recruit as the Bombers' number one list management priority, and it had been widely expected he would sign on.
Both parties had been awaiting the AFL's new collective bargaining agreement, which has freed up considerable salary cap space for every team.
"That was really important, obviously. I had to wait for that to get done or at least agreed upon," Daniher said on Tuesday.
"You've got to do your due diligence in situations like that.
"For me, being an Essendon person and growing up at the football club, I always intended to spend a lot of time here.
"I'm really thankful that the club put a lot of faith in me since I got here as a young player and I'm glad they continued that."
Part of the puzzle was finding out how the Bombers would perform after finishing bottom of the ladder last year.
With 10 players back from doping bans, the 11th-placed Dons have been patchy at times but Daniher said there had been more than enough positive signs to justify staying on.
"It was always going to be a little bit of an unknown, like the last few years have been," Daniher said.
"To see the guys come back in a fresh state of mind and really attacking the season has been really pleasing.
"We're on the upward trend and going in the right direction."
Essendon will now turn their attention to new deals for emerging midfielder Darcy Parish and speedster David Zaharakis.
The Bombers are also keen to land a big-name free agent, with Richmond superstar Dustin Martin thought to be their chief target.
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