2:26pm: After undergoing further tests, Newton has been diagnosed with two transverse process fractures in his lower back, and no further internal injuries, according to the team (Twitter link). The injury is similar to the one that sidelined Tony Romo for one game earlier this season.

1:35pm: Newton “is in fair condition and undergoing tests at Carolinas Medical Center and will remain there overnight for observation,” the Panthers have announced in a tweet.

12:22pm: The Observer has passed along a photo of Newton conscious and smiling following the accident (Twitter link). Meanwhile, WBTV in Charlotte is reporting (via Twitter) that Newton was taken to the hospital as a precaution and didn’t suffer any major injuries.

12:09pm: A Charlotte-Mecklenburg police officer confirms to Jones (Twitter link) that Newton was driving the vehicle that overturned, and that the Panthers QB was able to communicate before being loaded into an ambulance.

12:04pm: Panthers quarterback Cam Newton was involved in a car wreck today near Bank of America Stadium, according to a report from the Charlotte Observer. A car – believed to be Newton’s – crashed and overturned on the Church Street bridge in Charlotte. Per Jonathan Jones of the Charlotte Observer (via Twitter), Newton was placed onto a stretcher and taken to the hospital.

It’s not clear yet whether Newton is seriously injured or whether the trip to the hospital is precautionary, but we’ll pass along details as soon as they become available.

The Panthers – and their quarterback – are coming off their best game of the season, a 41-10 drubbing of the division-rival Saints, which saw Newton throw for 226 yards and three touchdowns and run for another 83 yards and a TD. At 4-8-1, the team is a half-game out of first place in the NFC South.

2011’s first-round picks became eligible for contract extensions last offseason, and a handful have already signed new deals, including J.J. Watt, Tyron Smith, and Patrick Peterson. While No. 1 overall pick Cam Newton has yet to re-up with the Panthers, the team has made it clear it views Newton as its franchise quarterback, according to Ian Rapoport of NFL.com. And, as Rapoport tweets, Newton has informed the club that he’s not interested in a contract structured like Colin Kaepernick‘s extension.

Kaepernick’s contract appeared on the surface to be extremely lucrative, with a base value of $114MM and substantial guaranteed money. However, most of those guarantees turned out to be for injury only, leaving the Niners on the hook initially for only about $13MM in fully guaranteed money. That gives San Francisco the opportunity to get out from the pact within a year or two without taking on much dead money, if the team so chooses.

After Andy Dalton signed a similarly structured long-term deal with the Bengals, it became fair to wonder if the next wave of QB extensions would follow the Kaepernick model. However, in my view, those were unique cases, given Kaepernick’s relative lack of starting experience and Dalton’s lack of success in the postseason. Neither player was a first overall pick like Newton or Andrew Luck, and neither player had won a Super Bowl like Russell Wilson, so it stands to reason that those three young signal-callers shouldn’t have to settle for Kaepernick-esque extensions.

According to Rapoport, Matt Ryan‘s contract with the Falcons may serve as a point of comparison for the Panthers and Newton. Ryan’s deal has a smaller overall value than Kaepernick’s, but it’s for one fewer year, and features much more fully guaranteed money — the five-year pact is worth $20.75MM annually, with $42MM guaranteed.

For now, the Panthers have Newton under contract for the 2015 season for a salary and cap number of $14.666MM, after exercising his fifth-year option. The team would also have the opportunity to use its franchise tag on him in 2016, though I’d expect both sides will be interested in working out a more permanent arrangement sooner rather than later, so perhaps negotiations will intensify during the coming offseason.