We've been waiting for this for a while now.
After months of rumors that the San Diego Chargers were shopping Philip Rivers in a trade to the Tennessee Titans for the #2 overall pick, which have only really slowed down now that it's evident that the Titans are asking for the world in return (and might get it), it appears that the team is finally ready to hold on to their star QB through the final year of his contract and hope that it doesn't end up screwing them in the long-term.
Rivers has expressed some displeasure with the idea of moving to Los Angeles, if that is indeed where the team is headed, but it seems like he has no issue with staying in San Diego.