Report: Saints, Brees reach $44.25M, 2-year guaranteed extension
The New Orleans Saints and Drew Brees have reached an agreement in principle on a contract extension, according to multiple reports.
Brees' new deal is for five years, but automatically voids to a two-year commitment, ESPN's Adam Schefer reports. The star quarterback will reportedly make a fully guaranteed $44.25 million through 2017.
The unique contract structure gives the Saints much-needed flexibility against the cap this season, most notably lowering Brees' cap number from an NFL-record $30 million, to $17.25 million, ESPN's Ed Werder reports. The deal also includes a no-trade clause, guaranteeing Brees will remain with the team for the duration of the contract, unless he opts to retire.
As with many deals under the current Saints regime, the team is effectively deferring cap commitments to future years.
Either way, the agreement brings an end to the uncertainty surrounding Brees' future, and ensures he'll remain with the club for at least the next two seasons.
Should he continue his high level of play, it's also possible the two sides get together and discuss another deal for 2018 and beyond.
Brees has been one of the league's most productive quarterbacks since joining the Saints as a free agent from the San Diego Chargers in 2006. He's started all but two games over the past 10 seasons, leading the team to a Super Bowl XLIV title and making his way up the all-time passing leaderboard.
The future Hall of Famer enters his 16th season with an impressive 60,903 career yards, just behind Dan Marino (61,361) for third in NFL history.