The Saints and Drew Brees have reached agreement on an extension, according to a team announcement. The new deal is technically for five years but automatically voids to two, as Ed Werder of ESPN.com tweets. Thanks to what is effectively a one-year extension, Brees will be committed to the Saints this year and next only for $44.25MM guaranteed. He’ll earn $20MM in 2016 and $24.25M next season.
The deal includes no-trade protection and also prohibits the Saints from using the franchise tag on him. At ~$22MM per year, Brees’ new deal probably less than market value. But, the veteran gave up dollars in exchange for fiscal security and a no-trade clause. Brees was said to be seeking a four-year deal worth $100MM, but that was likely just posturing by his agents.
Prior to the extension, Brees was slated to count for $30MM against the Saints’ 2016 cap. Now, his cap charge has been reduced to $17.5MM (Twitter link).
The 37-year-old is coming off his eighth straight season with at least 30 touchdown passes. He also eclipsed the 4,800-yard mark for the fifth consecutive year. During his ten-year run in New Orleans, Brees has missed just two games while leading the Saints to a 94-64 regular-season record. He has guided the Saints to five playoff appearances and a Super Bowl title to cap off the 2009-10 campaign. Along the way, Brees has thrown 348 touchdowns, recorded four 5,000-yard seasons, made eight Pro Bowls, and established himself as the Saints’ all-time best player.
Photo courtesy of USA Today Sports Images.