Saints wide receiver Chris Olave has been part of trade speculation leading up to the Nov. 4 deadline. Olave said earlier this week that he’d like to stay with the Saints, though, and he may get his wish. New Orleans is trying to sign Olave to a contract extension, Dianna Russini of The Athletic reports.
As a former first-round pick, Olave’s rookie contract comes with a fifth-year option. The Saints exercised Olave’s option last spring, meaning they don’t have to worry about losing him to free agency until after 2026. He’s due to earn $15.49MM next season.
The fact that Olave comes with a season and a half of team control undoubtedly helps add to his appeal for teams seeking help at receiver before the deadline. It should also up his trade value from the Saints’ point of view. As it stands, the 1-5 Saints have just five picks in next year’s draft. Dealing Olave would likely add to the total.
While Olave has already amassed 230 catches and 2,907 yards at the age of 25, there are red flags with the former Ohio State Buckeye. After combining for 159 receptions during back-to-back 1,000-yard seasons to begin his career, he missed nine games last year as a result of two concussions. Olave has come back this season to record team highs in catches (39) and targets (64) with quarterback Spencer Rattler at the helm, but he has averaged a personal-worst 8.8 yards per reception (down from a career 12.6).
The 11th player off the board in 2022, Olave has seen the 10th and 12th selections (also receivers) from that draft class sign extensions. After a wildly productive first three seasons, former Olave college teammate and current Jet Garrett Wilson inked a four-year, $130MM deal with $90MM guaranteed last July. Shortly before the season began, the Lions signed Jameson Williams to a three-year, $83MM pact with $67MM guaranteed.
If he lands an extension, Olave won’t come close to the mammoth Wilson contract. On the other hand, based on his superior career production, he at least has a case to approach Williams’ deal.
Williams played in 18 games in his first two seasons and caught just 25 passes. He missed four games in his second year a result of a gambling suspension. The former Alabama standout enjoyed a breakout 2024, grabbing 58 of 91 targets for 1,0001 yards and seven touchdowns. However, he did miss two games because of a PED suspension. Despite two suspensions, Williams secured a lucrative payday with only 83 receptions, 1,396 yards, and seven scores on his resume over 33 games.
Thanks largely to his off-field issues, the Lions took a risk in locking up Williams. Considering his recent problems with concussions, the Saints would be doing the same in Olave’s case. With Olave tied to his fifth-year option, general manager Mickey Loomis isn’t under any immediate pressure to either extend or trade the wideout. Nevertheless, Olave will remain a name to watch as the deadline draws closer.
The next headline we see of him will be announcing his trade