Saints & Brees Agree On New Contract

ESPN reported Friday that the Saints and quarterback Drew Brees' contract standoff has ended, with the two sides agreeing to a five-year, $100 million deal.

Brees tweeted, "Deal is done.  Love you, Who Dat Nation.  See you soon."

Saints owner Tom Benson says the focus now shifts to reaching the goal of the Saints becoming the first team to host and win a Super Bowl.

The team says Brees will be available to discuss his new deal on Tuesday, July 24 when players report for training camp.

ESPN's Chris Mortensen says $60 million is guaranteed, a new NFL record. Brees will take home $40 million in the first year.

In 2013 and 2014, the Saints have a three-day window to release Brees after the waiver period begins.  If they do not, he is guaranteed payments of $15 million and $5 million respectively. Since releasing Brees is unlikely, that money is considered guaranteed dollars.

Brees would also get $1 million in salary in 2014 if he is not waived.

The remainder of the money would be paid out over the last two years of the contract, with the same waiver rules in effect.

Brees and the Saints had until Monday at 3pm to reach a long-term deal. If not, Brees could have played under a one-year franchise tender of just over $16 million. But reports surfaced that Brees would not report to traning camp without a new contract.

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