Drew Brees, New Orleans Saints finally agree to five-year, $100 million contract!!
The Who Dat Nation can finally breathe. Drew Brees and the New Orleans Saints agreed to a five-year contract worth $100 million on Friday, as first reported by ESPN's Chris Mortensen, making the 33-year-old quarterback the highest-paid player in NFL history.
Brees later confirmed the deal on Twitter, saying, "Deal is Done! Love you, Who Dat Nation. See you soon!"
And he later told ESPN's Ed Werder:
"I appreciate the diligence and steadfast efforts by both sides to get this deal done. I love my organization, team, and the city of New Orleans. Thank you especially to (owners) Gayle and Tom Benson for the opportunity. Now I need to go earn it."
Brees is expected to do a radio interview tonight in New Orleans but isn't planning any other interviews until a press conference, likely Sunday.
The average salary of $20 million surpassed the $19.2 million per year that the Denver Broncos gave quarterback Peyton Manning earlier this year. ESPN reported the deal is worth $40 million in the first year, with $60 million guaranteed in the first three years.
The deal won't cause any salary-cap problems for the Saints in 2012. Brees' cap number for 2012 will reportedly be $10.4 million, which is significantly lower than the $16.4 million he was already costing this year (the size of his one-year franchise tag offer). And the team could easily structure his long-term deal in a way that keeps his cap figure the same or lower.
ESPN reported that Brees will be guaranteed $40 million in the first year, including signing bonus and salary. Pro Football Talk reported the signing bonus is $37 million. According to ESPN, the Saints will have a three-day window to release him following the 2012 season. Assuming they don't, another $15 million will be fully guaranteed. Then in 2014, they'll have another three-day window to release him, or else another $5 million will be fully guaranteed. He'll also earn a $1 million salary that year, making the deal worth $61 million over the first three years.
According to Pro Football Talk, Brees will receive $40 million in 2012, $10 million in 2013, $11 million in 2014, $19 million in 2015 and $20 million in 2016. His salary cap numbers will be $10.4 million, $17.4 million, $8.4 million, $26.4 million and $27.4 million.1
The deal came two days before Monday's deadline for franchise-tagged players to reach long-term contracts. And it came just 11 days before the Saints are scheduled to report to training camp. Brees missed the Saints' entire workout program during the high-stakes contract standoff, which lingered for months until the deadline pressure finally kicked in.
Although the contract talks were intense, they aren't expected to cause any lingering resentment from either side. This was a win-win deal that both sides were always hoping to reach, even if they squabbled over a few million dollars here and there. Expect a lot of positive comments from both sides today and a lot of optimism about the 2012 season.
Brees can now turn his focus toward following up one of the greatest statistical seasons in franchise history. He helped raise his historical market value last season by throwing for a NFL-record 5,476 yards while leading the Saints to a 13-3 record.
No comments:
Post a Comment