Photo: Streeter Lecka/Getty Images
Chris Mortensen of ESPN.com is reporting that Drew Brees has signed a 5-year, $100 million extension with the New Orleans Saints (via Twitter). The two sides had until Monday to get a deal done or risk Brees sitting out training camp and possibly the season.According to Mortensen, the deal is worth $40 million the first year and the $60 million guaranteed is a record for an NFL contract. The two sides were reportedly $10 million apart on the guaranteed money, with Brees looking for added security in the new deal.
The Saints had placed the franchise tag on Brees, but Brees had made it clear that he would not sign the offer, and would instead hold out.
Business Insider Emails & Alerts
Site highlights each day to your inbox.