Brees Agrees to Extension With Saints
Despite worry that New Orleans Saints quarterback Drew Brees would be unable to reach a contract extension with the team, and that he would hold out of training camp unless one was reached, the two parties have come to terms on a five year, $100 million deal. If both sides agreed to continue through the full term of the contract, he would be the first player in league history to make $20 million per year.
The contract is incredibly front loaded, with his 2012 haul totaling a reported $40 million. Overall, the deal makes contains an NFL record $60 million in guaranteed money. If a deal was not reached by Monday afternoon, Brees would have been playing under the provisions of a franchise tender of just over $16 million.
In year two, Brees will make $15 million guaranteed with another $5 million guaranteed in year three, bringing his total to $60 million guaranteed in the first three years.
It sounds like a lot to invest in one player, but any amount is worth it for Brees, who completed 71.2% of his passes and set the single season passing yardage record with 5,476 yards.