Quarterback Drew Brees reached a long-awaited contract extension with the New Orleans Saints on Wednesday, just four days before a Week 1 kickoff against the Oakland Raiders and a self-imposed deadline.
Functionally, it’s a one-year, $24.25 million extension for Brees. Brees was due $20 million in 2016 on the last year of his old deal, so he’ll now make $44.25 million over two seasons, all fully guaranteed.
Technically, it’s a new five-year deal, but it automatically voids after the 2017 season. A full breakdown wasn’t immediately available, but that structure likely means Brees received a large signing bonus, which can be spread out for cap purposes over a longer span and lower his monster $30 million cap number this season.