Brees agrees to $100M deal

Brees agrees to $100M deal

By BRETT MARTEL
The Associated Press
Published: Saturday, July 14, 2012
Last Modified: Saturday, July 14, 2012
NEW ORLEANS - Drew Brees and the Saints reached a deal on par with the quarterback's record-setting play, giving New Orleans' fans some news they can celebrate after an offseason rife with turmoil.

The team announced Friday that it had agreed to a five-year contract with Brees. A person familiar with the deal said it's for $100 million, with $60 million guaranteed.

The deal will also pay the quarterback $40 million the first year, the person said.


Brees had been tagged as the Saints' exclusive franchise player and could not negotiate with other teams.

Had a deal not been reached, the tender for a quarterback was worth $16.3 million. Brees would have had to play for that amount or hold out for a better one-year deal.

Brees skipped the Saints' offseason practices while holding out for his new long-term contract, which now gives him the highest average annual pay ($20 million) in NFL history. Buffalo defensive end Mario Williams also has a $100 million contract, but for six years.

Now Brees is set to report for the opening of Saints training camp on July 24, a needed dose of good news for a club whose offseason has been plagued by the bounty scandal that resulted in the season-long suspensions of head coach Sean Payton and linebacker Jonathan Vilma, among other sanctions.
The contract, which includes a $37 million signing bonus, also gives the Saints more flexibility under the NFL's salary cap. Because bonuses count against the cap on a pro-rated basis over the life of the contract — $7.4 million per year in Brees' case — the quarterback will cost the club only $10.4 million against the cap in 2012. That gives Loomis nearly $6 million more in wiggle room to manage the entire roster than if Brees had played for the franchise tag.

During the past six seasons, Brees has not only led the Saints to their only Super Bowl title, but has completed more passes (2,488) for more yards (28,394) and more touchdowns (201) than any other quarterback in the NFL.