ESPN Reports Brees, Saints Agree To Record Contract
The five-year, $100-million contract guarantees the Saints signal caller $60-million, including $40-million this upcoming season. Brees made the following comments to 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."
If Brees and the Saints had not come to a deal by 3 p.m. on Monday, July 16th, Brees would have had the option of playing under the franchise tag designated by the organization or sit out the 2012 NFL season. His franchise tender for 2012 would have been $16.371 million, but sources say Brees would not have played the season under those terms.
The deal makes Brees the highest-paid player in NFL history. The actual contract signing hasn't yet happened, but that's just a formality.