New Orleans Saints head coach Sean Payton told the media Wednesday he has agreed to a 5 year extension with the club.

According to ESPN NFL Insider Ed Werder, the new deal is worth more than $45 million.

Payton says he hasn't officially signed the contract yet, noting that it was in his brief case and his plan was to eventually sign on the dotted line.

Payton currently makes $8.5 million a year, tied for most by an NFL head coach with Seattle's Pete Carroll.

Payton was hired in 2006 by New Orleans. In 10 seasons (he didn't coach team in 2012 while serving season long suspension) with the Saints, he sports a record of 87-57 (.604), winning Super Bowl XLIV in the 2009 season.

He has been tied to quarterback Drew Brees since his arrival, as both joined the organization in 2006.

According to Werder, Brees' agent is in negotiations with the Saints on a 4 year extension. The 37 year old QB has one year left on his current deal. If he and Payton both sign extensions, they would be under contract through the 2020 season.