POSTED: Friday, July 13, 2012 - 9:12pm
UPDATED: Friday, July 13, 2012 - 9:57pm
Drew Brees has agreed to a five-year, $100-million contract with the New Orleans Saints, with $60 million guaranteed, said a person familiar with the deal.
Brees and the team Friday reached the agreement, which will pay the quarterback $40 million in the first year, the person told the Associated Press on condition of anonymity because the contract had not been publicly announced.
Brees skipped the Saints' offseason practices while holding out for a new long-term contract that now makes him the highest-paid player in NFL history.
Brees had been tagged as the Saints' exclusive franchise player and could not negotiate with other teams.
Brees did not want to play for a one-year deal.
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. his 67.8 percent completion rate spanning the past six seasons also tops the league.
Brees' new deal tops the previous benchmark contract for elite QBs set by with the five-year, $96 million deal Denver gave earlier this offseason to Peyton Manning, who is three years older than Brees and sat out last season while recovering from neck surgery.