The Saints and star quarterback Drew Brees have agreed on a new five-year, $100 million contract.
Citing sources, ESPN’s Chris Mortensen said the deal, which will make Brees the highest-paid player in NFL history, includes $40 million guaranteed for the 2012 season and $15 million in guaranteed earnings for 2013.
Another $5 million is guaranteed in the third year of the contract in 2014, pushing the guaranteed total to an NFL-record $60 million.
The previous record contract was given to former Indianapolis Colts quarterback Peyton Manning, who received a five-year, $96 million deal — and $19.2 million average — from the Denver Broncos in March.
Emails sent to Saints General Manager Mickey Loomis and Vice President of Communications Greg Bensel seeking confirmation of the agreement were not immediately returned Friday afternoon.
Brees, however, took to Twitter shortly before 1 p.m. to announce that he had agreed to the long-term contract, which, according to rules for franchised players, had to be completed by July 16.
“Deal is Done! Love you, Who Dat Nation. See you soon,” he tweeted.
The 33-year-old Brees received an exclusive franchise tender offer from the Saints on March 3, which would have paid him $16.371 million for the upcoming season.
But the two-time NFL Offensive Player of the Year and Super Bowl XLIV MVP who shattered Dan Marino’s longstanding NFL single-season record for passing yards last fall, wanted to work out a long-term deal that would keep him with the club possibly for the remainder of his career.
Brees, who has produced six record-breaking seasons for the Saints since signing a six-year, $60 million contract with the team in March 2006, balked at playing for the franchise tender because his career nearly came to an end while playing on a one-year franchise tag with the San Diego Chargers in 2005.
Mortensen reported earlier this week that Brees would not report to training camp on July 24 without a new contract. According to sources, Mortensen said the Saints were offering $19.25 million a year while Brees and agent Tom Condon were seeking a deal averaging $20.5 million per season.