Drew Brees and the New Orleans Saints waited until the 11th hour. But they finally agreed to contract extension Wednesday, according to league sources -- four days before the quarterback's self-imposed Week 1 deadline.
The extension will be announced as a five-year deal but contains an automatic void to two years, sources told ESPN's Ed Werder, meaning Brees is contractually committed to Saints for this season and next only. His $20 million salary this season and $24.25 million for next season -- a total of $44.25 million -- is fully guaranteed, the sources said.
The deal also includes a no-trade clause and forbids the Saints from using their franchise tag on the quarterback. In essence, the Saints get Brees under contract for one additional season but by spreading the contract over five years they significantly reduce Brees' $30 million cap hit for 2016, which was the highest for any player in NFL history.