The wait is over: Chris Olave and the New Orleans Saints have agreed to terms on a big-money contract extension to keep the star WR in New Orleans for the foreseeable future.
The deal will be for 4 years and up to $133 million, according to a report from ESPN. The max value would place the average annual value at about $33 million per season, landing in the same range of fellow 2022 draftees Drake London ($35 million per season) and Garrett Wilson ($32.5 million per season).
Olave has been present for the entirety of the first two days of training camp, but he's declined to participate in full team drills as the deal was worked out. Both sides had indicated throughout the process that they were confident a deal would get done. The Saints had already picked up the 5th year option on his deal, which would've paid out more than $15 million for a 1-year deal in 2026.
The contract means financial security for Olave, who delivered big in the 2025 season with career highs in targets (158), catches (100), yards (1,163) and touchdowns (9). He showed significant chemistry with young QB Tyler Shough in the second half of last season, going over 100 yards in back-to-back wins over the Titans and Jets before missing Week 18 due to a blood clot issue. It was a massive turnaround from the health and concussion concerns that ended his third NFL season after just eight games, with Olave admitting that he mulled retirement before returning to the field.
The Saints initially drafted Olave No. 11 overall in the 2022 draft, and he's delivered three 1000-yard campaigns in his first four NFL seasons despite a revolving door at the quarterback position. The deal marks the latest in a series of major investments on the offensive side of the ball this offseason, including big-money contracts for RB Travis Etienne and LG David Edwards, as well as spending the No. 8 overall draft selection on WR Jordyn Tyson.
The Saints will be back on the field for the third day of training camp on Friday, with Olave presumably a full participant.
