Drew Brees and the New Orleans Saints officially finalized the All-Pro quarterback's five-year, $100 million contract on Sunday.
Just made it official. Contract is signed! #NOLALOVE twitter.com/drewbrees/stat…— Drew Brees (@drewbrees) July 15, 2012
Brees and the Saints reached an agreement Friday on the terms of a new deal, which includes $60 million in guaranteed money and a $37 million signing bonus. Brees will earn $40 million in the first year of the contract, and the $20 million yearly average salary makes it the NFL's richest.
The deal gives the Saints flexibility in the short term. With the bonuses counting against the cap on a pro-rated basis over the life of the contract -- $7.4 million per year in Brees' case -- Brees will only count $10.4 million against the Saints' salary cap in 2012.
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