The New Orleans Saints could not afford to let uncertainty surrounding Chris Olave's future linger much longer.
They made sure it won't. And now, he's being paid like one of the NFL's premier receivers. The Saints and Olave agreed to a four-year contract extension worth up to $132 million, including $90 million guaranteed. The deal carries a maximum average value of $33 million per season.
That figure would make Olave the NFL's sixth-highest-paid wide receiver by average annual value, tied with Pittsburgh Steelers WR DK Metcalf. He also becomes the 12th at his position ever to surpass the $30 million-per-season mark. Here are the receivers currently ahead of Olave:
- Jaxon Smith-Njigba, Seattle Seahawks: $42.15 million per year
- Ja'Marr Chase, Cincinnati Bengals: $40.25 million per year
- Drake London, Atlanta Falcons: $35.26 million per year
- Justin Jefferson, Minnesota Vikings: $35 million per year
- CeeDee Lamb, Dallas Cowboys: $34 million per year
- Chris Olave, DK Metcalf: $32.9 million per year
Though Olave's contract averages the same as Metcalf's, the Saints WR received $30
million more in guaranteed money. Garrett Wilson and AJ Brown follow them at $32.5 million and $32 million, respectively. The exact rankings could change once the complete structure of Olave's contract becomes available. The reported $132 million is the deal's maximum value. Incentives and other mechanisms could affect its practical average.
Still, Olave has been placed firmly in the top tier of NFL receiver contracts. He's in the same category as some of the game's best, which means that the Saints believe in the talent for the long haul. That commitment also provides stability for second-year quarterback Tyler Shough and the rest of a young Saints offense. New Orleans has invested heavily in building around Shough; retaining his top target ensures that the offense won't need to undergo any major transitions.
This article originally appeared on Saints Wire: Where Chris Olave's new contract ranks among NFL's highest-paid WRs
