When you think about the New Orleans Saints, you think about Drew Brees. It’s basically impossible not to. But if you look back at the Drew Brees contract with the Saints over the years, it wasn't always a smooth ride. People remember the Super Bowl and the records, but they often forget the massive financial chess match that happened every few years in Metairie.
It wasn't just about a quarterback getting paid. It was about a city rebuilding and a team trying to stay relevant while navigating a salary cap that they consistently treated like a suggestion rather than a rule.
The 2006 Gamble: A Broken Shoulder and a $60 Million Bet
Honestly, the first Drew Brees contract with the Saints shouldn't have happened. Not if you listened to the doctors in Miami. After Brees tore his labrum and damaged his rotator cuff while playing for the Chargers in 2005, the Dolphins—led by Nick Saban at the time—basically told him his career might be over. They offered a contract that was so incentive-heavy it was almost insulting.
Then came the Saints.
They didn't just offer him a seat at the table; they offered him the keys to the city. On March 14, 2006, Brees signed a six-year, $60 million deal. It included an $8 million signing bonus and $20 million in total guarantees.
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By today’s standards? That’s backup money. But back then, for a guy who couldn't even lift his arm properly a few months prior, it was a massive risk for Mickey Loomis and Sean Payton. It turned out to be the best $60 million the franchise ever spent.
The 2012 Holdout: When Things Got Messy
You’ve probably forgotten how tense things got in 2012. Brees was coming off a 2011 season where he shattered the single-season passing yardage record. He wanted to be the highest-paid player in the league. The Saints, meanwhile, were dealing with the fallout of "Bountygate."
Brees was hit with the franchise tag, which he absolutely hated. He didn't show up for offseason workouts. There was a real fear in New Orleans that their savior might actually sit out.
Eventually, the two sides reached a deal that changed the market: five years, $100 million.
- Total Value: $100,000,000
- Guarantees: $60,000,000
- First Year Cash: $40,000,000
- APY (Average Per Year): $20,000,000
This was the first time an NFL player averaged $20 million a year. It was a milestone. It also started the trend of the Saints "kicking the can down the road" with his cap numbers. To fit that $40 million in cash into the 2012 season, they used a $37 million signing bonus, which spread the cap hit over the life of the deal.
Understanding the "Voidable Years" Magic
If you look at the final years of the Drew Brees contract with the Saints, you’ll see some weird stuff. In 2016, 2018, and 2020, the contracts started including "voidable years."
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Basically, these are "ghost years." The Saints would add years to the end of the contract that they knew Brees would never actually play. Why? Because it allowed them to spread out his signing bonus over five years instead of two or three.
For example, in his 2020 deal—which was for two years and $50 million—the Saints restructured it so often that even after he retired, he was still counting against their salary cap.
In February 2021, Brees did the team one last favor. He agreed to reduce his base salary to the league minimum ($1.075 million) just so the Saints could save about **$24 million in cap space** to handle other free agents. It was a savvy move that showed Brees was as much a businessman as he was a QB.
The Final Numbers: A Legacy in Cash
By the time he hung up the cleats, the cumulative Drew Brees contract with the Saints earnings were staggering. He earned over $250 million during his 15 years in New Orleans.
Breaking Down the Major Extensions
- 2006: 6 years, $60M (The "Rebirth" deal)
- 2012: 5 years, $100M (The "Record-Breaker" deal)
- 2016: 1 year extension, $24.25M (The "Bridge" deal)
- 2018: 2 years, $50M (The "Still Got It" deal)
- 2020: 2 years, $50M (The "Last Dance" deal)
Most people think Brees just took whatever the team offered. Not really. He was a tough negotiator who used CAA Sports to make sure he was always at the top of the market. But he also understood the "Saints way" of restructuring. He was willing to move his money around as long as the check cleared eventually.
What Most People Get Wrong
The biggest misconception? That the Saints were in "cap hell" because of Brees.
The truth is, Brees was the reason the cap worked. His willingness to restructure allowed the Saints to sign players like Demario Davis and Emmanuel Sanders when they technically had zero dollars in space.
Also, despite the high total numbers, Brees often took "under market" deals in his final years. In 2020, he probably could have asked for $35 million or $40 million a year like Patrick Mahomes or Dak Prescott, but he stuck to the $25 million APY.
Actionable Insights for Fans and Analysts
If you're trying to understand how the NFL salary cap works today, the Drew Brees contract with the Saints is the ultimate case study. Here is what you should take away:
- Look at the Cash, Not the Cap: Teams can manipulate the cap, but they can't fake the cash. Brees always got his money up front.
- Signing Bonuses are Key: This is how the Saints stayed competitive. By turning salary into a bonus, they could spread the "accounting cost" over five years.
- The "Dead Money" Risk: When Brees retired, the Saints had to eventually pay the bill for all those restructures. It’s why they had a massive dead cap hit in 2021 and 2022.
The relationship between Brees and the Saints front office was built on a weird kind of financial trust. They'd pay him the moon, and he'd let them figure out the paperwork later. It’s a model many teams try to copy now, but few have a quarterback as cooperative—or as talented—as number nine.
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To truly understand the impact of his departure, keep an eye on how the Saints handle future "void year" contracts with their veteran core. The Brees era taught New Orleans that you can win now and pay later, but the bill always comes due.