Saints WR Chris Olave Agrees To 4-Year Extension Reportedly Worth Over $100M

After spending the season proving he can lead the New Orleans Saints' offense, Chris Olave is being rewarded like a true star. 

Olave and the Saints have agreed to a four-year extension worth $132 million with $90 million guaranteed, ESPN reported Thursday.

The payday comes after Olave flourished and became the go-to target in first-year head coach Kellen Moore's offense. Olave was able to haul in 100 receptions for 1,163 yards and nine touchdowns to secure his third 1,000-yard season since entering the league.

With the extension, Olave is now in an elite company. His $33 million average annual salary ties him for the sixth-highest among receivers, per Over The Cap. Olave's $90 million in guarantees surpasses the recent deal signed by Indianapolis Colts wideout Alec Pierce earlier this offseason.

Olave, 26, was the No. 11 overall pick in the 2022 NFL Draft out of Ohio State. He has yet to play a full season, but a lot of his recurring injuries might be behind him as Olave is heading into training camp fully healthy.

Over his four seasons in the league, Olave has suffered multiple concussions, leading him to briefly contemplate retirement before returning to play last season. He stayed healthy until Week 18 after the medical staff discovered a blood clot in his lung.

Not only is Olave now a part of the long-term future, but the Saints could be on the verge of building quite the young nucleus. They could have something special in second-year quarterback Tyler Shough, who built quite the connection with Olave last season.

Alongside Olave will be rookie receiver Jordyn Tyson from Arizona State, who the Saints ended up selecting No. 8 overall in this year’s NFL Draft. While Olave’s target share isn’t expected to take a hit, fewer double teams should be on the horizon for him going forward.

With Olave healthy and locked in for the long haul, the Saints will look to make the playoffs for the first time since 2020. New Orleans went 5-4 after Shough became the starting quarterback last season, finishing the year 6-11.