Report: Loomis submits new contract to Brees' representatives - WAFB 9 News Baton Rouge, Louisiana News, Weather, Sports

Report: Loomis submits new contract to Brees' representatives

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NEW ORLEANS, LA (WAFB) -

Conflicting reports on the negotiations of a new contract for Drew Brees have swirled throughout the day.

After reports that a deal was not close, ESPN's Ed Werder is now reporting that Saints General Manager Mickey Loomis has submitted a revised contract proposal to Drew Brees' representatives.

Earlier in the day WWL Radio reported Drew Brees would sign a new deal with the New Orleans Saints by Friday or Monday.

Sideline reporter Kristian Garic said Thursday morning there are only a couple more items to take care of to get the deal done.

Many reports began circulating Wednesday that the team was close to offering its All-Pro quarterback a new contract.

The Saints and Brees have until July 16 to work out a multiyear deal, or Brees would face a choice of sitting out the season or playing under a one-year franchise-tag distinction for roughly $16 million.

There is also the uncertainty of Brees' Franchise Tag. Jeffrey Kessler, an attorney on retainer with the NFL Players Association, said Thursday that he expects a grievance hearing to be scheduled in late June with arbitrator Stephen Burbank to determine the designation of New Orleans Saints quarterback Drew Brees' franchise tag.

The NFLPA asked Burbank last week to determine whether Brees has been hit with the franchise tag for a first or second time, because the language in the collective bargaining agreement is vague.

According to ESPN.com senior NFL writer John Clayton, a 144 percent bump would put Brees' cap number for 2013 at $23,574,240, though another exclusive tag could raise the number a little higher. That would put his two-year earnings at $39,945,240, or a little less than $20 million per year.

It was a busy day for Brees, his house in San Diego was sold and the New Orleans City Council approved his second Jimmy John's restaurant.

In other news, the Saints have signed nine year veteran quarterback Luke McCown. McCown has been working with the third team during minicamp behind Chase Daniel and Sean Canfield.

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