Drew Brees is now the highest paid player in the NFL. The New Orleans Saints and Brees agreed to a five-year, $100 million contract, with $60 million guaranteed.
Brees will receive a $37 million signing bonus this year with a base salary of $3 million. The signing bonus will be paid over the next six weeks.
Earlier today the all-pro quarterback posted a message on Twitter minutes after the report went out.
"Deal is Done! Love you, Who Dat Nation. See you soon!" Brees tweeted.
Various reports this week had the Saints and Brees more than ten million dollars apart in guaranteed money, making the chances of the all-pro quarterback signing a new contract by Monday's deadline iffy at best.
Although making it clear he would not sign a franchise tag or report to training camp without a new deal, this week Brees did say he was optimistic a deal would be done before Monday and would be ready to report to Saints training camp on July 24th.
Brees will be entering his 12th year in the NFL. Last year the 33 year old quarterback broke Dan Marino's 27 year-old record for most passing yards in one season (5,084).
After leading the Saints to 13-3 record in the 2009 season, Brees led the Saints to at Super Bowl victory over the Indianapolis Colts, 31-17.
The New Orleans Saints open the preseason against the Arizona Cardinals in the Hall of Fame game on August 5th.
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