Per Adam Schefter of ESPN, the Saints are signing wide receiver Chris Olave to a four-year extension worth up to $132 million, including $90 million guaranteed, according to his agents Drew and Jason Rosenhaus.
A Deal Years In The Making
The extension comes after weeks of steady negotiations.
Saints GM Mickey Loomis had spoken publicly about the ongoing talks just days earlier, saying, "We want to get it done. Chris and his agents, Jason and Drew Rosenhaus, I know they want to get it done."
Loomis had acknowledged Olave's injury history was a variable in the discussions but not one significant enough to derail an agreement.
Just in: Saints are signing WR Chris Olave to a four-year extension worth up to $132 million, including $90 million guaranteed, his agents Drew and Jason Rosenhaus, and Robert Bailey, tell ESPN. pic.twitter.com/YrExVcnt4H
— Adam Schefter (@AdamSchefter) July 30, 2026
Nick Underhill of NewOrleans.Football had reported the two sides remained in extension talks as recently as July 25, with a trade becoming a real possibility if the sides could not find common ground before Olave's contract expired after the season.
Instead, New Orleans chose to pay.
Why The Timing Mattered
The wide receiver market has exploded over the past year, and the Saints could not afford to wait any longer.
Garrett Wilson, Olave's draft classmate, signed a four-year, $130 million deal with the Jets in 2025, and since then the market has only climbed higher, with Drake London landing a four-year, $141 million extension with Atlanta and Jaxon Smith-Njigba resetting the position in Seattle.
Ohio State WR contracts over the last two offseasons include:
— Adam Schefter (@AdamSchefter) July 30, 2026
🏈Jaxon Smith Njigba: 4-years, $168.6M
🏈Chris Olave: 4-years, $132M
🏈Garrett Wilson: 4-years, $130M
🏈Terry McLaurin: 3-years, $97M https://t.co/ozfI7USnn0
Every one of those deals pushed the price of a true No. 1 receiver higher, and locking up Olave now, rather than letting the market climb further, was the smart financial play.
The Player
Olave has quietly become one of the most consistent receivers of his draft class.
Selected in the first round out of Ohio State in 2022, he posted three 1,000-yard seasons in his first four years, including 100 catches for 1,163 yards and nine touchdowns in 2025 despite dealing with a blood clot issue that limited his availability.
He earned his first career spot on the NFL's Top 100 list this offseason and has established himself as the clear top target for second-year quarterback Tyler Shough.
With Olave locked up long-term, the Saints have secured the foundation of their passing offense as they continue building around Shough for the future.
