The New Orleans Saints have signed star wide receiver Chris Olave to a four-year, $132 million contract extension, including $90 million guaranteed. The deal, confirmed by sources, makes Olave one of the highest-paid receivers in the NFL, with an average annual value of $33 million. Olave, a 2022 first-round pick, was set to play the 2026 season under his fifth-year option but held out of training camp to secure the extension before potential free agency in 2027.
Olave’s contract is the largest the Saints have given to a receiver since Michael Thomas’s $100 million deal in 2019. The extension comes after Olave’s best season, where he recorded 100 receptions, 1,163 yards, and nine touchdowns in 2025, earning second-team All-Pro honors. He has now tallied three 1,000-yard seasons in four years, despite playing with a revolving door of quarterbacks, including Andy Dalton, Jameis Winston, Derek Carr, Spencer Rattler, and Tyler Shough.
Injury Concerns and Offensive Potential
Olave has missed 13 games in four seasons due to injuries, including two concussions in 2024 and an ankle sprain in 2025. His latest setback—a blood clot discovered in January 2026—forced him to miss a Week 18 game. Despite these issues, the Saints believe in his long-term potential, particularly with Tyler Shough, their 2025 second-round quarterback, as his primary passer. The franchise views Olave as a cornerstone for its offense, which has struggled in recent years, with the Saints posting an 11-23 record over the past two seasons.
Market Context and Comparisons
Olave’s deal ties him with Garrett Wilson for the sixth-most guaranteed money among NFL receivers. His 2022 draft classmates, including Drake London ($141M with the Falcons) and Sauce Gardner ($120.4M with the Jets), have also secured lucrative extensions. The Saints’ investment reflects their confidence in Olave’s ability to elevate their offense, despite his injury history and the team’s recent struggles.