Brees confirmed the agreement via his personal Twitter account:
Deal is Done!Love you, Who Dat Nation. See you soon!
— Drew Brees (@drewbrees) July 13, 2012
Brees and the Saints had been negotiating a new contract extension for the past few months after the Saints tagged Brees as their franchise player. Per Mortensen, Brees’ contract includes $60 million in guarantees and will pay Brees approximately $40 million in the first year.
Brees has become an icon for New Orleans both on the field and in the community and led the Saints to a Super Bowl victory in 2009. In six seasons with the Saints, Brees has a passer rating of 98.5 passer rating and has thrown for 28,394 yards and 201 touchdowns while completing 67.8% of his attempts, all highs in the NFL since 2006.
Brees was originally drafted by the Chargers in the second round of the 2001 NFL Draft before signing with the Saints as a free agent in 2006.