One of the various training-camp hold-ins ended on Thursday, when the Saints signed receiver Chris Olave to a new deal.
Due to make $15.493 million in 2026, Olave added a four-year extension, reportedly worth up to $132 million.
The full details of the deal have now made their way to PFT HQ. Here they are, per a source with knowledge of the terms:
1. Signing bonus: $35 million.
2. 2026 base salary: $1.293 million, fully guaranteed.
3. 2026 per-game roster bonus: $1.36 million total ($80,000 per game); fully guaranteed (but must be earned).
4. 2027 base salary: $13.64 million, fully guaranteed.
5. 2027 per-game roster bonus: $1.36 million total ($80,000 per game); fully guaranteed (but must be earned).
6. 2028 base salary: $23 million, guaranteed for injury at signing and fully guaranteed in March 2028.
7. 2028 per-game roster bonus: $1.36 million total ($80,000 per game); guaranteed for injury at signing and fully guaranteed in March 2028 (but must be earned).
8. 2029 base salary: $27 million, $13 million of which is guaranteed for injury and becomes fully guaranteed in March 2029.
9. 2029 per-game roster bonus: $1.36 million total ($80,000 per game).
10. 2030 offseason roster bonus: $3 million.
11. 2030 base salary: $29.76 million.
12. 2030 per-game roster bonus: $1.36 million total ($80,000 per game).
The contract also includes $2 million in escalators for 2027 through 2030, based on performance in the prior season. The formula goes like this: $400,000 for being named a first-team All-Pro; $400,000 for making it to the Pro Bowl; $400,000 for 1,200 or more receiving yards; $400,000 for 101 or more catches; and $400,000 for 10 or more receiving touchdowns. (In four NFL seasons, Olave has hit none of those triggers.)
The actual base value is $124 million, with a maximum value of $132 million. The new-money APY is $31 million, and the base value from signing is $27.898 million.
The $1.36 million in per-game roster bonuses for each of the next five years gives the Saints protection against injury. In 2024, Olave missed nine games, mainly due to multiple concussions. He started 16 games in 2025.
Of the amount, $52.653 million is fully guaranteed at signing. By 2027, $77.013 million is fully guaranteed. By 2028, $90 million is fully guaranteed.
