Drew Brees wasn’t given a long-term contract by the New Orleans Saints by Monday’s 4 p.m. ET deadline and now the MVP quarterback will not sign his franchise tender and report to training camp.
If Brees and the Saints can’t work out a contract by July 16 the QB will have to play the 2012 season under his $16.371 million exclusive-rights franchise tender. Because Drew Brees has been franchise tagged twice the Saints could attempt to keep him on the team with another tag at the end of the season but his pay would need to increase by 44 percent to $23.57 million, more than the sum Brees is asking for on a per season basis.
Brees wants $20.5 million per year, a number he has based on his six years of success with the Saints including the teams first Super Bowl championship in 2009 and his Dan Marino record-breaking season in 2011-2012.
Should he be given $20.5 million he would be earning more than the $19.2 million per season given to Peyton Manning by the Denver Broncos.
The New Orleans Saints in the meantime believe that $19.25 million per year should suffice as it would still make Drew Brees the highest paid quarterback in the NFL. In the meantime Tennessee Titans owner Bud Adams has offered to pay Brees significantly more money and offer him a lifetime contract should he make his way to the Titans.
At 33-years-old Brees still has a number of good years left in him and unlike the 36-year-old Peyton Manning he has not undergone four neck surgeries.
Over the last six years Drew Brees has earned an average of $10 million per season. Despite undergoing major surgery and being released by the San Diego Chargers in 2005 Brees has only gotten better over the years. It was his one-year contract experience with the Chargers who at one time franchise tagged him that made him decide to hold out for a better deal with the New Orleans Saints.
On more than one occasion Drew Brees has said he wants to finish out his NFL career with in New Orleans.