Saints Sign Chris Olave to Four-Year, $132 Million Extension, Ending Camp Hold-In

The New Orleans Saints signed wide receiver Chris Olave to a four-year contract extension worth up to $132 million, with $90 million guaranteed, the team announced Thursday. ESPN first reported the financial terms, which were confirmed by Olave's agent, Drew Rosenhaus, according to Sportsnet.ca.

The deal runs through 2030 and pays Olave roughly $33 million per season, putting him among the highest-paid wide receivers in football.

Olave was entering the final year of his rookie contract, playing on his fifth-year option for 2026. He showed up for voluntary organized team activities and reported to training camp on time, but he held in, participating only on a limited basis in the first two practices while he waited for a new contract, according to NFL.com and Sportsnet.ca.

That standoff is over now that the money is on the table.

Why the Saints Paid Up

Olave earned this deal. In 2025, he posted career highs across the board: 100 receptions, 1,163 receiving yards and nine touchdowns in 16 games, numbers good enough to land him second-team AP All-Pro, according to Sportsnet.ca. He built that season around a new connection with quarterback Tyler Shough, the second-round pick who took over as New Orleans' starter.

Saints general manager Mickey Loomis made no secret of where he stood on Olave heading into camp. "Chris has been as enthusiastic and optimistic as anyone," Loomis said, according to Sportsnet.ca. "So I really, really appreciate the way he's conducted himself. And that's not just this year, that's every year with Chris. He's an absolute joy to have on our team."

Head coach Kellen Moore struck a similarly even tone about the hold-in itself. "There's the business side and there's the football side, obviously. And we know sometimes those two overlap," Moore said, according to Sportsnet.ca. "As long as we all communicate and we're all on the same page. We always have to remind ourselves, everyone has the same goal."

The timing lines up with a receiver market that's been on fire all offseason. Olave's extension follows deals for three other 2022 first-round receivers: Garrett Wilson with the New York Jets, Jameson Williams with the Detroit Lions, and Drake London with the Atlanta Falcons, who signed a $141 million deal on June 2, according to NFL.com. Fox News noted that Atlanta's division-rival deal for London likely helped push Olave's price up, whether the Falcons intended that or not.

This is the biggest receiver contract the Saints have handed out since Michael Thomas signed a five-year, up to $20 million per year deal in 2019, according to Fox News, which was a record at the time.

The Injury Question

Olave has a real injury history. He suffered concussions in each of his first three NFL seasons, including one that sidelined him for nearly half of the 2024 campaign, according to Sportsnet.ca. Last season ended early when he developed a blood clot in his lung, forcing him to miss the Saints' final game and go on blood thinners, according to NFL.com.

Loomis didn't dodge that reality. He called Olave's injury history an "element" and a "variable" in the negotiations, according to Sportsnet.ca, which dragged on for roughly a year before finally getting done. Olave was fully cleared to practice by the start of camp, per Loomis.

Committing $90 million guaranteed to a player who has already had three documented concussions and a lung blood clot by age 26 is not a risk-free bet. The counterargument is straightforward: when healthy, Olave has produced back-to-back 1,000-yard seasons plus his 2025 breakout, and receivers with that level of production rarely hit the open market at a discount.

What Comes Next

Olave, 26, now becomes the clear centerpiece of a young Saints receiving corps that includes 2026 first-round pick Jordyn Tyson, along with Devaughn Vele, Bub Means, JaLynn Polk, and rookies Bryce Lance and Barion Brown, according to NFL.com. New Orleans also added running back Travis Etienne Jr. to a backfield that still features Alvin Kamara, per Fox News.

With the hold-in resolved, Olave is expected to fully rejoin practice as the Saints continue training camp at their Metairie, Louisiana facility. New Orleans hasn't made the playoffs since 2020 and has gone 11-23 over the past two years, including a 6-11 finish in Moore's first season as head coach, according to Fox News. Whether the $132 million bet on Olave and the continued development of Shough can turn that around will be tested in the regular season.