New Orleans Saints wide receiver Chris Olave has agreed to terms on a four-year contract extension that is worth up to $132 million, ESPN reported on Thursday.
The deal includes $90 million guaranteed.
The Saints later announced they had agreed to a multiyear extension with Olave.
Olave's good news was expected, as the wide receiver noted during organized team activities that he was anticipating an extension and was hopeful it would be worked out prior to training camp. Saints general manager Mickey Loomis also聽expressed optimism a deal would get done earlier this week.
Entering the final year of his rookie contract, Olave attended voluntary organized team activities and reported to training camp on time, but didn't take part in drills initially this week. That's likely to change now.
Olave's new deal comes following those to fellow '22 first-round wide receivers聽Garrett Wilson(No. 10 overall) with the New York Jets, Jameson Williams(No. 12) with the Detroit Lions and Drake London(No. 8) with the Falcons. The latter was worked out on June 2, with New Orleans' archrival Atlanta perhaps inadvertently -- or not -- driving up the price for Olave, the No. 11 overall pick in 2022.
Following his sensational showing last season, Olave has solidified himself as a crucial component in the Saints' plans for the future, a notion underscored by his second career contract.
In the aftermath of an eight-game 2024 season in which he suffered multiple concussions, Olave turned in a masterpiece of a 2025 campaign with personal bests of 100 receptions, 1,163 receiving yards and nine receiving touchdowns.
Olave's outstanding output helped secure quarterback Tyler Shough's status as the franchise's hopeful QB of the future.
The precarious 2024 campaign drew doubts about Olave's playing future overall. The Ohio State product who so quickly showcased his talents with back-to-back 1,000-yard seasons to start his career responded in sterling form and has now been rewarded.
Olave, 26, is firmly entrenched at the forefront of a receiving corps that now includes 2026 first-round pick Jordyn Tyson and also features Devaughn Vele, Bub Means, Ja'Lynn Polkand rookies Bryce Lanceand Barion Brown. There is far more promise and youth than experience in the WR room. Olave however, maintains all those attributes.
Despite Olave's good fortune, his injury history will remain a concern. He suffered concussions in each of his first three seasons and the end of last year was clouded by a聽blood clot in his lung that caused him to miss the final game of the season.
Ultimately, Olave has lived up to the expectations of his draft status and penned an inspirational story so far.
