Saints lock up Chris Olave with 4-year extension worth $132M after training camp hold-in

New Orleans Saints star receiver Chris Olave agreed to a four-year extension worth $132 million with $90 million guaranteed, sources confirmed to OutKick’s Armando Salguero.

Olave was set to play the 2026 NFL season on his fifth-year option, and he was a hold-in at training camp because of it. He wanted a new deal before taking part in practices.

The Saints decided to reward their 2022 first-rounder with his desired extension before potential free agency in 2027.

Olave will remain a cornerstone piece for the franchise alongside new starting quarterback Tyler Shough, who was drafted in the second round in 2025.

This deal marks the highest the Saints have dished out to a receiver since Michael Thomas received a five-year pact worth up to $20 million per season in 2019. At the time, it was a record.

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Olave will be making $33 million per season, cementing him as one of the highest-paid receivers in the NFL.

The Ohio State product earned that during his rookie deal with the Saints, especially last season. In 16 games, Olave notched career highs in yards (1,163), touchdowns (nine) and receptions (100).

Olave started thriving once Shough took over as the team’s starting quarterback, quickly finding chemistry with his new signal-caller, and the Saints clearly believe that connection will lead them to playoff glory once more.

The Saints have not reached the playoffs since the 2020 campaign, though they have sprinkled in 9-8 seasons in there. However, they’ve gone 11-23 the past two seasons, and head coach Kellen Moore’s first year ended at 6-11.

But there were positives that came out of the lackluster record, with the offense being the main highlight. The Saints are excited to see what Shough can do with a full offseason understanding he’s the starting quarterback as well as working more in Moore’s system.

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Olave benefited from that system, and the Saints bolstered their offensive weapons by signing Travis Etienne Jr. to their backfield. 

With Saints legend Alvin Kamara returning for another season, the running back depth chart is filled with explosive playmakers, while Olave, tight end Juwan Johnson and 2026 first-round pick Jordan Tyson out of Arizona State have this group primed for success.

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