Saints' Potential Cost to Extend Chris Olave Revealed

But what could it cost to give him a new deal? Luke Johnson of the New Orleans Times-Picayune pointed to $30 million as an annual figure to get the conversation started.

"Olave shouldn’t be in the conversation to reset the market in the way that Nacua and Smith-Njigba may be, but he occupies the same tier as players such as Jaylen Waddle ($28.3 million average per year), Terry McLaurin ($29 million APY) and his college teammate at Ohio State Garrett Wilson ($32.5 million APY)," Johnson wrote. "Waddle signed his extension in May 2024, while Wilson and McLaurin signed theirs a year ago. The salary cap is expected to make another record jump this year, with the number likely clearing $300 million for the first time in league history, which is going to lead to bigger contracts for star players.

"Olave and Wilson have put up similar numbers since they were selected with back-to-back picks in the 2022 NFL Draft. McLaurin has outpaced Olave’s production since Olave entered the league in 2022, but he was 29 years old when he signed his recent extension, while Olave turns 26 in June.

"So $30 million feels like the starting point. As is typically the case, it would benefit the Saints to get a deal wrapped up sooner rather than later because of the way contract negotiations work — although it may not be up to them if Olave and his representatives wish to let the market do some work for them."

Early in the offseason, Saints general manager, Mickey Loomis, was asked about the idea of an extension.

"Chris is obviously an important player to us and had a really good season, but we haven’t really spent much time thinking about that right now," Loomis said. "We’ve had a couple conversations with his agent, but ... that’ll be part of this offseason. I can’t tell you how high it is or low it is (as a priority). I don’t have the whole list yet."

Olave has made it known that he's open to the idea of a new deal. Now, the Saints are going to have to get to work. Johnson isn't wrong, by any means. Olave and Wilson have been more similar than you'd think throughout their careers to this point. Wilson got $130 million over four years before the 2025 season. The clock is ticking and the Saints are going to have to open up the check book.

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