Saints To Extend WR Chris Olave

This was the expected outcome after both sides expressed optimism about a deal coming together during the negotiating process. Olave was confident in early June he and the team would reach an agreement before training camp. It took a big longer than that, though, as Olave had been holding in at the beginning of camp.

When asked about a potential Olave extension on Tuesday, general manager Mickey Loomis declared (via NewOrleans.Football), “We want to get it done.”

While Loomis also noted he and Olave’s camp were not quite at the finish line, they have arrived just two days later. Going by the numbers Schefter provided, Olave now ranks sixth among receivers in total value, guarantees and average salary ($33MM). He is the latest former Ohio State receiver to reel in a nine-figure extension since last summer, joining the Seahawks’ Jaxon Smith-Njigba (four years, $168.6MM) and the Jets’ Garrett Wilson (four years, $130MM).

Like Wilson, Olave entered the league as a first-round pick in 2022. He was there at No. 11 overall for Loomis, who saw the Falcons take Drake London at No. 8 and the Jets grab Wilson 10th. Having logged excellent production in the pros, all three players are now among the league’s richest wideouts. For his part, Olave has hauled in 291 catches for 3,728 yards and 19 touchdowns in 55 games. He has done so despite unspectacular quarterback play and multiple concerning health issues.

Although Olave has played either 15 or 16 games and gone over 1,000 yards in three of his four seasons, he has suffered at least four concussions since he came into the league. Olave revealed that he mulled retirement after dealing with a pair of concussions that limited him to eight games in 2024. Meanwhile, the Saints were confident enough in Olave’s health to exercise his $15.49MM fifth-year option for 2026. After deciding to continue his career, the 6-foot, 187-pounder set personal highs in catches (100), yards (1,163 yards) and touchdowns (nine) over 16 games. He formed a strong connection with then-rookie quarterback Tyler Shough, a former second-rounder whom the Saints regard as their long-term solution at the position.

Olave earned a second-team All-Pro nod in 2025, though he dealt with further health-related adversity over the past few months. A blood clot in Olave’s lung kept him out of the Saints’ season finale. The 26-year-old was facing a four-week recovery period then, but it took longer than expected to bounce back. He got off blood thinners earlier this summer and was officially cleared for camp this week.

For the first time since he drafted Olave, Loomis turned to Round 1 for a receiver this year. The Saints are hoping Jordyn Tyson, the eighth overall selection, will form an elite tandem with Olave for the next several seasons. If it happens from the get-go, it would go a long way toward helping the Saints snap a five-year playoff drought in 2026.