FOX Sports’ Jay Glazer reports that the Saints and Colston have agreed to terms on a five-year contract that will keep Colston in New Orleans through 2016.
Florio mentioned late last night that New Orleans was working “feverishly” to get Colston re-signed despite a limited amount of salary cap space. They executed.
Per NFL Network’s Jason La Canfora, the deal is worth $40 million including just under $20 million guaranteed. Florio is reporting that those numbers are a bit inflated, though. He’ll have the actual financial details shortly.
Colston, who turns 29 in June, has been incredibly productive manning the slot in the Saints’ pass-first offense. He broke into the league as a seventh-round pick out of Hofstra in 2006, and has averaged over 1,000 yards per season ever since.