Saints wide receiver Michael Thomas is ending his holdout and signing a lucrative new contract.
The Saints and Thomas have agreed to a five-year extension, according to multiple reports.
The reports say the total value of the extension is $100 million, which would give Thomas the $20 million a year he was looking for, but there’s no word on how that $100 million is structured. The value of the guarantee is said to be $61 million, but again, there’s no word on how that “guarantee” actually breaks down.
Thomas is heading into the fourth and final year of his rookie contract and was holding out for a big pay increase. There was little doubt that he deserves it, given that he has 321 catches for 3,787 yards and 23 touchdowns in just three NFL seasons. At age 26, the Saints think Thomas still has plenty of good years left in him, and they want him to spend those years in New Orleans.