Three aging quarterbacks will each get $25 million this year.
That’s $10 million below the current top of the quarterback market, at $35 million. (Or, alternately, $7 million below the top of the market for value at signing — $32 million — held by Kirk Cousins.)
For Brees, it’s a two-year deal that pays out $25 million per season, but with only the first year guaranteed. The contract also has a pair of years that will void on the final day of the 2021 league year, making it a two-year contract.
The deal includes a no-trade clause and a commitment not to apply any tags to Brees in 2022.
So, basically, he’s committed to the Saints for two more years, if he chooses to play two more years. And because the bulk of his 2020 compensation — $23 million — comes in the form of a roster bonus (not a signing bonus), Brees would owe the Saints nothing if he retires after the 2020 season.
The Saints also could choose to cut Brees after one season, if they decide in 2021 to turn the offense over to Taysom Hill.