Chris Olave and the New Orleans Saints have reached an agreement on a four-year contract extension valued at up to $132 million, with $90 million guaranteed. The deal resolves Olave's contract situation, which had led him to participate in training camp in a limited capacity.
This new contract positions Olave as the sixth-highest-paid wide receiver in the NFL. He had been engaged in a "hold-in" during training camp, reporting to the team facility but refraining from full participation in drills while entering the final year of his rookie contract. Saints General Manager Mickey Loomis had indicated earlier in the week that discussions were progressing, stating, "We're having a lot of discussions. We're just not there yet. We're hopeful."
Olave is coming off a career year in 2023, recording 100 receptions for 1,163 receiving yards and nine touchdowns. These numbers placed him in the top ten league-wide for all three categories and earned him Second-Team All-Pro honors. Despite missing the final week of the season due to blood clots in his lungs, he ranked sixth in the NFL with 151 targets. Olave received medical clearance to fully practice on Tuesday and is expected to be a complete participant in training camp activities.
Olave's extension follows a trend of significant contracts for wide receivers who played collegiately at Ohio State. Over the past two offseasons, Jaxon Smith-Njigba and Garrett Wilson have also secured four-year deals exceeding $100 million. Last year, Terry McLaurin signed a three-year, $97 million contract with Washington.
With his contract settled, Olave is set to lead the Saints' wide receiver corps alongside Jordyn Tyson, whom the team selected with the eighth overall pick in the 2026 draft.