Saints & HC Sean Payton Agree To New Five-Year, $45M Extension

Saints HC Sean Payton told reporters at the owners meetings that he’s agreed to a new five-year contract with the team, per Larry Holder.

• ESPN’s Ed Werder reports that Payton’s new five-year extension is worth slightly more than $45 million, which means he’ll make annual salaries of $8.5 million per year.
• According to Payton, he plans to sign the agreement at some point in the near future.
• Payton had dinner with Saints owner Tom Benson to talk about the new contract.

“The stability, I don’t take for granted,” Payton said, per Ian Rapoport. “We’re all fortunate doing something we love.”

Payton’s new contract will keep him under team control through the 2020 season.

There has been a great of talk the past few years regarding Payton and the possibility of him leaving the Saints for another job, so this extension will finally put an end to the consistent speculation.

During the offseason, it appeared as though the Saints could trade Payton to a team such as the Colts, Giants or Eagles, who were all believed to be looking for new coaches. However, Payton and the Saints ultimately elected to keep things as they are.

Payton, 51, is under contract through the 2017 season, and stands to make $8 million per year in his current agreement. He has lead the Saints to a record of 84-53 (61.3 percent) including their only Super Bowl title over the course of eight-plus seasons in New Orleans.