— Mike McCartney (@MikeMcCartney7) February 5, 2015
Evan Woodberry of the New Orleans Times-Picayune reports that McCown receives a one-year contract worth the league minimum for veteran players of $970,000.
Alex Marvez adds that McCown receives an $80,000 signing bonus and $350,000 fully guaranteed.
McCown, 33, was scheduled to be an unrestricted free agent in the coming weeks, but it appears as though the Saints wanted to get him taken care of immediately before addressing other roster issues.
Last year, McCown was active for all 16 games, but he didn’t attempt a single pass for the Saints.