Brees announced his retirement a few months ago, but the Saints had to wait until after June 1 to place him on the retired list due to cap ramifications.
The Saints renegotiated Brees’ contract in February and in turn, freed up nearly $24 million of cap space for the 2021 season. This move allows the Saints to create cap space while waiting until June 2nd to place Brees on the reserve/retired list.
Brees has a contract to join NBC as a studio analyst and to work Notre Dame games.
Brees, 41, is a former second-round pick of the Chargers back in 2001. After five years with the Chargers, Brees signed on with the Saints as a free agent in 2006.
Brees has spent the past 12 seasons in New Orleans. He agreed to a new two-year, $50 million contract with the Saints last year.
For his career, Brees threw for 80,358 yards while completing 67.7 percent of his passes to go along with 571 touchdowns and 243 interceptions over the course of 20 seasons and 287 games. He was a 13-time Pro Bowl and a first-team All-Pro in 2006.
Brees is clearly a first-ballot Hall of Famer.