Chris Olave’s contract situation: Will the New Orleans Saints give him a new deal?
Mickey Loomis has indicated that there are no immediate plans for a contract extension. “Obviously, we’d love to have something done sooner than later, and I’m sure Chris would as well, but we’re not there yet,” Loomis said back in May. This isn’t just background noise anymore. After an offseason where the team reshaped both its cap and roster structure, this is now their next major decision.
Olave is already under contract for 2026 through his $15.49 million fifth-year option. The Saints could stick with that figure for one year, but they may want to get ahead of a rising market and turn that number into a longer-term deal now.
The question feels even more important after the season Olave just put together. He finished the 2025 campaign with 100 catches for 1,163 yards and nine touchdowns – a clear sign he was back to full speed after injuries slowed him down in 2024. Performances like that tend to give players plenty of leverage in these discussions.
Olave has proven he’s worth investing in
He’s already produced three 1,000-yard seasons in his first four years, and the Saints didn’t draft Jordyn Tyson with the eighth pick to replace him. They brought him in to add another option to the passing game.
That’s a key point. Tyson isn’t there as an eventual replacement; he’s there to be part of the plan. And with Tyson on a rookie contract, extending Olave now could help manage costs before another big season pushes his value even higher.
Olave’s numbers speak for themselves. Over four seasons, he has 291 catches for 3,728 yards and 19 touchdowns, all while dealing with changes at quarterback and adjustments to new offensive systems.
The Saints have other roster decisions that could impact Olave
When asked about Alvin Kamara’s future with the team, Loomis spoke candidly about how New Orleans is managing its resources. That backdrop adds another layer to Olave’s contract situation.
The team is deciding which veteran deals to carry forward, and investing in a 26-year-old wide receiver like Olave makes more sense than committing to a running back at this stage. Especially since he fits well with their younger quarterback’s development timeline.
With the Saints putting their faith in Tyler Shough and Tyson, having Olave as the clear WR1 gives the offence some needed stability as they settle around the new core.
Why waiting on Chris Olave’s deal might not save money
They could choose to wait. Teams often do. But that rarely pays off when it comes to wide receivers.
Olave doesn’t need a breakout year to strengthen his case; steady production will keep raising his value. And with the receiver market already pushing past $30 million a year for top-tier players, waiting could push his price even higher.
AI Mode research projects Olave’s deal in the $33 million to $35 million per year range, with total values around $131 million to $132 million. It might feel steep now, but it will look more reasonable if other deals get done first.
Timing of an Olave deal fits with the Saints’ other moves
The decision to extend Olave is not happening in a vacuum. The Saints are working through bigger changes, including how to handle Alvin Kamara’s contract.
It is another reminder that New Orleans has choices to make about which veterans to keep. Wide receiver is easier to justify than running back, especially when Olave is still just 26 and fits perfectly with a younger quarterback’s timeline.
With New Orleans all-in on Tyler Shough and Tyson, keeping Olave as the established WR1 could help stabilise the offence around their new core.
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