The New Orleans Saints made a splash early in training camp by extending star wide receiver Chris Olave to a four-year, $132 million contract. This contract seems colossal on the surface, but it’s much more reasonable when a reference is given. Fortunately for Saints fans, two perfect examples are evident in the 2022 draft class alone.
Olave’s average annual value (AAV) for this contract is $33 million. It’s important to note that it isn’t all guaranteed; only $90 million of the value is; however, it’s the baseline that I’ll be referring to throughout this article. It’s the easiest point of reference and is comparable among all players, regardless of the terms of the contract.
Having cleared that up, it’s time to see how Olave’s new contract compares with the rest of the NFL.
Chris Olave’s contract is hefty, but matches up similarly with other star receivers.
Olave’s contract puts him sixth among NFL receivers, per to Over the cap. The two best comparisons for his contract are New York Jets receiver Garrett Wilson’s and Atlanta Falcons pass-catcher Drake London’s ($35.2 million).Â
All three of these 2022 first-round picks have had successful careers that landed them lucrative contracts. Despite ranking second among these three in AAV, Olave’s been the more efficient player when healthy. His 67.8 yards per game is first, with London (63.9) and Wilson (62.8) following behind. Given Olave’s injury concerns, it was a win for both sides to land him between these two talented players.
Chris Olave’s new contract may seem massive, which it is, but it’s well warranted when compared to similar receivers around the league. Now, the veteran’s future is solidified in New Orleans, and his entire focus shifts towards the field. Olave has a chance to prove that he’s worth the price tag in 2026 and make Mickey Loomis look like a genius for finishing the deal.
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