As many expected, the New Orleans Saints dealt one of their two prolific wide receivers who drew significant interest before the NFL's trade deadline. They sent talented speedster Rashid Shaheed to the Seattle Seahawks in exchange for 2026 fourth- and fifth-round picks. It was a notable move for all parties involved, namely his now-former running mate, Chris Olave.
Where does Olave stand with the Saints following Shaheed's departure? That's the question fans are asking in response to New Orleans ostensibly kicking off a long-overdue rebuild, and it appears we have our answer.
Olave, 25, has two seasons remaining on his rookie contract after the Saints exercised their $15.5 million fifth-year option on him for 2026. The two sides have reportedly been in talks about an extension; Shaheed heading to Seattle could be what gets them across the finish line.
Saints' Rashid Shaheed trade paves the way for Chris Olave contract extension
Devoting a decent percentage of alloted payroll to two players at the same position makes roster construction even harder than it already is. Especially for the perpetually cash-strapped Saints. Shaheed is slated for unrestricted free agency this offseason and expected to net roughly $8.1 million annually, according to Spotrac's calculated market value.
Frankly, Shaheed not earning double-digit millions per year feels like a conservative projection, considering far less productive wideouts are making that kind of money. That doesn't factor in the league's steadily rising salary cap, or his contributions as one of the most electrifying punt/kick returners. With that in mind, shipping him elsewhere was imperative to retaining Olave long term.
New Orleans gave up third- and fourth-round picks to move up five spots to select Olave No. 11 overall in 2022. His frightening concussion history derailed him in 2024, though when healthy, he's among the best wideouts in football. The idea of rerouting him never made much sense to begin with, particularly for a club presumably set to usher in a young quarterback.
As of this writing, the Saints hold the No. 1 selection in the 2026 draft. That puts them in a prime spot to hand-pick their next franchise signal-caller should they please. If so, Olave will be instrumental to said newcomers development and figures to have a payday to show for it in due course.
Through nine games in 2025, Olave is pacing for a career high in receptions. His 55 catches thus far have yielded 560 yards and three touchdowns.