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Sean Payton has agreed to a five-year contract extension with the Saints, the team announced on Wednesday. That means Payton, who was hired before the 2006 season, will be with the team through at least 2020.
ESPN's Ed Werder reports that Payton's new deal is worth more than $45 million. He had been making $8.5 million a year on his previous deal. Meanwhile, according to several reports, Payton had been carrying the contract around with him in his briefcase before finally signing it.
But now it's a done deal and Payton, who is 87-57 in his career and has a Lombardi Trophy, can focus on getting the Saints back to the playoffs for the first time since 2013.