What is happening with Chris Olave’s contract extension?

One of the major goals this offseason for the New Orleans Saints was to sign a contract extension with star WR Chris Olave. This has been a topic of conversation for a few offseasons now, but with Olave set to play on his 5th-year option in 2026, it’s time for that extension to happen. But it’s already May, and there has not been any news on what is happening with Olave’s contract.

Last season, Olave did exactly what he needed to do to earn a good amount of money on his next extension. He nearly played every game despite his lengthy injury history, created great chemistry with Tyler Shough, and was the clear #1 option on the team. Combining last season’s performance with where the WR market is, Olave should be getting over $130 million for his extension, but there are reasons why that hasn’t happened yet.

I mentioned Olave’s injury history, and it has to be brought up again. Olave has dealt with concussions throughout his career, and although he avoided one last season, it’s a worry for the future. At any point, another concussion could derail everything, and although Shough’s type of play and the Saints being careful should help Olave avoid that, you never know. From the Saints’ perspective, the injuries may be why they are unwilling to get to Olave’s ideal number.

The other factor, which is completely new, is that the Saints’ WR room is actually great. They just drafted Jordyn Tyson, who is very capable of being a WR1, and Bryce Lance, who has the potential to be a really good WR2 in the NFL. This is no longer a WR room that is relying on Olave to carry the workload, and the Saints may have some flexibility now. I’m not saying that it could allow New Orleans to trade Olave, because I truly doubt that would happen, but it does give the team an argument for why they won’t pay him top dollar.

Contract conversations between the two parties may take even longer, but hopefully, they can reach an agreement.