Drake London's huge extension is a big deal for Saints WR Chris Olave - NFL

Whew. Here’s a huge contract extension for a division rival that carries big implications for the New Orleans Saints. Drake London got a massive contract extension with the Atlanta Falcons, per NFL Network’s Ian Rapoport. ESPN’s Adam Schefter adds that it’s a $141 million deal worth up to $150 million, with $100 million of it guaranteed. Between performance and pedigree, Chris Olave and the Saints should eventually land on numbers in the same neighborhood.

London has appeared in seven more games than Olave, but he’s only caught 18 more passes for 233 yards and three touchdowns. When you break it down to a per-game basis, Olave averages more receptions (5.3) and receiving yards (67.8) per game than London (5.0 catches and 63.9 yards). Both players average 12.8 yards per reception. Take the performance with the pedigree — London was drafted at eighth overall, Olave went at No. 11 in the same draft class — and you get a good idea of what Olave’s contract should look like.

If you’re curious, London’s new deal clocks in at $35.25 million per year. That’s third-most around the league behind Jaxon Smith-Njigba ($42.15 million) and Ja’Marr Chase ($40.25 million), ahead of Justin Jefferson ($35 million) and CeeDee Lamb ($34 million). Those are big numbers, but it’s the kind of company Olave has proven he’s joined. The Saints have an estimated $48.95 million in salary cap space for 2027, and extending Olave will take a chunk out of it but clever accounting can keep it manageable. With cornerstones like Demario Davis, Taysom Hill, Tyrann Mathieu and Ryan Ramczyk going off the books in recent years, the Saints are finally reaching a point where they can invest in the next generation while continuing to bring in more talent through free agency.

1 / 21

LOOK: Photos from first practice of New Orleans Saints OTAs

METAIRIE, LOUISIANA – MAY 28: A detailed view of a New Orleans Saints helmet is seen on the field during a OTA Off season Workout at Ochsner Sports Performance Center on May 28, 2026 in Metairie, Louisiana. (Photo by Tyler Kaufman/Getty Images)

(Tyler Kaufman, Getty Images)

1 / 21

LOOK: Photos from first practice of New Orleans Saints OTAs

(Tyler Kaufman, Getty Images)

2 / 21

LOOK: Photos from first practice of New Orleans Saints OTAs

METAIRIE, LOUISIANA – MAY 28: Head coach Kellen Moore of the New Orleans Saints speaks to media during a OTA Off season Workout at Ochsner Sports Performance Center on May 28, 2026 in Metairie, Louisiana. (Photo by Tyler Kaufman/Getty Images)

(Tyler Kaufman, Getty Images)

3 / 21

LOOK: Photos from first practice of New Orleans Saints OTAs

METAIRIE, LOUISIANA – MAY 28: Head coach Kellen Moore of the New Orleans Saints speaks to media during the OTA Off season Workout at Ochsner Sports Performance Center on May 28, 2026 in Metairie, Louisiana. (Photo by Tyler Kaufman/Getty Images)

(Tyler Kaufman, Getty Images)

4 / 21

LOOK: Photos from first practice of New Orleans Saints OTAs

METAIRIE, LOUISIANA – MAY 28: Travis Etienne Jr. #3 of the New Orleans Saints attends the OTA Offseason Workout at Ochsner Sports Performance Center on May 28, 2026 in Metairie, Louisiana. (Photo by Tyler Kaufman/Getty Images)

(Tyler Kaufman, Getty Images)

5 / 21

LOOK: Photos from first practice of New Orleans Saints OTAs

METAIRIE, LOUISIANA – MAY 28: Moliki Matavao #80 of the New Orleans Saints attends the OTA Offseason Workout at Ochsner Sports Performance Center on May 28, 2026 in Metairie, Louisiana. (Photo by Tyler Kaufman/Getty Images)

(Tyler Kaufman, Getty Images)

6 / 21

LOOK: Photos from first practice of New Orleans Saints OTAs

METAIRIE, LOUISIANA – MAY 28: Jordyn Tyson #0 of the New Orleans Saints attends the OTA Offseason Workout at Ochsner Sports Performance Center on May 28, 2026 in Metairie, Louisiana. (Photo by Tyler Kaufman/Getty Images)

(Tyler Kaufman, Getty Images)

7 / 21

LOOK: Photos from first practice of New Orleans Saints OTAs

METAIRIE, LOUISIANA – MAY 28: Oscar Delp #3 of the New Orleans Saints attends the OTA Offseason Workout at Ochsner Sports Performance Center on May 28, 2026 in Metairie, Louisiana. (Photo by Tyler Kaufman/Getty Images)

(Tyler Kaufman, Getty Images)

8 / 21

LOOK: Photos from first practice of New Orleans Saints OTAs

(Tyler Kaufman, Getty Images)

9 / 21

LOOK: Photos from first practice of New Orleans Saints OTAs

METAIRIE, LOUISIANA – MAY 28: Travis Etienne Jr. #3 of the New Orleans Saintsduring a OTA Offseason Workout at Ochsner Sports Performance Center on May 28, 2026 in Metairie, Louisiana. (Photo by Tyler Kaufman/Getty Images)

(Tyler Kaufman, Getty Images)

10 / 21

LOOK: Photos from first practice of New Orleans Saints OTAs

METAIRIE, LOUISIANA – MAY 28: Spencer Rattler #2 of the New Orleans Saints attends the OTA Offseason Workout at Ochsner Sports Performance Center on May 28, 2026 in Metairie, Louisiana. (Photo by Tyler Kaufman/Getty Images)

(Tyler Kaufman, Getty Images)

11 / 21

LOOK: Photos from first practice of New Orleans Saints OTAs

METAIRIE, LOUISIANA – MAY 28: Tyler Shough #6 and CJ Donaldson #43 of the New Orleans Saints attend the OTA Offseason Workout at Ochsner Sports Performance Center on May 28, 2026 in Metairie, Louisiana. (Photo by Tyler Kaufman/Getty Images)

(Tyler Kaufman, Getty Images)

12 / 21

LOOK: Photos from first practice of New Orleans Saints OTAs

(Tyler Kaufman, Getty Images)

13 / 21

LOOK: Photos from first practice of New Orleans Saints OTAs

METAIRIE, LOUISIANA – MAY 28: Tyler Shough #6 of the New Orleans Saintsduring a OTA Offseason Workout at Ochsner Sports Performance Center on May 28, 2026 in Metairie, Louisiana. (Photo by Tyler Kaufman/Getty Images)

(Tyler Kaufman, Getty Images)

14 / 21

Saints WR Chris Olave remains present at OTAs as he seeks extension

METAIRIE, LOUISIANA – MAY 28: Chris Olave #12 of the New Orleans Saintsduring a OTA Offseason Workout at Ochsner Sports Performance Center on May 28, 2026 in Metairie, Louisiana. (Photo by Tyler Kaufman/Getty Images)

(Tyler Kaufman, Getty Images)

15 / 21

LOOK: Photos from first practice of New Orleans Saints OTAs

METAIRIE, LOUISIANA – MAY 28: Barion Brown #19 of the New Orleans Saintsduring a OTA Offseason Workout at Ochsner Sports Performance Center on May 28, 2026 in Metairie, Louisiana. (Photo by Tyler Kaufman/Getty Images)

(Tyler Kaufman, Getty Images)

16 / 21

LOOK: Photos from first practice of New Orleans Saints OTAs

(Tyler Kaufman, Getty Images)

17 / 21

LOOK: Photos from first practice of New Orleans Saints OTAs

(Tyler Kaufman, Getty Images)

18 / 21

LOOK: Photos from first practice of New Orleans Saints OTAs

METAIRIE, LOUISIANA – MAY 28: CJ Donaldson #43 of the New Orleans Saintsduring a OTA Offseason Workout at Ochsner Sports Performance Center on May 28, 2026 in Metairie, Louisiana. (Photo by Tyler Kaufman/Getty Images)

(Tyler Kaufman, Getty Images)

19 / 21

LOOK: Photos from first practice of New Orleans Saints OTAs

METAIRIE, LOUISIANA – MAY 28: Jay’Viar Suggs #62 of the New Orleans Saintsduring a OTA Offseason Workout at Ochsner Sports Performance Center on May 28, 2026 in Metairie, Louisiana. (Photo by Tyler Kaufman/Getty Images)

(Tyler Kaufman, Getty Images)

20 / 21

LOOK: Photos from first practice of New Orleans Saints OTAs

METAIRIE, LOUISIANA – MAY 28: Justin Reid #21 of the New Orleans Saintsduring a OTA Offseason Workout at Ochsner Sports Performance Center on May 28, 2026 in Metairie, Louisiana. (Photo by Tyler Kaufman/Getty Images)

(Tyler Kaufman, Getty Images)

21 / 21

LOOK: Photos from first practice of New Orleans Saints OTAs

METAIRIE, LOUISIANA – MAY 28: The New Orleans Saints defense stands in a huddle during a OTA Off season Workout at Ochsner Sports Performance Center on May 28, 2026 in Metairie, Louisiana. (Photo by Tyler Kaufman/Getty Images)

(Tyler Kaufman, Getty Images)

This article originally appeared on Saints Wire: Falcons extend Drake London: What it means for Saints WR Chris Olave

Drake London’s huge extension is a big deal for Saints WR Chris Olave

Tags: