It’s widely known that the New Orleans Saints and wide receiver Chris Olave are in the midst of contract extension negotiations — and even Olave said recently that he feels like a deal will get done. But Olave’s push for a new contract could have just gained another important data point.

Green Bay Packers wideout Christian Watson reportedly agreed to a four-year, $110.5 million contract extension on Thursday, including a $31 million signing bonus. For the Saints, that number is significant as they continue navigating an appropriate average annual value for their 25-year-old standout wide receiver. Watson’s deal does not give general manager Mickey Loomis and the front office an exact blueprint of what Olave’s deal will look like, but it does help frame the market. The Packers’ wide receiver has been a dynamic playmaker, but Olave has been more productive and consistent since entering the league.

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If Watson is now valued at more than $27 million per year, Olave’s camp can now reasonably point towards that in contract negotiations. Both players were selected in the 2022 NFL Draft — and Olave has caught 158 more passes in just seven more games played, racking up nearly 1,500 more receiving yards. Watson’s career-best season saw him go for 620 receiving yards, while Olave has eclipsed 1,000 in three of his first four seasons. That significance alone could very well propel Olave into the $30 million-per-season range.

The Saints also have to consider the cost of waiting. Wide receiver prices rarely go down, and every new deal can push the market even higher for Olave. Getting something done before training camp could also prevent the situation from becoming a bigger storyline later in the season.

Watson’s extension may not directly set Olave’s price, but it appears to have carved out the floor on what a deal would look like. Day by day, the argument that the Saints’ top receiver deserves a major payday of his own continues to strengthen.

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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)

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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)

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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)

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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)

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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)

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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)

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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)

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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)

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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)

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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)

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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)

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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)

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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)

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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)

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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)

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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)

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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)

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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)

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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)

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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)

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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)

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LOOK: Highlights from Saints’ second week of OTAs practices

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: NFL Rumors: Saints WR Chris Olave’s value increases with recent news