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Deal is now in place: Saints and Tyrann Mathieu officially reached agreement on a three-year, $33 million contract, including $18 million fully guaranteed, per sources. Language still needs to be finalized and the deal signed. But Mathieu is returning home to New Orleans.
— Adam Schefter (@AdamSchefter) May 2, 2022
Monday morning the news broke early that Tyrann Mathieu was expected to be joining the New Orleans Saints. The deal was not yet finalized, but seems that all was in line for the Honey Badger to return to his hometown. Now, per ESPN’s Adam Schefter, the contract is in place and Mathieu is officially a Saint.
The deal is for three years and $33 million with $18 million guaranteed. Often times the contract structure (void years, guaranteed money, etc) of three-year deals set up for a shorter lifespan, often just one year. But these terms indicate that it’s likely Mathieu will play out the next three seasons in New Orleans.
On an average annual value of $11 million, the Saints got a bit of a bargain here. Spotrac.com had Mathieu’s market value set at $14.8 million per year and Justin Reid, the player that replaced Mathieu in Kansas City took a deal worth $10.5 million. New Orleans effectively signed the three-time First-Team All-Pro for just half a million dollar more per year. Not a bad deal at all.
The Saints roster in 2022 is officially better than it was in 2021. In the meanwhile, the NFC has gotten weaker. The Saints are now bona fide contenders after an impactful offseason. Mathieu, now officially signed, will be a key leader for the Saints, not just on defense, but for the team as a whole.