Chris Olave's 5th-Year Contract Option for 2026 NFL Season to Be Exercised by Saints

Despite being limited to just eight games in 2024, New Orleans Saints wide receiver Chris Olave still earned a commitment from the team.

Saints general manager Mickey Loomis announced on Wednesday that the team will exercise Olave's fifth-year option on his rookie contract, via NFL Network's Ian Rapoport. The team will also decline offensive tackle Trevor Penning's fifth-year contract.

Olave suffered his second concussion of this past season in Week 9 against the Carolina Panthers, which forced him to miss the remainder of the year. He finished the year with 32 catches for 400 yards and a touchdown, by far the lowest production of his budding career.

The No. 11 pick in the 2022 NFL draft, Olave immediately looked like the Saints' next great receiver and the heir apparent to the mantle that once belonged to the likes of Marques Colston and Michael Thomas. He recorded back-to-back 1,000-yard seasons in his first two years in the league, leading New Orleans in receiving both times.

The Saints struggled mightily in 2024 as other key players joined Olave in missing significant time, including quarterback Derek Carr, who played just 10 games due to an oblique injury, a fractured hand and a concussion. New Orleans finished last in the NFC South with a 5-12 record and missed the playoffs for the fourth straight year. Head coach Dennis Allen was fired midway through the season and was replaced by former Philadelphia Eagles offensive coordinator Kellen Moore this offseason.

Moore later told ESPN's Michael Rothstein that he feels Olave "is a 'phenomenal player' who will make a huge impact," so it sounds like there are big plans in store for the wideout.

Retaining Olave for at least the next two years should help Moore's tenure get off to a strong start. A bounce-back performance in 2025 could help Olave earn a long-term deal that includes a massive payday amid the booming receiver market