Quarterback Drew Brees is the most revered athlete in the history of New Orleans sports, and arguably, Louisiana sports.

The face of the Saints franchise agreed to a 2 year, $50 million, with $27 million guaranteed. The news was first reported by NFL Network reporter Ian Rapoport.

ESPN Saints reporter Mike Triplett

Brees was set to officially become a free agent tomorrow if a deal was not consummated with the Saints, but all reports leading up to today's news was that a deal was imminent.

Brees stated at the end of last season he wasn't "going anywhere", and planned to re-sign with the team he's been with since 2006, set NFL single-season records and won a Super Bowl.

Despite the belief Brees wouldn't sign elsewhere, the Minnesota Vikings reached out to his agent Tom Condon to gauge interest.

At 39 years old, Brees had no interest in playing elsewhere.

According to Rapoport, the deal gives the team cap space this season, and the bulk of the $27 million will be paid to him this year.

"It's a pretty substantial hometown discount," said Rapoport on the NFL Network. "They (the Saints) still have some things to get done (in free agency)...Brees' contract does allow them to do that."

Had Brees not signed a deal by tomorrow afternoon, the Saints would've been hit with an $18 million cap hit based on the layout of his previous deal.

ESPN NFL reporter Adam Schefter explains that while Brees' deal is technically a 2 year deal, it only guarantees him one year of play with the Saints.

As long as Brees continues to play at a high level, there's no reason the team wouldn't pick up the following year of the deal.

However, if Brees' play takes a giant drop this season (which would be unexpected, even at 39 years old), the team could get out of the deal in 2019.