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"What Drew has accomplished in his time with the Saints, he deserves to be the highest paid player in the league," said Saints Executive Vice President/General Manager Mickey Loomis. "We are excited to have this deal done and behind us and look forward to the next five years with Drew as our QB."

The team also announced that Drew will available in a press conference on July 24 at Saints Camp in Metairie. The time is to be determined.

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