According to a report from NFL Network’s Ian Rapoport, the New Orleans Saints are on the verge of signing former Kansas City Chiefs safety Tyrann Matheu.
The #Saints are making a key post-draft addition, as they’re expected to sign All-Pro safety Tyrann Mathieu, sources say. A long-awaited signing that should be finalized in the coming days, the Honey Badger lands in a perfect spot.— Ian Rapoport (@RapSheet) May 2, 2022
It appears the Saints intend to wait until after Monday’s 3 p.m. (Arrowhead Time) cutoff to sign the three-time All-Pro, since free agents signed after that time will not count against the signing team in the compensatory draft picks formula for 2023.
UPDATE at 3:14 p.m. According to ESPN’s Adam Schefter, Mathieu and the Saints have agreed to a three-year deal with $18 million guaranteed.
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
On March 14, the Chiefs signed 25-year-old Texans safety Justin Reid to a three-year, $31.5 million contract, including $20 million guaranteed. In early April, Mathieu told Kansas City Star reporter Sam McDowell that he might have taken the deal the Chiefs gave Reid. The new deal he made in New Orleans suggests he might have been telling the truth — but it’s unknown if the Chiefs actually would have made that offer to Mathieu.
Mathieu joined the Chiefs in 2019, signing a three-year, $42 million contract to come to Kansas City from the Houston Texans. He is often credited with being one of the defensive leaders who helped turn that unit around for the 2019 championship run.
Many observers expected that Kansas City would find a way to retain Mathieu after his contract expired this season. But the Chiefs apparently felt that the nine-year NFL veteran — who will turn 30 this month — was asking for more money than he was worth on the open market. Since Mathieu lasted so long on the free-agent market, it now appears the Chiefs may have made the correct decision.