NEW ORLEANS -- The New Orleans Saints on Thursday agreed to a two-year extension with veteran safety Tyrann Mathieu.
Terms were not disclosed, but a source said Mathieu agreed to lower his salary in 2024 in exchange for adding more years to his three-year, $33 million deal he signed as a free agent in 2022. The new deal is worth a total of $13 million, according to a league source.
"I'm from here and it's a blessing to play here," Mathieu said. "To kind of keep that going, man, it means a lot to me."
Mathieu said he would've taken a pay cut to stay in New Orleans on his current deal but having an additional year added to his contract meant a lot.
"I've made a lot of money in this league. I think I like the situation I'm in right now with the Saints. I think I've come along in the system, so for me, that's exciting," he said. "... I love being in New Orleans, I love being around my family, I love to be able to be in the community."
Mathieu was entering the final year of his deal, which was set to automatically void next March. He was originally owed $9 million in salary and bonuses this season and would have counted $12.067 million against the 2024 salary cap before his extension.
Mathieu, 31, has started 34 games for the Saints and has seven interceptions in New Orleans, including one for a touchdown. He said he hopes adding a year to his deal will give him the opportunity to retire in New Orleans.
"I hope so, but I'd probably say more than that, I've got another chance to help these guys win," Mathieu said. "I'd say the last couple of years have kind of been underwhelming, to say the least. To have another opportunity to suit back up with these guys and help this whole city win, that means a lot to me."
This is the second move the Saints have made with one of their starting safeties this offseason, as they have informed safety Marcus Maye that he will be released, according to a source. It is one of several moves the Saints have made to get compliant with the 2024 salary cap but is the first extension they have worked out this offseason.
Mathieu was selected by the Arizona Cardinals out of LSU in the third round of the 2013 draft. He also played for the Houston Texans and the Kansas City Chiefs. The three-time All-Pro was one of the Chiefs' starting safeties in their Super Bowl victory over the San Francisco 49ers during the 2019 season.