Update: Unless something changes in the next few days, Brees (foot) will not have a new contract in place before the Saints kick off training camp, Mike Triplett of ESPN.com reports. Brees, however, has insisted that he will not hold out or skip any practice time, and he fully participated in OTAs and minicamp. Saints veterans report to training camp in West Virginia on Wednesday.
Analysis: Brees is entering the last year of his contract, but the Saints appear content to let him play out the year with a whopping salary-cap figure of $30 million. He's stated that the unofficial deadline to complete an extension is the start of the regular season. Given that Brees continues to be productive -- he led the NFL in passing for the fourth time in five seasons last year with 4,870 yards in just 15 games played -- it would not be surprising to see the Saints and their franchise quarterback strike a deal prior to Sept. 1.