They agreed upon the deal just hours before becoming an unrestricted free agent.
Colston didn't want to leave New Orleans because he fits into the complicated offense and Drew Brees' passes than he would have with another team.
jayglazer Jay Glazer
Scoopage: Take 1 name off the list of free agents set to hit the market today. Saints have just agreed to new 5 yr deal w WR Marques Colston
Meanwhile, on the West Coast, Randy Moss who last week worked out with the New Orleans Saints has decided to put his 35-year-old body in a San Francisco 49’ers uniform with a one-year deal. Moss will have an opportunity to redeem himself after a horrible 2010 season and with his being out of the game last year.
New Orleans Saints GM Mickey Loomis is working feverishly to finalize two of their players, wide receiver Marques Colston and guard Carl Nicks who become unrestricted free agent before 3 p.m. on Tuesday. They are two players the Saints don't want to lose.
All-Pro guard Nicks said on his Twitter, "Y'all known I keep it real on this. My agent told me the Saints made an offer and it's respectable.
"I still have to talk it over with my family."
Nicks wants to be the highest paid guard in the NFL. Logan Manking made $8.1 million last season, highest for a guard in the league.
"I made a couple of Pro Bowls," said Nicks. "For my first three years I was the lowest paid starting guard in the NFL."
Colston is asking for $7 million a year.
Saints owner Tom Benson and coach Sean Payton requested a meeting with NFL commissioner Roger Goodell and they met with him on Monday in New York, They made no disclosure on the meeting. Payton and Loomis are expected to get suspensions for their involvement in Bountygate, as well as some players.
Jason La Canform of NFL Network reports that a decision on punishment is expected by the end of this week, and that league officials will spend Tuesday and Wednesday discussing the issue.
Nicks said he believes the Saints didn't offer him a deal before Monday was because they knew they couldn't meet the demands of what he will get as a free agent with another club and didn't want to insult him with a "low ball" offer.
Nicks said he would "sleep" on the Saints offer until 3 p.m. when unrestricted players become free agents.
Saints cornerback Tracy Porter sent out this twitter on Monday: "With free agency starting on Tuesday, it feels like Xmas and draft day all over again. I'm excited to see who is INTERESTED in my talents." Porter is a starter and will get an offer the Saints probably won't match.
The Saints' backup quarterback Chase Daniel signed a one-year deal worth $1 million, including a $300,000 signing bonus. Daniels would have become an unrestricted free agent on Tuesday had he not agreed to the Saints offer, but he wants to develop his skills one more year under Drew Brees and Sean Payton.
Daniels' deal won't eat up a full $1 million of the Saints' cap because the salary cap only counts the top 51 salaries at any given time. Daniels' $1 million cap figure will replace a figure from the bottom of the list, likely about $500,000.
That would give the Saints about $6 million in cap space.
The Saints will continue to get cap space by not re-signing some players.
SOME hither, others yon: Defensive end Robert Nkemdiche of Grayson, Ga., the nation 's No. 1 prospect, will visit LSU on Saturday. "It will be my first time seeing LSU," Nkemdiche told ajc.com. "I'm ready. I think it will be very, very fun." Alabama is the front runner to land him...N o.6 seed LSU will oppose No. 3 seed Oregon at Oregon on Tuesday night in the opening round of the NIT . ESPN will carry the 8:30 game. Oregon is favored by 7 points...
by Ed Staton