NEW ORLEANS, LA (NBC33) — UPDATE: ESPN is reporting that a deal has been reached between Drew Brees and the New Orleans Saints. After a year of negotiations the quarterback agreed to the long-term contract. The deal includes $100 million for 5 years. That's about $40 million a year for the superstar player.

This deal makes Drew Brees the highest paid player in the NFL.

Since arriving in 2006 as a free agent, Brees has led the team to three division titles and a Super Bowl.

ORIGINAL: Sources say the Saints and Brees are more than $10-milliion apart in guaranteed money the quarterback will receive.

Both Brees and the Saints have proposed 5-year contracts worth about $100 million. But there is a larger difference in size and structure of guaranteed bonuses.

The two sides have until Monday at 3:00 p.m. to reach a deal.