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Marques Colston Inks New Five-Year Deal with Saints

Chris Graythen/Getty Images(NEW ORLEANS) -- The New Orleans Saints and wide receiver Marques Colston agreed on a five-year contract on Tuesday.

Headed into free agency, the Saints had hoped to ink Colston when they placed a franchise tag on quarterback Drew Brees.

"This was important to me, to be back with this team in this situation," Colston said in a statement released by the Saints. "I was not looking to chase free agency; it was more important for me to be back in our program, a program we have been building and a program I believe in. The Saints have been loyal to me from the beginning and I want to thank my agent Joel Segal and Saints GM Mickey Loomis for getting this deal done before free agency. Now it is time to get back to work and win some more rings."

The deal is worth about $40 million with $19 million guaranteed, according to ESPN NFL Insider John Clayton.

Colston pulled in 80 catches for 1,143 yards and eight touchdowns in only 14 games in 2011.

Copyright 2012 ABC News Radio

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