Rumors have been swirling all offseason that the New Orleans Saints may trade wide receiver Chris Olave. On Wednesday, the front office made a decision regarding Olave's contract that could depict his future with the club.

Reports indicate that the Saints are exercising Olave's fifth-year option, according to Ari Meirov of the 33rd Team. This decision ties the 24-year-old wideout to New Orleans through the 2026 season. Additionally, the franchise elected to decline right tackle Trevor Penning's fifth-year option, which puts him in line to become a free agent after the 2025 season.

“The Saints are exercising the fifth-year option on WR Chris Olave for $15.493M but declining the option on OT Trevor Penning, which would’ve been $16.685M Penning is now scheduled to become a free agent after the season.”

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Olave played in just eight games last season after suffering two concussions during the 2024-25 campaign. The Saints' offense struggled throughout last season, and not having Olave on the field hurt them. He ended the year with just 32 receptions, 400 receiving yards, and one touchdown.

His past production indicates that Olave can be a reliable target. The former Ohio State Buckeye has accumulated over 1,000 receiving yards in his previous two seasons in New Orleans. His reliability on the field, when healthy, of course, is likely why the organization decided to already pick up his fifth-year option well ahead of his fourth season in the NFL.

The Saints are going through plenty of changes after firing Dennis Allen as head coach in early November. New Orleans hired former offensive coordinator Kellen Moore as Allen's replacement. Moore is coming off a Super Bowl win in which he called plays for the Philadelphia Eagles. He's also served as offensive coordinator for the Los Angeles Chargers and Dallas Cowboys. This is his first venture as a head coach in his career.