BREAKING NEWS: ESPN Reports Drew Brees and New Orleans Saints Reach $100 Million Deal

Details are still few, and no official announcement has been made, but ESPN is reporting that Drew Brees and the New Orleans Saints have finally reached a deal.

The preliminary report says that this morning, the Saints settled on a 5-year, $100 million contract that will guarantee Brees a record-breaking $40 million in the first year alone.  The report says the information comes from "league, players union, and team sources," but does not name those sources.

ABC and the Associated Press are also confirming the story and says this deal is now the largest in NFL history, coming on the heels of Peyton Manning's $96 million deal with Denver.

Brees will average a record $20 million annually -- Peyton Manning's five-year deal with the Denver Broncos averages $19.2 million -- and is also in line for $60 million in guaranteed money, reportedly to be paid out through the 2014 season. The guarantee matches what Detroit Lions WR Calvin Johnson hauled in earlier this offseason when he signed an eight-year, $132 million contract.

--SOURCE:  USA Today

Brees even confirmed the deal by Twitter this afternoon: