Saints offer Brees multiyear deal: Report By Sports Xchange

New Orleans Saints quarterback Drew Brees throws a pass against the Detroit Lions in the fourth quarter during their NFL NFC wildcard playoff football game in New Orleans, Louisiana, January 7, 2012. (REUTERS/Sean Gardner)

The New Orleans Saints have offered quarterback Drew Brees a multiyear deal worth close to $19 million-per-year, according to a report on Pro Football Talk, citing a source close to the talks.

The source also told Pro Football Talk that Brees was seeking less than the $21 million-plus annual amount that had previously been reported.

The two sides have until July 16 to work out a multiyear deal, or Brees would face a choice of sitting out the season or playing under a one-year franchise-tag distinction for roughly $16 million.

Brees, 33, who broke the single-season passing yardage record in 2011 with 5,476, hasn’t signed his one-year tender, and hasn’t reported to the team’s offseason workouts.