Saints pick up Olave's 5th-year option, decline Penning's
The New Orleans Saints are exercising wide receiver Chris Olave's fifth-year option, general manager Mickey Loomis said Wednesday, according to NFL Network's Ian Rapoport.
The Saints have also declined to pick up offensive tackle Trevor Penning's fifth-year option, Loomis added. Olave and Penning were drafted in the first round of the 2022 NFL Draft, with the former now under contract through the 2026 season. Olave's fifth-year option will be worth $15.4 million.
Penning is set to become an unrestricted free agent after the 2025 campaign.
Olave has become the Saints' go-to receiver when healthy. The 24-year-old finished his first two campaigns with more than 1,000 receiving yards per season and nine total touchdowns.
The Ohio State product has had four concussions in his three years in the NFL. Olave suffered two concussions in his 2024 campaign, with the most recent occurring in November. He was placed on injured reserve for the remainder of the season after his latest concussion, registering only 280 yards and one touchdown in six games played.
Penning started every game in 2024 after switching from left tackle to right tackle this past season, and was on the field for almost every snap. The 25-year-old struggled to earn playing time at left tackle, resulting in the Saints drafting Taliese Fuaga in 2024.
The final deadline for teams to declare players' fifth-year options is May 1. The Saints hold the ninth overall pick in the 2025 draft.