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As to the first option, it arguably makes more sense for Brees to sit tight on what would be (thanks to arbitrator Stephen Burbank) a $23.57 million salary and cap number for 2013. With the salary cap expected to be flat, it would be impractical for the Saints to devote nearly 20 percent of it to one player, even if that one player is Drew Brees.

And so the July 3 ruling from Burbank has backed the Saints into a corner. With the Saints finalizing during the past week all but one of their rookie deals, it looks like the front office has cleared the way for G.M. Mickey Loomis to focus exclusively on working out a long-term contract for Drew Brees before Monday, July 16 at 4:00 p.m. ET.

After July 16, Brees still has flexibility | ProFootballTalk

"A Veteran is someone who, at one point in his life, wrote a blank check made payable to "The United States of America" for an amount of "up to and including my life."