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Sean Payton signs 5-year extension

Updated: January 9, 2013, 7:17 PM ET
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NEW ORLEANS -- New Orleans Saints coach Sean Payton has signed a five-year contract extension that will run through the 2017 season.

The team announced the extension Wednesday but did not release details. The deal is expected to pay Payton more than $8 million annually, which should establish him as the NFL's highest-paid coach, a league source told ESPN. Payton agreed to the deal in principle on Dec. 29.

Payton would have been the most coveted available coach in the NFL if ...

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