NEW ORLEANS (AP) — The New Orleans Saints and record-setting quarterback Drew Brees have agreed on a two-year, $50 million contract, a person familiar with the situation said.

The person spoke to The Associated Press on condition of anonymity on Tuesday because the deal has not been announced.

Brees has said repeatedly that he is taking career decisions one year at a time. His new contract gives the 41-year-old, 19-year veteran the leverage to decide after this season whether he wants to continue playing.

Brees missed five games last season with a throwing hand injury that required surgery, but was still productive while leading New Orleans to a third straight playoff appearance. Brees’ 74.3 percent completion rate ranked second in NFL history behind only his 2018 record of 74.4 percent.

He also passed for 27 touchdowns while throwing just four interceptions and was selected to a fourth straight Pro Bowl, the 13th of his career.

Brees was due to become a free agent this offseason, but he announced in mid-February that he wanted to keep playing and retire as a Saint. So the only real questions were when the deal would get done and how much it would be worth.

In this case, Brees accepted deal that did not place him in the top 10 QBs in the NFL in terms of annual salary, essentially taking a home-town discount in hopes of giving the club a better chance to build a Super Bowl contender around him.

The Saints have made the playoffs the past three seasons, including a trip to the NFC title game in 2018. Each of their past three playoff losses have came on the final play, with two ending in overtime.

Brees is the NFL’s all-time leader in completions (6,867), passing yards (77,416), and touchdowns (547). His career touchdowns mark is just six ahead of 20-year veteran Tom Brady.

Brees began his career with the San Diego Chargers, who drafted him out of Purdue in 2001. He joined the Saints as a free agent in 2006 on the heels of a career-threatening shoulder injury.