Sean Payton breaks the news of his 5-year extension with the Saints

New Orleans Saints head coach Sean Payton says he has agreed to a five-year contract extension.

Payton made the announcement at the NFC coaches' breakfast Wednesday, though he added that he hasn't signed the contract. He has two years remaining on his current deal.

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Sean Payton has agreed with the Saints on a 5-year contract extension worth in excess of $45M, per @Edwerderespn.
— Adam Schefter (@AdamSchefter) March 23, 2016

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Payton, 52, has coached the Saints since 2006, though he was suspended for the 2012 season as a result of "Bountygate." In those nine seasons, he has an 87-57 record in the regular season and a 10-6 record in the postseason. He helped lead the Saints to their first Super Bowl championship in the 2009-10 season.

This past season, New Orleans finished 7-9 for the second consecutive year.