Reports: Saints trade rights to Sean Payton to Broncos

The New Orleans Saints are finalizing a trade to send the rights to former head coach Sean Payton to the Denver Broncos, per multiple national NFL insiders:

Breaking: Saints and Broncos are finalizing compensation in return for Super Bowl-winning HC Sean Payton, sources tell ESPN. This clears the way for Payton to sign with the Broncos to become Denver’s next head coach.

And so Payton is expected to head to Denver as its next HC. pic.twitter.com/HA4RAtE6P8

— Adam Schefter (@AdamSchefter) January 31, 2023

The #Saints and #Broncos just finalized the deal on compensation and sources say New Orleans gets a first-rounder and an early pick — likely a 2nd rounder — but also give a pick back. Complex deal but now done. Sean Payton will be the #Broncos coach.

— Ian Rapoport (@RapSheet) January 31, 2023

Compensation: Denver’s 2023 first-round pick and next year’s second-round pick for Sean Payton and the Saints’ 2024 third.

— Adam Schefter (@AdamSchefter) January 31, 2023

Payton is under contract with New Orleans through the 2024 season despite stepping down in New Orleans last offseason.

Reports earlier Tuesday indicated Denver was down to Payton and Michigan head coach Jim Harbaugh as their final preferred choices to fill their head coaching vacancy.