Brees officially announced his retirement from the NFL on Sunday, Nick Underhill of NewOrleans.Football reports.

EDGE Analysis

The writing for Brees hanging up his cleats has been on the wall all offseason, and it's fitting that his official announcement comes 15 years to the date that he initially signed with the Saints. In his career, Brees has earned 13 selections to the Pro Bowl and led the league in passing yards on seven separate occasions, not to mention earning a championship for New Orleans in Super Bowl XLIV (plus game MVP honors). It's all but a given that Brees' next stop will be the NFL Hall of Fame, but the Saints' quarterback position looks more uncertain. The team still has Taysom Hill (knee) under contract, while Jameis Winston is currently scheduled for free agency.

The Saints have renegotiated Brees' contract to open up $24 million in 2021, Nick Underhill of NewOrleans.Football reports.

EDGE Analysis

This move allows the Saints to create cap space now, while waiting until June 2 to officially place Brees on the retired list should he ultimately decide to do so. Basically, they can split his bonus prorations in 2021 and 2022 instead of carrying the entire cap hit at once. Tom Pelissero of NFL Network reports that his contract is now down to base salary. Nothing has officially been announced about Brees' future, but this move is seemingly another signal towards retirement.

Coach Sean Payton told Will Brinson of CBS Sports' "Pick Six Podcast" on Wednesday that he expects Brees to make a decision on whether he'll retire within the next couple weeks.

EDGE Analysis

Payton seemed to hint that Brees is headed for retirement, though it's possible the 42-year-old could surprise and choose to return for another season in 2021. The quarterback completed at least 70 percent of his passes for a fifth straight season in 2020, but the Saints once again came up short in the playoffs -- a recurring theme throughout the second half of Brees' career. Payton has been clear about his desire to re-sign Jameis Winston, so the Saints seem to be preparing for a future without Brees.

Brees intends to take his time before deciding whether to return in 2021 or hang up his cleats, Mike Triplett of ESPN reports.

EDGE Analysis

Brees, who turned 42 just two days before Sunday's 30-20 loss to the Buccaneers in the NFC divisional round, hasn't yet officially announced a decision about his future in the NFL, but it's been widely speculated that he'll choose to end his storied career this offseason. Such rumblings have only grown louder after Brees' rough three-interception showing against Tampa Bay, a performance which cemented the fact that the aging veteran's arm strength and mobility have noticeably diminished, even if his processing speed remains as acute as ever. If the future Hall of Famer indeed decides to call it a career, Taysom Hill and Jameis Winston could end up competing for the starting job, though only Hill currently is under contract with the Saints for 2021.

Brees completed 19 of 34 pass attempts for 134 yards, a touchdowns and three interceptions in Sunday's NFC divisional round loss to Tampa Bay.

EDGE Analysis

Brees was unable to push the ball downfield (3.9 yards per attempt) -- as has been the case all season -- but he had the Saints in position to advance to the next round until he threw his third interception in the fourth quarter that ultimately sealed his team's fate. Tampa Bay's defense came at the future Hall of Famer as advertised, applying pressure with extra rushers and forcing the immobile veteran to get rid of the ball quickly and, at times, inaccurately. The 42-year-old was unable to connect with top wideout Michael Thomas for the first time in a game in which both players played all four quarters during their five years together. Lots of credit for Brees' rough outing should be given to the Buccaneers' defense and defensive coordinator Todd Bowles, but the aging quarterback's untimely turnovers put Tampa's offense in very favorable field position on multiple occasions. Rumblings of Brees' potential retirement grew louder after his disappointing play in the season-ending loss, but he remained mum on the subject after the game. If the living legend should return for the 2021 season (scheduled to make $25 million in the last year of his current contract), fantasy managers shouldn't let the name on the back of his jersey fool them into thinking he can turn back the clock in terms of production. Brees doesn't possess the arm strength, pocket mobility or deep accuracy he once had in his prime, so expectations should be held in check if he decides to give it another go.

Brees completed 28 of 39 pass attempts for 265 yards and two touchdowns in the Saints' 21-9 win over the Bears on Sunday.

EDGE Analysis

He also added three carries for two yards. The veteran signal-caller played a highly-conservative game, dinking and dunking all afternoon while delivering touchdown strikes of 11 yards to Michael Thomas and six yards to Latavius Murray. Brees will look to lead his team on a deep playoff run in what is believed to be his final season, and the Saints will host the Buccaneers in the NFC divisional round next week. In two regular-season wins against Tampa Bay, Brees provided 382 passing yards, six passing touchdowns and no picks.

Brees completed 22 of 32 pass attempts for 201 yards and three touchdowns during Sunday's 33-7 win over the Panthers.

EDGE Analysis

Brees averaged a modest 6.3 yards per attempt but made up for it by completing 69 percent of his passes and notching three TDs for the fourth time this season. The veteran missed four games and had another cut short due to injury in addition to operating without Michael Thomas (ankle) for most of the campaign, but he still finishes with an impressive 24:6 TD:INT to go along with 2,942 yards. Brees should have all his weapons available for the upcoming wild-card round matchup with the Bears and will look to make another deep run in what could be the last postseason of his career.

Brees completed 19 of 26 passes for 311 yards with no touchdowns and two interceptions in the Saints' 52-33 win over the Vikings on Friday. He also netted minus-3 yards on three rushes.

EDGE Analysis

The future Hall of Famer's TD:INT ratio was far from pretty, but the good news was Brees was considerably sharper from an efficiency standpoint than in his return from injured reserve against the Chiefs in Week 14. The 41-year-old averaged a robust 12.0 yards per attempt despite operating without Michael Thomas and Tre'Quan Smith, who are both on injured reserve with ankle injuries. Brees also crossed the 300-yard threshold for only the second time this season, and he'll have one more chance to knock off any rust and get closer to full health before the postseason when the Saints tangle with the Panthers in a Week 17 road matchup.

Brees completed 15 of 34 passes for 234 yards and three touchdowns with one interception in Sunday's 32-29 loss to Kansas City.

EDGE Analysis

Returning to the lineup after a four-game absence, Brees looked rusty early and failed to complete his first five passes, but he looked better in the second half and connected with Latavius Murray, Alvin Kamara and Lil'Jordan Humphrey for TDs as he kept New Orleans in the game against the defending champs. Brees and the Saints will take another shot at locking up the NFC South title in Week 16's clash with a Vikings squad on the verge of elimination from the playoff race.

Brees (ribs) was activated off injured reserve and will start Sunday against the Chiefs.

EDGE Analysis

This was a no-brainer considering coach Sean Payton confirmed Friday that Brees would be starting in Week 15 against the Chiefs. The veteran quarterback has missed the last four games after suffering a punctured lung to go along with 11 rib fractures, but he'll return to the lineup with the Saints still in a prime spot to compete for the No. 1 overall seed in the NFC. Taysom Hill will slide back to his multi-dimensional role within the offense.