The official news comes via Greg Bensel's Twitter account, though Jay Glazer was the first to tweet about it:
Saints Sign Colston to Five-Year Deal
The deal is reported to be worth around $40 million, with about $19 million in guarantees. This information comes per ESPN's John Clayton.
This is obviously great news for the Saints and their fans. Now the team can focus on getting offensive guard locked up to a long-term deal before he hits the open market at 4pm ET today. Get 'er done, Mickey!