The New Orleans Saints have provided another important reference point for the Baltimore Ravens as they consider a long-term extension for Zay Flowers.New Orleans signed Chris Olave to a four-year extension worth up to $132 million, including $90 million guaranteed. The $33 million annual maximum places Olave near the top of a wide receiver market led by Jaxon Smith-Njigba, JaMarr Chase, Drake London and Justin Jefferson, according to Over the Cap.Olave earned the agreement after setting career highs with 100 receptions, 1,163 yards and nine touchdowns last season. His deal carries direct implications for Flowers, another first-round receiver who has developed into his teams leading passing-game option.Chris Olave set career highs across the board last season:100 catches1,163 receiving yards9 TDs https://t.co/ozfI7USnn0 Adam Schefter (@AdamSchefter) July 30, 2026Baltimore exercised Flowers fifth-year option in April, guaranteeing him approximately $27.3 million for 2027. He remains scheduled to earn a $2.66 million base salary in 2026, giving the Ravens two seasons of contractual control but little protection against continued growth in the receiver market.Flowers caught 86 passes for a franchise-record 1,211 yards and five touchdowns in 2025. He earned his second consecutive Pro Bowl selection and has produced 237 receptions, 3,128 yards and 14 touchdowns through three seasons.The Olave extension does not guarantee Flowers will receive $33 million or more annually. Contract negotiations will account for guarantees, structure, incentives and each players production. It does, however, give Flowers representatives another comparable deal involving a receiver from the same draft class.Baltimore could wait because Flowers is under contract through 2027. The risk is that another strong season and additional receiver extensions could increase his price.The Ravens already secured Rashod Bateman through 2029, but Flowers remains Lamar Jacksons primary receiver. If Baltimore views him as a long-term cornerstone, Olaves contract strengthens the argument for acting before the market climbs again.This article originally appeared on Ravens Wire: Chris Olaves $132 million deal raises price for Zay Flowers