NEW ORLEANS – Drew Brees and the New Orleans Saints still must close a significant gap in guaranteed money if they are to agree on a five-year contract worth about $100 million by Monday’s looming deadline for a long-term deal, said a person familiar with the negotiations.

The sides were more than $10 million apart in the guaranteed portion of the contract Wednesday, the person told The Associated Press on the condition of anonymity because talks are ongoing.

The stakes are high for both sides and the negotiations have lasted for months, including long gaps in communication between the two camps.