Sean Payton's five-year contract with the New Orleans Saints will pay him $8 million annually.

The contract will make Payton the highest paid coach in the NFL.

Bill Belichick is believed to be earning just under $8 million per season with the New England Patriots.

Payton and Saints owner Tom Benson only have agreed in principle to the extension.

Sean Payton and the New Orleans Saints have agreed on terms in principle on a new multi-year contract extension.

Payton has been suspended for the 2012 NFL season.

Payton would have been free to negotiate with other teams this offseason.

The following players have been voted to the 2012 Pro Bowl.

AFC Offense

Quarterbacks — Tom Brady, New England Patriots; Peyton Manning, Denver Broncos; Matt Schaub, Houston Texans

Running backs — Jamaal Charles, Kansas City Chiefs; Arian Foster, Houston Texans; Ray Rice, Baltimore Ravens

Fullback — Vonta Leach, Baltimore Ravens

Wide receivers — A.J. Green, Cincinnati Bengals; Andre Johnson, Houston Texans; Reggie Wayne, Indianapolis Colts; Wes Welker, New England Patriots

Tight ends — Rob Gronkowski, New England Patriots; Heath Miller, Pittsburgh Steelers

Tackles — Duane Brown, Houston Texans; Ryan Clady, Denver Broncos; Joe Thomas, Cleveland Browns; Marshall Yanda, Baltimore Ravens

Guards — Logan Mankins, New England Patriots; Wade Smith, Houston Texans

Centers — Chris Myers, Houston Texans; Maurkice Pouncey, Pittsburgh Steelers

AFC Defense

Ends — Elvis Dumervil, Denver Broncos; Cameron Wake, Miami Dolphins; J.J. Watt, Houston Texans

Interior linemen — Geno Atkins, Cincinnati Bengals; Haloti Ngata, Baltimore Ravens; Vince Wilfork, New England Patriots

Outside linebackers — Tamba Hali, Kansas City Chiefs; Robert Mathis, Indianapolis Colts; Von Viller, Denver Broncos

Inside/middle linebackers — Derrick Johnson, Kansas City Chiefs; Jerod Mayo, New England Patriots

Cornerbacks — Champ Bailey, Denver Broncos; Antonio Cromartie, New York Jets; Johnathan Joseph, Houston Texans

Strong safeties — Eric Berry, Kansas City Chiefs; LaRon Landry, New York Jets

Free safety — Ed Reed, Baltimore

AFC Specialists

Placekicker — Phil Dawson, Cleveland Browns

Punter — Dustin Colquitt, Kansas City Chiefs

Kick returner — Jacoby Jones, Baltimore Ravens

Special team — Matthew Slater, New England Patriots

NFC Offense

Quarterbacks — Robert Griffin III, Washington Redskins; Aaron Rodgers, Green Bay Packers; Matt Ryan, Atlanta Falcons

Running backs — Frank Gore, San Francisco 49ers; Marshawn Lynch, Seattle Seahawks; Adrian Peterson, Minnesota Vikings

Fullback — Jerome Felton, Minnesota Vikings

Wide receivers — Victor Cruz, New York Giants; Calvin Johnson, Detroit Lions; Julio Jones, Atlanta Falcons; Brandon Marshall, Chicago Bears

Tight ends — Tony Gonzalez, Atlanta Falcons; Jason Witten, Dallas Cowboys

Tackles — Russell Okung, Seattle Seahawks; Joe Staley, San Francisco 49ers; Trent Williams, Washington Redskins

Guards — Jahri Evans, New Orleans Saints; Mike Iupati, San Francisco 49ers; Chris Snee, New York Giants

Centers — Jeff Saturday, Green Bay Packers; Max Unger, Seattle Seahawks

NFC Defense

Ends — Jared Allen, Minnesota Vikings; Julius Peppers, Chicago Bears; Jason Pierre-Paul, New York Giants

Interior linemen — Gerald McCoy, Tampa Bay Buccaneers; Henry Melton, Chicago Bears; Justin Smith, San Francisco 49ers

Outside linebackers — Clay Matthews, Green Bay Packers; Aldon Smith, San Francisco 49ers; DeMarcus Ware, Dallas Cowboys

Inside/middle linebackers — NaVorro Bowman, San Francisco 49ers; Patrick Willis, San Francisco 49ers

Cornerbacks — Tim Jennings, Chicago Bears; Patrick Peterson, Arizona Cardinals; Charles Tillman, Chicago Bears

Strong safeties — Donte Whitner, San Francisco 49ers

Free safeties — Dashon Goldson, San Francisco 49ers; Earl Thomas, Seattle Seahawks

NFC Specialists

Placekicker — Blair Walsh, Minnesota Vikings

Punter — Thomas Morstead, New Orleans Saints

Kick returner — Leon Washington, Seattle Seahawks

Special team — Lorenzo Alexander, Washington Redskins

Jimmy Graham leads the NFL in drops with 11.

Graham entered Sunday's games tied with Wes Welker with 10.

Darren Spoles is tied for third with nine.

The New Orleans Saints and Sean Payton are not yet close to reaching agreement on a new contract.

If Payton is unable to agree to terms with the Saints fairly quickly, he is expected to entertain offers from other teams.

"People thought this is between the Saints and Dallas. If this thing doesn't get done ... (Payton) is going to open it up everywhere. He's really not going to limit his options."

Drew Brees leads the NFL in passing touchdowns with 32 and is tied with Andrew Luck for the lead in interceptions with 18.

Since 1970, only Lynn Dickey (1983) and Brian Sipe (1979) have led in both categories.

Paul Tagliabue overturned the suspensions of four current and former players of the New Orleans Saints.

Tagliabue found that three of the players engaged in conduct detrimental to the league, but stressed that the Saints' coaches were very much involved.

"Unlike Saints' broad organizational misconduct, player appeals involve sharply focused issues of alleged individual player misconduct in several different aspects," said a portion of ruling released by the NFL. "My affirmation of Commissioner Goodell's findings could certainly justify the issuance of fines. However, this entire case has been contaminated by the coaches and others in the Saints' organization."

Scott Fujita was the only player cleared of conduct detrimental to the league by Tagliabue.

The NFL said Tuesday afternoon that it respected Tagliabue's decision. 

"We respect Mr. Tagliabue's decision, which underscores the due process afforded players in NFL disciplinary matters. This matter has now been reviewed by Commissioner Goodell, two CBA grievance arbitrators, the CBA Appeals Panel, and Mr. Tagliabue as Commissioner Goodell's designated appeals officer. 

"The decisions have made clear that the Saints operated a bounty program in violation of league rules for three years, that the program endangered player safety, and that the commissioner has the authority under the CBA to impose discipline for those actions as conduct detrimental to the league."

New Orleans Saints' owner Tom Benson would sue the NFL if Sean Payton is allowed to leave the franchise to become head coach of the Dallas Cowboys or another team, according to a source.

Payton is currently under a season-long suspension and his contract status for 2013 is unclear.