Bob Leverone/Associated Press

New Orleans Saints head coach Sean Payton was a popular option for NFL teams looking for a new coach this offseason, despite having two years remaining on his contract with the Saints, which is worth $8.5 million per season after the 2015 campaign.

However, Ian Rapoport of NFL Network reported Payton and general manager Mickey Loomis agreed Payton will stay on as Saints head coach.

Rapoport reported on Jan. 3 that Payton "hasn't ruled out leaving New Orleans, with the hope that it's a clean and respectful break." He also noted the Saints "have said privately they'd like to receive compensation."

Payton is 87-57 overall with the Saints in the regular season, has a 6-4 record in the postseason and led New Orleans to a Super Bowl title in the 2009 season. The Saints went 7-9 in both the 2014 and 2015 seasons.

In September, Danny Shimon of the National Football Post speculated that the Saints could begin a rebuilding process if they missed out on the playoffs this year.

Even if the Saints do decide to let go of some veteran players, Payton will be there to steer the team for the foreseeable future.