The New Orleans Saints announced Wednesday that the club and head coach Sean Payton officially agreed to a five-year contract extension which will run through the 2017 season.

"I am excited that we have finalized this contract with Sean," Saints owner Tom Benson said. "He has been a great leader for our organization. He and Mickey (Loomis) have built a foundation of success as they have built the roster. We have already begun preparations for the 2013 season and I look forward to getting Sean back in the building as soon as possible, as I know our fans do as well."

Payton, who served a one-year suspension for the 2012 season due to his involvement with the Saints' bounty scandal, signed an extension last year which would have kept him under team control through 2015, but the league rejected the agreement due to unspecified language in the contract.

In six seasons at the helm of the Saints, Payton has guided New Orleans to a 62-34 record and four playoff appearances, including the franchise's only championship when it defeated the Indianapolis Colts in Super Bowl XLIV.

With Payton exiled from the team, the Saints finished the season with a disappointing 7-9 record under interim coaches Joe Vitt and Aaron Kromer.

The Saints have set 23 team single-season records under the direction of Payton, including six which have been new NFL marks.

"Sean has been a critical part of our success, getting him signed to a long- term deal is very important to our organization and we are pleased to have it finalized," Loomis added.