The defensive back is returning to his hometown of New Orleans.
The New Orleans Saints have agreed to a contract with the All-Pro safety who grew up in New Orleans and starred at LSU, according to a source. The agreement was not immediately available.
After he was not re-signed by the Kansas City Chiefs as a free agent, Mathieu visited with the Saints at their team facility in April. He met with the Philadelphia Eagles. The need for impact safety increased in New Orleans when it did not draft one over the weekend.
The market for other big names that remain unsigned could be boosted by the fact that free agents who sign after Monday afternoon will no longer factor into the formula.
The Baltimore Ravens signed Marcus Williams and the New Orleans Saints lost Malcolm Jenkins. Marcus Maye, a former New York Jets safety, was signed earlier in the day.
Dennis Allen is a new head coach and he wants to make his defense more interchangeable. In New Orleans, C.J.Gardner-Johnson is known for his ability to cover slot receivers.
If they didn't fill their needs in the draft, the Saints could revisit talks with both players, but they didn't sign either of them.
The Saints addressed the receiver position in a big way by trading up for Ohio State's Chris Olave in the first round of the draft. When asked if there were any musts left on the roster, general manager Mickey Loomis said yes. One of them, for sure. You can guess that. You probably know it.
The nine-year veteran was selected to the Pro Bowl for the second year in a row, as he was tied for fifth in the league with 13 picks over the past three seasons with the Chiefs.
The Chiefs moved on from Mathieu when they signed the free agent to a three-year, $32 million contract.
The three-time Pro Bowl selection and two-time first-team All-Pro has been selected to the Pro Bowl in each of the last nine seasons.
Adam Teicher contributed to the report.