Tim MacMahon:Drew Brees’ deal is good news for Tony Romo.

Tim MacMahon via ESPNDallas.com

Tony Romo might have felt like joining the celebration on Bourbon Street after news broke about Saints’ quarterback Drew Brees’ new deal.

Brees’ five-year, $100 million contract includes an NFL-record $60 million in guaranteed money, as reported by ESPN’s Chris Mortensen. He’ll get $40 million in the first season of the deal.

The ripple effect will be felt for years in the contract negotiations for other franchise quarterbacks. And it’s a matter of time before Romo and the Cowboys start crunching numbers on a contract extension, something that might make sense for the Cowboys to handle sooner than later, as ESPNDallas.com’s Todd Archer explained in a recent column.

Nobody is suggesting that Romo should be paid in the same range as Brees, who is without question among the most elite active quarterbacks. But Romo’s current six-year, $67.4 million deal, which is set to expire after the 2013 season, looks like a bargain at this point.

Romo’s eventual raise will probably be more than a bit bigger because of market impact of Brees’ big deal.