Payton was suspended by the NFL as a result of the league's investigation into a "bounty" program that then Saints defensive coordinator Gregg Williams ran from 2009 to '11 in which players were rewarded for hits that knocked opponents out of games.
Sources told ESPN that Payton's suspension will last about 10 months, from April 1 to Feb. 3, 2013. The sources said the coach makes $7 million per year.
"I share and fully support the league's concerns and goals on player safety. It is, and should be paramount," Payton said in the statement. "Respecting our great game and the NFL shield is extremely important to me."