New England Patriots fans are feeling the heat of the upcoming due date for franchise tag and the start of free agency – so far looks good, though. Tom Brady has agreed with a three-year contract extension with the New England Patriots through the 2017 season as he will more likely retire as a Patriot.
According to Peter King of Sports Illustrated Brady signed a three-year contract extension worth $27 million, which means that Brady will be playing under the market value over the next five years. For the Patriots, it allows a breath of fresh air in terms of cap in a flat-cap era.
Tom Brady’s love for the game amazes me as this new deal makes for the second time in his career that he is actually taking a “pay cut”(much less money than the market value) so the Patriots stay competitive in the league. In 2005, he agreed to a six-year, $60 million deal way below the market value as Peyton Manning averaged $14.2 million per year. He wants another championship, like “yesterday” and he proves that.
The deal saves the Patriots $15 million in cap dollars for the next two seasons as Brady was due to count $43.6 million of the salary cap in 2013 and 2014. In light of the new deal, Brady’s cap will amount to $28.6 million in the next two years.
According to the report, the extension will pay Brady a $3 million signing bonus immediately, in addition to salaries of $7 million in 2015, $8 million in 2016 and $9 million in 2017.
Here are the cap numbers King reported according to a source with knowledge of the contract:
2013: $13.8 million
2014: $14.8 million
2015: $13 million
2016: $14 million
2017: $15 million
It also came to our attention today that the Patriots and Wes Welker might be planning a long-term extension deal. Sources were first reported by NFL.com Ian Rapoport.
It’s an interesting set of events. Yes, Tom Brady took a pay cut before, but would he take another pay cut if Wes Welker wasn’t in the picture? On the other hand, it could mean that Welker gets his deal.
I think a Welker deal is highly on the way along with a two-year deal for Aqib Talib and Sebastian Vollmer. I hope there’s some room left for Danny Woodhead because I certainly want him back and he has proven to be a resilient and reliable running back for this team.
Follow Celia Westbrook on Twitter @celiawestbrook