Source: Brady, Pats mull new deal
Tom Brady and the Patriots might further enhance their relationship.
The two sides have expressed mutual interest in a new contract for the fivetime Super Bowl champion, according to a source. It’s important to stress the talks have been in the early stages, and a new contract is not imminent.
Brady most recently signed a two-year, $41 million contract extension last March. The deal runs through the 2019 season, so Brady would be 42 upon the completion of those terms. Brady, who turns 40 in August, has said plenty of times that he plans to play until he is about 45.
Due to last year’s $28 million signing bonus, Brady earned $29 million in cash in 2016, and he is on the books to earn just $1 million in 2017, $15 million in 2018 and $15 million in 2019. However, his remaining cap hits are $14 million in 2017, $22 million in 2018 and $22 million in 2019.
Based off the parameters of Brady’s cash intake and the team’s cap hits from last year’s extension, it appeared the two sides would revisit the negotiating table in 2018 in order to reduce the cap hits in 2018 and 2019.
If the Patriots extend Brady’s deal this year, they can’t reduce his 2017 cap hit because he is set to earn the league minimum base salary of $1 million. Teams reduce cap hits primarily by turning base salaries into signing bonuses, but the Patriots can’t do that with Brady because his salary can’t be reduced in 2017.
The thinking, though, is the Patriots may want to give Brady a raise. There’s no denying he has always been willing to take a contract that’s been worth less than his market value, and the Patriots are projected to be $68 million under the salary cap in 2017, which gives them incredible financial flexibility.
Brady is coming off the greatest fourth-quarter performance in Super Bowl history for the second time in the last three years, and he was in the regular-season MVP race yet again. So there’s no reason to think the Patriots would be acting irresponsibly by increasing Brady’s earnings, even with high-quality free agents such as linebacker Dont’a Hightower, cornerback Logan Ryan and tight end Martellus Bennett to consider. The Pats have enough cap space to extend Brady and re-sign their bigname free agents.
Considering the Patriots’ history of fruitful negotiations with Brady, reworking or extending the terms 10 times since 2002, there’s evidence to believe they’ll reach a verdict when the time is right.