Field Yates of ESPN was able to build on Peter King’s report from yesterday and dig up the details on Bradys new extension.
The deal includes a $30 million signing bonus for the quarterback, which will be paid out over a period that extends to March 15, 2015, according to a league source.
Yates has alot more information in his article about the timing of the cash flows of the deal as well as the verification of the cap hits reported yesterday by Peter so its well worth clicking on the link and reading the full article.
Based on Yates’ numbers Brady will earn a guaranteed $11 million in cash payments this season, $17 million in 2014, and another $5 million before the 2015 League Year begins, bringing his cash total to $33 million for two seasons. Under his old contract the actual cash flows were set to be $10 million in 2013, $15 million in 2014, and $5 million prior to the start of the 2015 League Year.
Its really a spectacular deal for New England. Brady will only receive an extra $1 million in cash in 2013 and $2 million in 2014 over his prior deal. And for that $3 million he completely gave up any type of back end money he could have made down the line. Brady will be 38 years old when his non-guranteed extension years kick in at a salary of just $7 million. As a point of reference Peyton Manning at the same age in 2014 will earn $20 million, which should be fully guaranteed provided his neck checks out ok. Brett Favre was earning over $10 million a season at the age of 40 and that was before the QB salaries really escalated these past few years.
Maybe there is more to the deal than meets the eye on the backend of the contract, but Brady really saved the Patriots from dealing with some difficult salary cap decisions in 2013 and 2014. The Patriots will save $15 million in cap dollars over the next two years due to the restructure.
Jason is the founder of OTC and has been studying NFL contracts and the salary cap for over 15 years. Jason has co-authored two books about the NFL, Crunching Numbers and the Drafting Stage, which are widely circulated in the industry and hosts the OTC Podcast. Jason’s work has been featured in various publications including the Sporting News, Sports Illustrated, NFL Network and more. OTC is widely considered the leading authority on contract matters in the NFL.