Tom Brady has given the New England Patriots some extra spending money for the offseason.
Brady restructured his contract, giving the Patriots an extra $24 million in cash, sources told ESPN’s Adam Schefter. Brady converted the $24 million guaranteed in his contract from skill to injury, meaning he’s only ensured that money if he suffers an injury. The Patriots can freely cut Brady without penalty, and he would become an unrestricted free agent.
The Patriots would have had to put that $24 million aside if his contract was guaranteed for skill, according to PatsCap.com. Brady’s cap figure doesn’t change.
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As Schefter mentions in his Facebook post, All-Pro safety Devin McCourty and All-Pro cornerback Darrelle Revis are free agents after the season, and the Patriots could use the extra cash to lock up those players, along with offensive tackle Nate Solder and running back Shane Vereen, to long term deals.
The restructured contract doesn’t free up any cap space for the Patriots. It could make it easier for the Patriots to cut a bonus check this offseason, however, which still would need to be spread out over the salary cap.
The Patriots added an additional $1 million to the base salaries in Brady’s contract, a source told ESPN’s Mike Reiss.
Thumbnail photo via Mark L. Baer/USA TODAY Sports Images
