Tom Brady Plays Good Samaritan; Restructures Contract To Provide Patriots With Needed Cash
Dino Lirios | | Dec 30, 2014 03:19 AM EST |
(Photo : Reuters / David Butler II-USA TODAY Sports) The National Football League's investigation yielded that the balls were under-inflated by 2 pounds per square inch of air below the regulation in the Patriot's 45-7 blowout victory over the Colts.
Tom Brady seems to be the gift that keeps on giving for the New England Patriots as he restructured his contract that freed up US $24 million more in cash for the team spend in the offseason.
According to sources knowledgeable on the situation, a deal was turned into the National Football League (NFL) office on Monday that saw Brady change his contract for the benefit of his team.
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The new deal has Brady changing the US $24 million in "skill" guarantee to only "injury" guarantee. This means that Brady would only get guaranteed money only if he were injured.
Brady can now also be released by the Patriots without any liability, opening the door for him becoming a free agent. He becomes free to command the type of guaranteed money he has agreed to surrender.
It isn't all "negative" on Brady's end though, as he receives a US $1 million bump in each of the three remaining years of the deal. His base salaries are now projected to be US $8 million in 2016, $9 million in 2016, and $10 million in 2018.
The move frees up cash that allow the Patriots to spend it on other players. The Patriots will need the money to re-sign some of its own free agents including cornerback Darrelle Revis, safety Devin McCourty, tackle Nate Solder, and running back Shane Vereen among others.
This was not the first time that Brady played Good Samaritan. He did something similar in 2012.
Back then, he also restructured his contract that created $7.2 million in salary cap space. In February 2013, he re-signed a team-friendly three-year extension.
A source close to the Patriots informed NFL Media's Albert Breer at the time that the extension created over $30 million in salary-cap space over 2013 and 2014.
Now 12-4, the Patriots are coming off their sixth-consecutive AFC East title and will have a bye on the first weekend of the playoffs.
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