Brady Restructures Contract; Signs 3 year Extension

Tom Brady #12 of the New England Patriots celebrates a touchdown in the second quarter against the Miami Dolphins during the game at Gillette Stadium on December 30, 2012 in Foxboro, Massachusetts.

As first reported by Sports Illustrated football writer Peter King, New England Patriots quarterback Tom Brady and the team have restructured his existing contract and got a year extension in the deal.

The three year extension is said to worth $27 million but it gives the team an additional $15 million against the flat cap over the 2013 and 2014 seasons.  The new deal will keep Brady in Foxboro through the 2017 season when he turns 40.

The new pact calls for salaries of $7 million in 2015, $8 million in 2016 and $9 million in 2017 and a $3 million signing bonus.

While other quarterbacks have signed larger deal that end up hampering their teams at times against the cap Brady has always been willing to restructure so the team will remain competitive in his time there. 

Among the teams free agents that may benefit include WR Wes Welker, CB Aqib Talib, WR Julian Edelman, RB Danny Woodhead and T Sebastian Vollmer.

Brady who is a three time Super Bowl Champion, two time Super Bowl MVP and two time league MVP now will have a cap number of $13.8 million in 2013; $14.8 million in 2014; $13 million in 2015; $14 million in 2016 and $15 million in 2017.

In the long run it’s a great deal for both Brady and the Patriots and the future.

Follow Steve on Twitter @SteveMichaelsII

photo credit: getty images

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