Report: Tom Brady restructures contract

AP

The Patriots have reportedly created some additional financial flexibility.

According to ESPN’s Adam Schefter, Patriots quarterback Tom Brady has reworked his contract. According to Schefter, Brady’s contract is now guaranteed only for injury.

The maneuver will free up $24 million for the Patriots to spend this offseason, ESPN reported.

Per Rotoworld.com salary data, Brady is slated to make $7 million in salary in 2015, $8 million in salary in 2016 and $9 million in salary in 2017. His cap numbers for 2015-2017 were slated to be $13 million, $14 million and $15 million, respectively.

Cornerback Darrelle Revis is among the Patriots’ potential free agents.

36 responses to “Report: Tom Brady restructures contract

  1. This move frees up CASH (teams have to set aside cash reserves for fully guaranteed salaries/bonuses). It has NO effect on cap space. He will still count $13M against the cap in 2015. The only way this restructure would free up cap space is if he was CUT.

    By being only guaranteed for injury only, the Pats could cut Brady and not have a $24M cap hit. Because it was previously guaranteed for skill, if the Pats cut him, they would have a cap hit of $24M.

  2. Yeah, because if the Pats decide to release Brady, his wife won’t have any problem supporting them. Not a lot of NFL players can fall back on that.

  3. I feel most readers here are a little more sophisticated than the norm in regards to salary cap maneuvers, so that being said, I am seeing a lot of comments in the Boston media that just don’t understand he didn’t “give back” $24mm… its just not guaranteed over the next 3 years as it was before the restructure.

  4. Guaranteed money is “injury” money. You would NEVER see that today in any of the 4 pro sports, let alone from one of the greatest to ever play. Hopefully this will inspire a guy like Revis to come back at a lesser price than he normally seeks out.

    TB12 laying it all on the line for this team over, and over, and over, and over, and over, and over, and over, and over…

  5. Brady has a multi millionaire super model wife. Revis does not. Brady is in a unique position of being able to play for the veteran minimum if he wanted to. He’s the only player in the league with that kind of flexibility. So to suggest that this might inspire Revis to take less money is simply ridiculous.

  6. Cough “it’s in the brown envelope” Cough

    Shocking the patriots are still cheating.

  7. Remember people, he’s not taking less money. He’s just moving the money around to help the team. He is still scheduled to make every dime of the original contract. And I don’t blame him one bit.

  8. Sure he got a ton of upfront money in signing this contract, but if he plays it out completely and without a huge talent dropoff, it will be one of the greater contract bargains of all time.

    Knowing his work ethic, it was wise to make that upfront payout.

  9. Peyton Manning, Aaron Rodgers, Drew Brees, Russell Wilson, Eli Manning, Big Ben, Andrew Luck, Colin K, etc. would NEVER! This is why Tom Brady is in a class of his own. It’s not just the rings and wins, it’s the way he remains loyal to the team that drafted him and gave him a chance when everyone else denied him. I have a feeling Brady’s gonna retire a Patriot.

  10. He has the enviable position of having a wife who has had a billion dollar career. He could play for free and probably not notice the difference.

  11. Get out of here. Dude redoes his deal every year. He is already taking a lower deal to help the team. No way money isn’t changing hands under the table. Not buying a dude giving away/risking loss of millions to help the team as he is skyrocketing toward the end of his career.

  12. I can’t wait for the Sony hackers to distribute the emails between Kraft and Brady’s agent where Brady agrees to these yearly givebacks in exchange for ownership interest.

  13. The amount Brady gets and the cap hit don’t change one iota. Unless they cut him, which they’re not gonna do. Even if they did, he’d make more than 24 mil guaranteed. Andy bleepin’ Dalton got more than that. The only thing that changes is they don’t have to put the 24 mil guaranteed for skill in escrow against their cash spending. The Pats have it freed up to spend on players.

  14. patsfan112 says:
    Dec 29, 2014 6:02 PM

    Peyton Manning, Aaron Rodgers, Drew Brees, Russell Wilson, Eli Manning, Big Ben, Andrew Luck, Colin K, etc. would NEVER! This is why Tom Brady is in a class of his own. It’s not just the rings and wins, it’s the way he remains loyal to the team that drafted him and gave him a chance when everyone else denied him. I have a feeling Brady’s gonna retire a Patriot.
    —————————————————-

    I would have liked to have been a fly on the wall when you had that conversation with these guys when they told you that they would NEVER, do this kind of deal. I like Tom Brady, I think he belongs up there with the Greatest of all time. (Montana, etc.) But I don’t have to denigrate so many other QBs to show my admiration.

  15. Enjoy Tom Brady while you can Pats fans, cause once he’s gone and BB follows, best of luck to you in finding a QB who will do that for you in the future.

  16. If I was to make that kind of money and wanted to help the team I’d have the money spread out for a longer period. I’ll bet he ends up on the Patriots payroll for life. Nice retirement plan if you ask me. And . . . imagine the taxes! I’d also want to negotiate a way to reduce that 5million dollar a year freebie. He’s no dummy and noone hands 4million back without getting something in return.

  17. I am pretty sure Tom Brady would be ok if he didn’t have a wife.. He isn’t exactly broke himself.

  18. Where would I be without the business insider knowledge of PFT commenters? Yes, of course a restructured deal means Bob Kraft is moving millions of dollars in a giant Shaws bag inconspicuously left in Brady’s back seat. It just makes sense.

  19. Nice move by Brady, but let’s face it, he has millions and his wife is almost a billionaire if she isn’t already. Also…John Unitas is the greatest ever, then Montana…Brady is not in their class. remember, Matt Cassel led the Pats to an 11-5 record. He is a system QB.

  20. Patskrieg dot com says:
    Dec 29, 2014 8:01 PM
    Where would I be without the business insider knowledge of PFT commenters? Yes, of course a restructured deal means Bob Kraft is moving millions of dollars in a giant Shaws bag inconspicuously left in Brady’s back seat. It just makes sense.

    ———————————————————————-

    WORD!

  21. Megahead is due somewhere around $19 mil next season, and he’s never left a dime on the table.

  22. patsfan112 says:
    Dec 29, 2014 6:02 PM

    Peyton Manning, Aaron Rodgers, Drew Brees, Russell Wilson, Eli Manning, Big Ben, Andrew Luck, Colin K, etc. would NEVER! This is why Tom Brady is in a class of his own. It’s not just the rings and wins, it’s the way he remains loyal to the team that drafted him and gave him a chance when everyone else denied him. I have a feeling Brady’s gonna retire a Patriot.

    —————————————————-

    slow down. Ben Roethlisberger restructures to free up space EVERY year.

  23. tccoats you described the facts well. And all the over the top praise for Brady is a bit much. Tom has never restructured a contract and taken 1 dollar less than he was due to make. They only moved the money around, he still got every penny. The one thing that can be said is that he did take a little less than he could of gotten on the open market. Which has helped the team.

    What if they decided to part ways after the 2014 season, Tom would be able to chose where he’d finish his career and the Pats would have 24 million to spend on younger players to build for the future. This is assuming that they feel that Jimmy G. is ready to take over next year at QB.

  24. Lets keep it simple. TB restructured his contract so it frees up money under the current NFL salary cap rules. It helps the Pats with less guaranteed salary, the move is 100% legal and again the Pats make a smart cap move that some other teams simply aren’t business savvy enough to do. Moves like this are why TB is a legend with Pats fans. I really hope Mr. Revis learns from it as well!

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