New England Patriots’ quarterback, Tom Brady has restructured his contract in order to give the team an extra $24 million to spend this offseason, according to ESPN’s Adam Schefter.
The big change in the contract is that Brady switched the $24 million guaranteed “skill” money into an “injury” guarantee that would only come into play if he gets injured before 2017. Brady will still make the $24 million if he stays with the team through the 2017 season, but what it means is that instead of the Patriots having to save the money as a guarantee now, they can use that money to sign free agents at the end of the year.
There is a risk involved in the change. Brady could now be released by the Patriots without any liability. In return for his risk, Brady’s salary will increase $1 million each of his last three years of the contract to $8 million, $9 million and $10 million.
Even with the raise in salary, the Patriots have a very good deal with the three-time Super Bowl champ. He will make $27 million in the next three years combined, while someone like Jay Cutler made $22.5 million in 2014 alone.
Maybe moves like this one are what make Tom Brady and the Patriots so successful. This year they are the top seed in the AFC and are looking to make another Super Bowl run.
Source: ESPN / Photo Credit: Flickr