Breaking down the Brady contract
Tom Brady has agreed to a three-year, $27 million contract extension with the Patriots, a deal which will keep him with New England through the 2017 season.
A breakdown of Brady’s pact reveals that the total signing bonus for the five-year, $57 million contract is $30 million, which includes $3 million in new money and $27 million that was due to Brady from his previous deal that is converted into a signing bonus for salary cap accounting.
The new agreement replaces the four-year, $72 million extension that took effect in 2011, one year after Brady signed it. With the new deal, Brady will be making a guaranteed $57 million over five years instead of the guaranteed $30 million over two years to which he previously agreed. Therefore, Brady is nearly doubling the money in his pocket while receiving it in a way that gives the Patriots much more cap space.
Brady’s base salary for the 2013 season is $1 million, followed by a $2 million base salary in 2014. The $30 million signing bonus and salaries for the next two seasons are fully guaranteed.
The extension includes a $3 million signing bonus along with annual salaries of $7 million in 2015, $8 million in 2016 and $9 million in 2017.
The contract is still subject to approval by the NFL and NFL Players Association.
Under his previous deal, Brady was due salaries of $9.75 million, with $5 million roster bonuses and $250,000 workout bonuses for 2013 and 2014. Before striking the new deal, Brady was guaranteed $25 million for injury. Now it stands that the entire $57 million will be guaranteed.
After reaching the agreement with the Patriots, Brady posted a Facebook status that read, “Just win.” He remains mum about the deal, and in an email to John Dennis of WEEI, he explained why he does not want to talk publicly about money.
“Athletes are always talking about money at a time when everyone else is struggling so badly to make it,” Brady wrote. “We all make way more than our fair share. And I just think it reflects poorly on myself and my teammates. I really do just want to win, and that has and will continue to be the reason that motivates me and is the biggest factor in my decision-making process.”
Brady has been the most successful quarterback of his era as well as one of the NFL’s best leaders. Brady holds the NFL record for touchdown passes in a season with 50 in 2007. He has thrown for at least 28 touchdowns seven times and led the league three times.
Last season, Brady had 34 touchdown passes and eight interceptions as the Patriots went 12-4, leading the league with 557 points.