Patriots Officially Sign QB Tom Brady To Two-Year Extension

Update:

Field Yates reports that the Patriots have officially signed QB Tom Brady to a two-year extension.

• Yates mentions that Brady receives a $28 million signing bonus and $41 million in new money as part of this agreement.
• Ian Rapoport reports that Brady’s base salary in 2016 will be $1 million.
• According to Yates, Brady’s cap figures will be: $14M (2016), $14M (2017), $22M (2018), and $22M (2019).

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Adam Schefter and Dianna Marie Russini are reporting that the Patriots and QB Tom Brady have reached agreement on two-year contract extension.

This extension keep Brady under team contract through the 2019 season.

Many have pointed to the low salaries included in Brady’s contract to highlight how team-friendly the agreement was for the Patriots, but he did receive a $30 million signing bonus upon agreeing to the contract back in 2013, so it’s not quite the bargain it appeared.

Either way, Brady’s play continue to be among the best in the league, and he’s clearly worth much more than he was scheduled to make over the next two years.

Brady, 38, had two years remaining on his five-year, $60 million contract that’s fully guaranteed. He was set to make base salaries of $8 million and $9 million over the remainder of the contract.

In 2015, Brady appeared in all 16 games for the Patriots and threw for 4,770 yards while completing 64.4 percent of his passes to go along with 36 touchdowns and seven interceptions.

We’ll have the contract details posted as they’re available.