Jeff Howe of the Boston Herald reports that Tom Brady and the Patriots have expressed mutual interest in a new contract and the two parties are currently in the early stages of talks.
Howe says that nothing is considered to be imminent at this point in time.
A few days ago, Ben Volin of the Boston Globe mentioned that there was buzz that the Patriots want to rip up Brady’s contract and sign him to a brand new three-year contract, so this doesn’t come as a big surprise.
Last year, New England redid Brady’s contract and gave him a $28 million signing bonus as part of a four-year contract in return for lowering his 2016 and 2017 base salaries down to just $1 million. As things stand right now, Brady will make just $1 million for the 2017 season and then $14 million in 2018 and 2019 to go along with $1 million in annual per-game roster bonuses.
Volin mentions that no matter how the Patriots restructure his next contract, there isn’t much they can do about his 2017 cap figure of $14 million. The Patriots will also need to account for the $13 million in signing bonus prorations from his prior contracts.
However, Volin says he’ll almost certainly make more than his $1 million base salary next year.
Last week, Ian Rapoport of NFL Media reported that the Patriots believe Brady will play another three-five years, which is why trading backup QB Jimmy Garoppolo is a possibility this offseason.
According to Rapoport, the Patriots will likely look to sign Brady to an extension next offseason, which shows they too believe he can play into his 40s.
Brady, himself, has said (per Ryan Hannable) a few months ago that he would like to play another five or six years, so this shouldn’t come as much of a surprise.
Brady, 39, is a former sixth-round pick of the Patriots back in 2000. He signed a two-year, $41 million contract extension with the Patriots last March, which included a $28 million signing bonus. Brady stands to make a base salary of just $1 million for the 2017 season and $15 million in both 2018 and 2019.
In 2016, Brady appeared in 12 games and threw for 3,554 yards while completing 67.4 percent of his passes to go along with 28 touchdowns and just two interceptions. Pro Football Focus has him rated as the No. 1 quarterback out of 34 qualifying players.
We’ll have more regarding a new contract for Brady as the news is available.
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