On March 10, 2016 ESPN’s Field Yates tweeted that the “Tom Brady’s 2-year extension with the Patriots has officially been signed. It includes a $28M signing bonus and $41M in new money” and that Tom Brady’s new cap hits by season:
Tom Brady’s 2016 cap number of $15,000,000 consisted of
* $9 million salary
* $6 million proration of his 2013 signing bonus
His 2017 cap number of $16,000,000 consisted of
* $10 million salary
* $6 million proration of his 2013 signing bonus
Some frequently asked questions about the salary cap implications of Brady’s extension
Added at 9:30 AM March 10, 2016
Q: Why is it that the cap hits add up to 72 million when Brady is only scheduled to receive 60 million in cash?
A: There are $6 million signing bonus prorations in 2016 and in 2017 from his 2013 signing bonus.
Added at 9:50 AM March 10, 2016
Q: How much of Brady’s deal is guaranteed.
A: 28 million – His signing bonus. His 2016 and 2017 salaries are guaranteed for injury only. His 2017 salary becomes fully guaranteed the 3rd day of the 2017 League Year.
Q: What does the $41 million in new money mean?
A: Brady was due to receive $19 million in cash over two years. He will now receive $60 million.
Q: Exactly how much cap space did the extension create?
A: 1 million in 2016 and 2 million in 2017. 3 million total.
Q: What would be the dead money hits if Brady was cut or traded in 2017?
A: Before June 1 – $27M – a 13M increase from his cap hit of $14M.
A: After June 1 – $13M in 2017 and $14M in 2017 leading to a 1M savings in 2017 if traded (no savings if cut) and 8M savings in 2018.
Q: What would be the dead money hits if Brady was cut or traded in 2018?
A: Before June 1 – $14M – a 8M savings from his cap hit of $22M.
A: After June 1 – $7M in 2018 and $7M in 2019 leading to a 15M savings in both 2018 and in 2019
Q: What would be the dead money hits if Brady was cut or traded in 2019?
A: 7M leading to a 15M savings in both 2018 and in 2019
Q: What is Jimmy Garoppolo’s salary cap status?
A: He is signed through the 2017 season.
His 2016 cap number is $950,154.
He is due $736,718 in cash from the Patriots this season.
His 2017 cap number is $1,108,513.
He is due $820,077 in cash from the Patriots in 2017.
Q: What would be the salary cap consequences of a Garoppolo trade?
A: If he is traded his 2017 dead money would both be $213,436 and the Patriots will create $355,077 in cap space as Deatich Wise’s salary would then replace Jimmy G’s $820,077 salary on the Top 51 list.
Q: How does the Brady extension impact Malcolm Butler?
A: The Patriots are now able to use the franchise tag on Malcolm Butler in 2018. If Brady, Garoppolo and Butler were all UFAs in 2018, it would be very likely that the Patriots would use the franchise tag on one of the two quarterbacks.
Q: Where does Tom Brady’s 2017 current cap number of $14 million rank among quarterbacks?
Q: Where did Tom Brady’s cash intake of $29 million rank among quarterbacks for 2016?
Q: Where does Tom Brady’s average cap hit of 20.5M rank as of July 24th, 2017?
Q: Were you surprised by this extension?
A: Yes, thought that it was going to happen last year when Brady’s salary was $8 million.
Q: How does this extension help Brady if he is suspended?
A: It lowers his possible exposure. Players are paid weekly. If suspended for 4 games at a 9 million salary Brady would have lost $2,117,647 in salary. If suspended for 4 games at a 1 million salary, Brady would lose $235,924. The Patriots will get credit on their cap Week 1.
Added at 7:55 PM February 29, 2016
Q: What is your predictions for the deal parameters?
A: Signing Bonus between 20 and 30 million. 2016 and 2017 salaries fully guaranteed. Cap savings between 500,000 and $3 million. If I had to predict one number, it would be $3 million.
Added at 6:30 AM March 1, 2016
Q: The last time Brady extended his contract the Patriots created $15 million in cap space over two years. Was it possible this time?
A: No. Last time Brady was due $30 million in cash over the two-year period. This time $19m. In order to create the $15 million in cap space savings this time Brady would have to agree to lower his total cash intake for 2016 and 2017 to $4 million.
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Posted Under: Free Agency