SI.com's Peter King broke the news Monday that the Patriots have agreed to a three-year contract extension that will keep Tom Brady under contract through the 2017 season, when he'll be 40. NFL.com's Albert Breer reports the deal is signed.
Brady through the yearsTake a look at the best photos of Tom Brady's playing career.
What's noteworthy about Brady's new contract is that he stands to collect just $27 million over the three years, which essentially is half of his market value. It's the second time in Brady's career that he has left a stack of money on the bargaining table in order to give the Patriots a competitive advantage.
Consider it just another perk of enjoying a supermodel for a spouse.
We shouldn't bend over backwards to turn Brady into a good Samaritan, however. The extension -- which is guaranteed, a source told NFL.com's Ian Rapoport -- gives Brady the security of at least $41 million that won't be ripped up by the Patriots at a later date.
Here are Brady's numbers against the salary cap:
2013: $13.8 million
2014: $14.8 million
2015: $13 million
2016: $14 million
2017: $15 million
Breer points out, the Patriots build their organization with two-year windows in mind. A Patriots source told Breer that the Brady extension creates "well over" $30 million in salary-cap space over the next two years and $20 million for 2013 alone.
The logical implication is that the 2013 cap savings will be used toward a new contract for free agent -- and Brady friend -- Wes Welker. Or the Patriots could let Welker walk and devote some of those funds toward a player such as wide receiver Mike Wallace. Monday's news means the Patriots will be players in free agency.Follow Chris Wesseling on Twitter @ChrisWesseling.