Tom Brady frees up $24M for Pats

[SDGuy73]

In a deal turned into the NFL office Monday, quarterback Tom Brady restructured his contract to give the New England Patriots $24 million more in cash to spend this offseason, according to league sources.

Under the new deal, Brady changed the $24 million in "skill" guarantee to only "injury" guarantee, meaning that Brady now would get the guaranteed money only if he were injured.

Brady also now can be released by the Patriots without any liability, but he then would become an unrestricted free agent, free to command the type of guaranteed money he has agreed to surrender.

The move frees up cash for the Patriots to use on other players. New England needs the cash to help re-sign some of its own free agents, including cornerback Darrelle Revis, safety Devin McCourty, tackle Nate Solder and running back Shane Vereen, among others.

 

[SDGuy73]

This man is unbelievable. In an era where athletes are so greedy....this is crazy. Lets hope BB doesn't screw this up.

 

[SDGuy73]

Explaining what Tom Brady contract restructuring means to Patriots - ESPN Boston

 

[{+}Mother-Marge{+}]

.....I hope the kraft's gave him 10% of the team for his "genero$ity",.......?!

 

[HammerDown]

So are you saying he's not taking this $24,000,0000? I'm trying to understand how he's being so generous? He's decided to let the Pats off the hook because he realizes he's not worth it? Help me understand!

 

[cdumler7]

So are you saying he's not taking this $24,000,0000? I'm trying to understand how he's being so generous? He's decided to let the Pats off the hook because he realizes he's not worth it? Help me understand!

Essentially what this deal means is the Patriots will have $24 million in cash instead of having to give that straight up this season to Brady. It doesn't actually change their Cap Space as some might assume but just more Cash ready for signing bonuses making it a bit easier to sign players. Brady is taking a bit of a chance with this as it makes it a bit easier to cut him now compared to before but they also added $1 million to each of the next 3 seasons of his base salary meaning he is actually making a bit more than before. It is still a very team friendly deal. Again this is not giving them $24 million more in Cap Space. This is just giving them cash in hand to help maybe give some bigger signing bonuses which is what most of these players will be wanting as that is actual guaranteed money compared to just the large number that gets thrown out that no player actually sees.

 

[Dolemite censored]

OK, he helps the cash available to the Patriots to get better players around him.
This tells me he wants to continue to win.

But its not charity.
His base pay rises $1 million more per year, and he can become an unrestricted free agent if he is cut or waived.

If he gets injured, the guaranteed money is paid.

 

[BigKen]

Brady needs money like I need a second rectum. He owns 1/3 of UGGS Footwear. His wife earned nearly a billion dollars in the U.S. alone and her Brazilian cosmetic companies must have earned at least double that. Her worldwide earnings are only assumed, no one knows for sure. And when she gets bored she commands $50,000 an hour modeling anything. Need to buy Tommy a new Bentley for his birthday? I'll model some bras for Victoria's Secret.


While it appears that Brady is benevolent, he's not stupid and I'm sure that somehow he'll get that money back from the Patriots. As wealthy as he is, he can't just give that money back. There are tax implications and rules all over the place.

 

[SDGuy73]

So are you saying he's not taking this $24,000,0000? I'm trying to understand how he's being so generous? He's decided to let the Pats off the hook because he realizes he's not worth it? Help me understand!

It's impossible to help you understand. No one has that kind of time and magic doesn't exist.

 

[cdumler7]

Brady needs money like I need a second rectum. He owns 1/3 of UGGS Footwear. His wife earned nearly a billion dollars in the U.S. alone and her Brazilian cosmetic companies must have earned at least double that. Her worldwide earnings are only assumed, no one knows for sure. And when she gets bored she commands $50,000 an hour modeling anything. Need to buy Tommy a new Bentley for his birthday? I'll model some bras for Victoria's Secret.


While it appears that Brady is benevolent, he's not stupid and I'm sure that somehow he'll get that money back from the Patriots. As wealthy as he is, he can't just give that money back. There are tax implications and rules all over the place.

Not sure what you are saying in your 2nd paragraph here. This is not money that he already had and is now giving back. With the way his contract was worded before the Patriots would have had to put $24 million that was guaranteed aside and not be able to spend it now. It was money essentially Tom Brady was guaranteed no matter what. Now because it is only guaranteed if he gets hurt they do not have to set that money aside and are free to do with it what they want. It doesn't give them any more cap space (in fact gives them a little less with his $1 million raise per year) but that cash on hand is good for Signing bonus' that players really like to get.

 

[{+}Mother-Marge{+}]

Not sure what you are saying in your 2nd paragraph here. This is not money that he already had and is now giving back. With the way his contract was worded before the Patriots would have had to put $24 million that was guaranteed aside and not be able to spend it now. It was money essentially Tom Brady was guaranteed no matter what. Now because it is only guaranteed if he gets hurt they do not have to set that money aside and are free to do with it what they want. It doesn't give them any more cap space (in fact gives them a little less with his $1 million raise per year) but that cash on hand is good for Signing bonus' that players really like to get.

......no matter what = he's still vastly underpaid...!!

 

[cdumler7]

......no matter what = he's still vastly underpaid...!!

Have to agree with that. What Brady is doing contract wise is not seen very often.

 

[jdwills126]

So are you saying he's not taking this $24,000,0000? I'm trying to understand how he's being so generous? He's decided to let the Pats off the hook because he realizes he's not worth it? Help me understand!

This is another intangible that can not be measured when talking about the greatest QB of this generation!

 

[SDGuy73]

......no matter what = he's still vastly underpaid...!!

Don't tell Hammer that.

 

[HammerDown]

It's impossible to help you understand. No one has that kind of time and magic doesn't exist.

Big Ken is reasonable.

You? Not at all.

 

[HammerDown]

......no matter what = he's still vastly underpaid...!!

Tom Brady will take $24,000,000 from the Pats over the next 3 yrs.

SDGuy73 calls him "generous."

Can't make this stuff up I tell ya.

 

[NWPATSFAN]

So are you saying he's not taking this $24,000,0000? I'm trying to understand how he's being so generous? He's decided to let the Pats off the hook because he realizes he's not worth it? Help me understand!

Potentially frees him up so he can sign with Tennessee on the cheap. He`s not worth much. Maybe you can get him for a 3rd string QB price?

 

[Sgthall999]

This is another intangible that can not be measured when talking about the greatest QB of this generation!

Good luck trying to reason with a person who tries to downplay anything Patriots.

 

[Sgthall999]

Potentially frees him up so he can sign with Tennessee on the cheap. He`s not worth much. Maybe you can get him for a 3rd string QB price?

Shhh. Don't talk about his team! He'll put you on ignore

 

[{+}Mother-Marge{+}]

Good luck trying to reason with a person who tries to downplay anything Patriots.

...I sent hammered a pats ~snuggie~ for Xmas = from all of US....!