It looks like the Patriots and Tom Brady are heading toward a reworked deal that could get done in the next 24 hours, according to ESPN.
A report from Adam Schefter on Thursday revealed the team and the quarterback are expected to agree on what Schefter is calling “adjustments” to Brady’s contract. Those tweaks would come in the form of a variety of performance-based incentives -- somewhere in the range of an additional $5 million -- to bring him to closer to market value, similar to what New England has done in the past with tight end Rob Gronkowski.
The defending MVP is currently scheduled to make roughly $15 million this season in base salary, a lower rate than many of his less accomplished colleagues. Schefter said those performance-based incentives would be added to his deal “in the next 24 hours.”
BSJ analysis: What does this mean for the Patriots and Brady?
From what we've been able to glean, this is not necessarily an extension — his current deal runs through the 2019 season. But it would certainly sweeten his current contract, and put him in line with the likes of Kirk Cousins ($22.5 million in base salary, per Spotrac), Aaron Rodgers ($19.8 million), Russell Wilson ($15.5 million) and Cam Newton ($14.5 million).
When it comes to cap considerations, this is worth keeping in mind (we'll have more from Miguel later Thursday):
Cap note: any incentives added to Brady's deal that are considered "likely to be earned" this year will count towards the Patriots' salary cap in 2018. For those considered "not likely to be earned," they will count towards the salary cap in 2019 if he Brady achieves them. https://t.co/Fu262RBDbm
— Field Yates (@FieldYates) August 9, 2018