A league source tells Mike Florio of ProFootballTalk.com that the New England Patriots and record-setting tight end Rob Gronkowski have agreed to a new contract that would replace the final two years of his rookie deal.
Terms of the agreement are not known, but a couple of stories from earlier this year (here and here) pegged Gronkowski's value at $9 million or $10 million a year. The Patriots are known to ask for hometown discounts, however -- and they would be ripping up two years of an existing contract -- so we'll see much Gronkowski actually gets.
Gronkowski's agent, Drew Rosenhaus, denied that a deal had been reached. A second-round pick in 2010, Gronkowski was due to earn $540,000 in 2012 and $575,000 in 2013. But his 2011 campaign, in which he set NFL records for receiving yards (1,327) and receiving touchdowns (17) by a tight end, made his original deal obsolete, especially in light of the two-year, $15 million contract the Green Bay Packers gave JerMichael Finley.