New England Patriots quarterback Tom Brady has reportedly restructured his contract to create more financial flexibility for the team.
The restructuring was turned into the NFL office on Monday and will give the Patriots an extra $24 million to spend this offseason, according to Schefter.
Several New England players are set to become free agents at the end of the season, including cornerback Darrelle Revis, safety Devin McCourty, guard Dan Connolly and running backs Shane Vereen and Stevan Ridley.
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 from 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.
Brady signed a five-year, $70 million deal with the Patriots in 2013 and is signed through the 2017 season.
- Molly Geary