Report: Patriots, Tom Brady close to finalizing contract extension

The Patriots and Tom Brady are close to finalizing what could be Brady's final contract extension of his career.

Tom Brady's new contract extension looks to be on the horizon. The New England Patriots and their starting QB are close to finalizing a contract extension, according to ESPN's Field Yates. 

Filed to ESPN: the Patriots and QB Tom Brady are close to finalizing an agreement on a contract extension, per league source. Should be done soon.

— Field Yates (@FieldYates) August 4, 2019

New England is in a very unique situation. They have to give an extension to a 42-year-old QB, which has never been done in the history of the league. One might think it would be an easy decision given Brady's resume, but Bill Belichick isn't one to take unnecessary risks. 

Expect the contract to be incentive-ladened, that way the HOF quarterback can get paid if he performs at a high level in the coming seasons, while also protecting the team in the event that Brady regresses due to his age.