Report: Brady to receive lucrative extension

Updated: February 25, 2013

The New England Patriots have apparently granted
quarterback Tom Brady a contract extension that should send the Michigan
product and three-time Super Bowl winner into retirement a wealthy

On Monday, the Boston Globe cited a report from Sports Illustrated which
revealed the new pact will take him through the 2017 season, at which time
Brady will be 40 years old.

According to the report, Brady will receive a $3 million signing bonus and
will earn just $7 million in 2015, $8 million in 2016 and $9 million in 2017.

The deal will enable the Patriots to have greater financial flexibility over
the next two seasons. The two-time league MVP was slated to have a salary cap
hit of $21.8 million in 2013 and 2014 under the five-year, $78.5 million pact
he signed prior to the 2010 campaign.

The new breakdown on yearly cap numbers, as reported by NFL insider Peter
King, is as follows: $13.8 million for 2013, $14.8 million in 2014, $13
million in 2015, $14 million in 2016 and $15 million in 2017.

Brady started all 16 games a season ago, completing 401-of-637 attempts for
4,827 yards — second-most in his career — along with 34 touchdowns and eight
interceptions. His efforts earned him a fourth straight Pro Bowl nod and his
eighth overall.

Heading into his 14th professional season, Brady has shredded defenses to the
tune of 44,806 yards (ninth on the all-time list) and 334 touchdowns against
123 interceptions in 177 games for the Patriots since 2000.