WEEI/Rapoport: Brady deal "imminent" - 3 years, $58M

Land 3.75 acres- Cost $11 mil

House 22,000 sq/ft - Cost $20 mil

Weight Room & Excersize Room

Garage 6 car

Pool Lagoon shaped

Giselle worth $150mil

NICE !!

Anyone have updated pics of Tom & Giselles Mansion? These are April 2010.

Re: Per WEEI - Brady deal done

JSn said:

Ok, so this puts Brady's deal at something like $65 Mil over four years. That's about what everyone figgered, no?

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That would make him the highest paid by average at least temporarily at $16.125M per overall and $19.3M average in new money depending on how you want to spin it.

I think this bandaid option has long been on the table and if anything has changed it would be the guaranteed $$$ payout language or perhaps a slightly higher new money average that would provide bragging rights however briefly. I think he probably wanted the long term deal again, albeit not structured to flat salaries on the backend because that is what killed him in the second half of this deal. However if they can't fully guarantee his money because of the reallocation rule and the only alternative is signing bonus, a short deal is all they can legitimately offer since the level of bonus is tied to the length of any deal. I would imagine they are offering close to half of this money in signing bonus/first year salary (which for all intents and purposes is now banked). His problem in this deal is how to get it extended again in three years or less when he will be 36.

swheeler23 said:

So Brady plays this year for 6.5. the contract doesn't start until next year? What if he is hurt? Isn't he taking all the risk?

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signbabybrady said:

The guarentees would still be guarenteed just the way this is structured Brady doesnt see the money til next year. I am not a capoligist but this is the way I understand it. And I also believe this means none of the dollars get applied until future years which given this to be an uncapped year would seem odd as you could free up some money from the cap in theory. It is still early in the report and we should just wait for miguel to get it straight.

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No, because while the extension starts next year the bonus for agreeing to it gets paid this year on top of his existing $6.5M. This has always been the only way to get an extension done for Brady or Manning absent the ability to fully guarantee future earnings.

From a cap standpoint it works OK for the team because 25% of the signing bonus plus $6.5M in present year salary and roster bonus will hit the cap in 2010 insuring that the cap hits over the next three seasons don't top roughly $16M. Assuming a cap in the $130M range going forward that's roughly 12% of cap to the QB, which is Bill's preferred limit.

Again, if signing bonus is used in lieu of fully guaranteed money, which is the only real option they have, it gets paid up front. Nobody signs an extension that pays nothing up front and just plays out the remaining year. It only sounds that way when they talk about retaining the existing year. In normal circumstances that bonus could be split into signing/option as Brady did last time. This time they can't guarantee his option with salary language because of that reallocation rule. So he needs to see essentially all his signing bonus money this season or he's taking the same kind of half assed not fully guaranteed deal that Ferguson and Mangold and likely when the terms are released Revis agreed to. I cannot imagine he or Manning agreeing to. I'm guessing his pure signing bonus money on this deal would be roughly $24M which when added to his existing $6.5M would mean he got a little more than half of his new deal up front (ergo guaranteed).

Paying his signing bonus up front shouldn't be a problem since Vince saw his ($18M) and in his case if they needed flexibility they could have gone the option route since his was essentially a FA signing of a new deal and not an extension. Same deal with Mankins, who while they chose to require he fold in a year at the RFA rate to lower his total average vs. average new money was signing a new deal that could included fully guaranteed money. Brady was the only big deal they faced that remained an extension subject therefore to the restrictive contract structure rules on extending players in an uncapped season. And when I say up front I mean he will see it BEFORE the next league year (they can easily dole it out in 2-3 increments between now and next March and it's still considered paid up front this year - teams do that a lot to ease cash flow).

Uncle Rico said:

With all due respect to Ian/Herald, still silence from Schefter/Reiss.

And this from Breer:

Albert Breer (albertbreer) on Twitter

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Of course, WEEI and the Herald had this story first, so Breer got caught with his pants down. Reiss did as well, and he has been silent on it.

NE39 said:

Of course, WEEI and the Herald had this story first, so Breer got caught with his pants down. Reiss did as well, and he has been silent on it.

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They're only "caught with their pants down" if the deal is actually announced soon, at the terms being reported. I'm hesitant to count chickens yet.

patchick said:

They're only "caught with their pants down" if the deal is actually announced soon, at the terms being reported. I'm hesitant to count chickens yet.

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Not me. Cluck, Cluck. This can't not happen, it wouldn't be fair.

Re: Per WEEI - Brady deal done

Uncle Rico said:

I believe Brady moved his weekly appearance from Monday to Wednesday this week. It would be awesome if that was because they're announcing the signing today.

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It would be awesome indeed. But the fact that D&C were off for the long weekend seems the more likely reason, alas.

NE39 said:

Of course, WEEI and the Herald had this story first, so Breer got caught with his pants down. Reiss did as well, and he has been silent on it.

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I'm optimistic, but also being cautious (the Herald's record on breaking Patriots stories merits some caution, regime change or not).

The fact that someone is telling Breer "not so fast" is worth noting. and I don't get the sense that Reiss would hold off "re-tweeting" news from other sources to save face.

Mike Reiss just tweeted this:

MikeReiss
Aware of Boston Herald/WEEI reports on 3-year extension being imminent for Brady. Working to attempt to confirm.

NE39 said:

Not me. Cluck, Cluck. This can't not happen, it wouldn't be fair.

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It's nice to here clucking here mean something other than "the sky is falling!"

Great news to hear the Goat will remain with us, but honestly I don't think one Patriots fan was doubtful for a second that this deal wouldn't get done.
Now lock up Moss for 3 years, Welker for a additional 3, In the near future i'd give Edelman a reasonable extension before he can test the market.
O yeah and trade that ungrateful hick Mankins for a draft pick and or pass rusher.

Friggin' Schefter, ruining my day by tweeting this:

Adam_Schefter
Aware of Brady-contract talk. But two knowledgeable people say reports of deal being in place are "inaccurate" and "wrong". We'll see.

NE39 said:

Of course, WEEI and the Herald had this story first, so Breer got caught with his pants down. Reiss did as well, and he has been silent on it.

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The Herald also reported that the Pats taped the Rams walk-thru prior to the SB - per the very credible source - Matt Walsh. I guess they not only got caught with their pants down - but they ended up pissing on themselves. Plus, any paper that hires Ron Borges gives me reason to doubt.

This is what kills me about the Herald - you didn't learn your lesson the first time, you effin dopes?

Adam Schefter just tweeted that: " two knowledgeable people say reports of deal being in place are "inaccurate" and "wrong""

Post count not high enough to link to the actual page

Twitter / Adam Schefter: Aware of Brady-contract ta ...

I put Schefter in the "credible journalist" category.

Does manning have a new contract yet? Why is no one talking about that?

Maybe Ian got his news from Tim Cowlishaw.

Re: Per WEEI - Brady deal done

upstater1 said:

You're leaving out the fact that this year's figure doesn't include the guaranteed money Brady was already paid. The cap number on Brady is higher (though of course there's no cap--acknowledged). In real actual money paid to Brady (his previous contract averaged $15 million a year) the deal is 4 years for $73 million.

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No, it wasn't and it isn't. Brady's previous contract in real money averaged just over $10M. It was a 6 year $60M with a couple of million tacked on to the final years during his last restructure to accommodate Moss's deal. The new deal if he took it would then become a 4 year $64.5M deal with $58M in new money covering the 3 additional years.

Brady averaged more (like $12.5M per) over the first three years of his existing deal, but he's averaged a lot less on the backed...BECAUSE THE DEAL WAS 6/$60 and this is year 6...:ugh:

If you just ripped up his remaining year and started over he would have averaged 5/$56M or just over $11M on his 2005 deal. But the offer supposedly on the table isn't ripping it up, it's adding $58M onto it in exchange for 3 more seasons after this. That deal would therefore average $16.125M over 4 years or $19.3M per in new money for the 3 new years. That's not cap, it's just math.

This is essentially the same deal they did for Seymour (adding 3 to 1) only in his case in lieu of a large signing bonus paid in 2006 he got a smaller extension bonus AND a FULLY guaranteed option bonus of $18M the following season (backed by a $19M salary if they didn't pay the option, just like the Haynesworth deal this spring which is why it didn't matter if they picked up his option or not, he was getting that money...the rules of an expiring CBA won't allow them to fully guarantee much of anything to Brady so he would have to get his guaranteed money in the form of a signing bonus or it isn't FULLY guaranteed).

This isn't a great deal for Brady - it's a bandaid deal and it works better for the team - which is why it's probably not all that imminent...

I also wouldn't be surprised if someone in the building or someone at the league office isn't floating a trial baloon based on a proposal they saw or in an effort to send the message that the unsqueaky wheel gets the oil here, or at least they are working on oiling him because he hasn't demanded anything or withheld services on or off the field...

So, just wondering if anyone else actually read the Herald story:

Patriots quarterback Tom Brady [stats] has been offered a three-year extension believed to be worth $58 million that works out to $19.3 million annually, according to sources close to the negotiation.

This would be in addition to the $6.5 million dollars he’s on the books for this year.

The Brady camp has yet to formally agree, but a deal could be in place within the next 24 hours, the Herald has learned.

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THis reads to me like a non-story; nowhere do I see the word "imminent.".

Tom Brady, Patriots close in on $58 million extension - BostonHerald.com

I wouldnt sweat the Schefter tweet because he's probably just pointing out the obvious. Those details being reported probably are NOT precise, they could be either slightly higher or lower, and the team HATES when news like this leaks, so theyre no doubt telling a few out there to zip it 'til its done.

Re: Per WEEI - Brady deal done

MoLewisrocks said:

No, it wasn't and it isn't. Brady's previous contract in real money averaged just over $10M. It was a 6 year $60M with a couple of million tacked on to the final years during his last restructure to accommodate Moss's deal. The new deal if he took it would then become a 4 year $64.5M deal with $58M in new money covering the 3 additional years.

Brady averaged more (like $12.5M per) over the first three years of his existing deal, but he's averaged a lot less on the backed...BECAUSE THE DEAL WAS 6/$60 and this is year 6...:ugh:

If you just ripped up his remaining year and started over he would have averaged 5/$56M or just over $11M on his 2005 deal. But the offer supposedly on the table isn't ripping it up, it's adding $58M onto it in exchange for 3 more seasons after this. That deal would therefore average $16.125M over 4 years or $19.3M per in new money for the 3 new years. That's not cap, it's just math.

This is essentially the same deal they did for Seymour (adding 3 to 1) only in his case in lieu of a large signing bonus paid in 2006 he got a smaller extension bonus AND a FULLY guaranteed option bonus of $18M the following season (backed by a $19M salary if they didn't pay the option, just like the Haynesworth deal this spring which is why it didn't matter if they picked up his option or not, he was getting that money...the rules of an expiring CBA won't allow them to fully guarantee much of anything to Brady so he would have to get his guaranteed money in the form of a signing bonus or it isn't FULLY guaranteed).

This isn't a great deal for Brady - it's a bandaid deal and it works better for the team - which is why it's probably not all that imminent...

I also wouldn't be surprised if someone in the building or someone at the league office isn't floating a trial baloon based on a proposal they saw or in an effort to send the message that the unsqueaky wheel gets the oil here, or at least they are working on oiling him because he hasn't demanded anything or withheld services on or off the field...

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Great point by you.