Actually you bring up an interesting point, is Revis even allowed to negotiate another deal next year unless we cut him first? My guess would be not.
So basically it looks like the Pats are in the drivers seat for a possible extension.
Well, technically no... and I'm sure his agent, being as pure of heart and honest as most agents are, will refrain from making inquiries with other teams as to what his potential market value would be
But seriously, the issue does come down to what teams are in the market.
What sense does it make for the Jets - without a QB etc. - to spend $15 million on a Revis?
That's why he's no longer there - and I doubt Revis wants to be on a team like the Jets
He'll get his money PLUS he'll want to play on a contender - one that he knows can consistently BE a contender for the duration of this contract
That limits the market considerably.
If $12 million a season is low so be it - maybe it takes $15 million. It's still doable (though a bit of a challenge) for the Patriots to do that.
Belichick has a salary cap value in mind - and my guess is in this case it's higher than it would be for many players. And while I'm not holding my breath expecting Revis to take a discount, let's see how the playoffs go - my guess is that Revis very much LIKES being on a team that, going into week 16 has locked up home field advantage and is likely considered a favorite to make it to, and win, the Super Bowl.
Let's put it this way - would Revis take $13 mil a season to play for the Patriots rather than the Jets for $15 million? My guess is yes. It's "about the money, plus" at this stage of his career.