Patriots and Gronk agree to 6year/$54 Million Contract

[Deus Irae]

Yo soy dinero

 

[rookBoston]

Maybe this gives BB the cap clarity two years out to do the deal with Welker

 

[Clonamery]

El Es Fiesta Grande now. Well earned, big boy!

BTW, for a chuckle try doing a Google image search for "gronking." Heck, I'll do it for you:

https://www.google.com/search?tbm=i...96.8.8.0.0.0.0.81.476.8.8.0...0.0.uOXqjYQKRG4

A touching panorama of men from all walks of life, brought together by a single pose.

Thankfully, in most cases, shirts on.

 

[MoLewisrocks]

Jason La Canfora‏@JasonLaCanfora

In terms of new money over the next two seasons, it comes in the form of a signing bonus worth about $8M

3m Jason La Canfora‏@JasonLaCanfora

After 2015, option bonus execution would extend deal thru 2019, so at the max its a 6yr; $54m deal with $13m in skill guar and $18m for inj

4m Jason La Canfora‏@JasonLaCanfora

Details of the Gronkowski extension, from @CBSSports.com: $Bm signing bonus; '12 and '13 base remains; new salaries for '14 and '15...

 

[mayoclinic]

NFL.com reports it's a done deal, and that it does extend Gronk through 2019:

Patriots, Rob Gronkowski agree to six-year $54M extension - NFL.com

Unbelievable news. June 8 in New England should be known from now on as "Gronk Day".

And I predict that Wes Welker will now get a 3 year deal in the $25M range, probably in the next week.

 

[MoLewisrocks]

At first blush that is a great deal for the Patriots. He will have to earn it, and if he does by then he will be well worth it. If **** happens they seem to be covered as long as it doesn't happen in the first 2-3 years.

 

[PATSYLICIOUS]

So IF this is an extension, we have him the next 8 years for roughly $56M correct? So this year and next year's cap #'s can be adjusted towards that ~7M # to lessen the future cap hits? Or would they keep his # around 1M and then start the bigger hits in 2013?

 

[patchick]

Thankfully, in most cases, shirts on.

Yup, just joining in the wholesome fiesta:

 

[MoLewisrocks]

So IF this is an extension, we have him the next 8 years for roughly $56M correct? So this year and next year's cap #'s can be adjusted towards that ~7M # to lessen the future cap hits? Or would they keep his # around 1M and then start the bigger hits in 2013?

Correct on the long term read. Sounds like they aren't frontloading too much on the cap, just $2M per more for 2012 and 2013 on top of existing rookie salaries (with $8M in his pocket via signing bonus). Only thing that would change that is if the option in 2014 is fully guaranteed, which it doesn't sound to be, in which case it too would be amortized in advance beginning now.

 

[TyronePoole]

this looks to be one of the best contract wranglings ever by the Pats FO. For the criticism they have gotten for what I perceive as mistakes with Wes and Logan 9and a couple others), they deserve credit here. This gives us so much freedom in not having to worry about this going forward and I'll bet that if everything goes reasonably to plan it'll save the Pats a bunch of money and heartache as well.

 

[mayoclinic]

Maybe this gives BB the cap clarity two years out to do the deal with Welker

Yup. I'd also advise Welker to try this negotiating strategy:

Well, maybe not.

 

[PATSYLICIOUS]

At first blush that is a great deal for the Patriots. He will have to earn it, and if he does by then he will be well worth it. If **** happens they seem to be covered as long as it doesn't happen in the first 2-3 years.

It is a great deal and I'm betting in 2 years it will look like an absolute steal. Market is always growing for studs like Gronk.

That is assuming he doesn't have an inexplicable massive drop in productivity.

 

[The Gr8est]

Gronk was smart to get this signed before they amputate his left ankle.

Errr, I mean "Gronkle".

 

[mayoclinic]

It is a great deal and I'm betting in 2 years it will look like an absolute steal. Market is always growing for studs like Gronk.

That is assuming he doesn't have an inexplicable massive drop in productivity.

It gives Gronk financial security and certainty, and effectively rips up 2 years of his current deal. But I wouldn't be surprised to see the terms renegotiated in 3-4 years if Gronk continues on his current path. The market will be different.

 

[MoLewisrocks]

Drew Rosenhaus‏@RosenhausSports

Congrats to Gronk & his family on his contract extension with the Patriots. My thanks to Mr.Kraft & Coach Belichick for making this possible

Now I'm off to sell a recently unemployed black guy to some equally wonderful outfit...

 

[PATSYLICIOUS]

Correct on the long term read. Sounds like they aren't frontloading too much on the cap, just $2M per more for 2012 and 2013 on top of existing rookie salaries (with $8M in his pocket via signing bonus). Only thing that would change that is if the option in 2014 is fully guaranteed, which it doesn't sound to be, in which case it too would be amortized in advance beginning now.

Thanks for the explanation, works for me :rocker:

 

[MoLewisrocks]

It gives Gronk financial security and certainty, and effectively rips up 2 years of his current deal. But I wouldn't be surprised to see the terms renegotiated in 3-4 years if Gronk continues on his current path. The market will be different.

It doesn't rip anything up. That remains the one thing they never do...(except for the one time they did it for Brady but he gave them one hell of a discount to). The option bonus precludes them considering a renegotiation in 3-4. Maybe in 5-6, He will be getting another chunk of cash in 2014 in the form of the option bonus, probably double digits, and then higher base salaries the remainder of the way. The questions will arise as he approaches 28-29. Is he still wildly productive? If so they incrementally extend a couple of more years and he gets another bonus chunk. Otherwise - if still very good but not otherworldly, it stays the same. Worse case scenario if he isn't maintaining productivity perhaps due to compounding injuries he gets asked to renegotiate in the other direction with some incentives through which he can recoup prior salaries).

 

[jason423]

Correct on the long term read. Sounds like they aren't frontloading too much on the cap, just $2M per more for 2012 and 2013 on top of existing rookie salaries (with $8M in his pocket via signing bonus). Only thing that would change that is if the option in 2014 is fully guaranteed, which it doesn't sound to be, in which case it too would be amortized in advance beginning now.

Reading through the info, which is likely all coming from his agent, it looks like the real contract is a 2 year extension (4 year deal) with the Patriots having until late 2015 to kick in the real extension. With 18 million in guarantees it likely means you are looking at base salaries in 2014 and 2015 of $5 million each with 14 guaranteed for skill, injury, and cap and 2015 for just injury. If that is really how it plays out that is a fantastic deal for NE.

 

[BradyManny]

At first blush that is a great deal for the Patriots. He will have to earn it, and if he does by then he will be well worth it. If **** happens they seem to be covered as long as it doesn't happen in the first 2-3 years.

Brilliant!!

What a deal for the Pats.

This guy is a top 5 offensive talent in the league. Frankly, there's only one other weapon in the whole league I would move him for and that's Megatron. And Gronk'll be a fraction the price.

Another savvy move for the Pats - and one that works out rather well for Gronk as well. He gets some money upfront he otherwise wouldn't, even if over the longhaul he makes less, he realizes real money now is better than hypothetical money later.

Him slipping to round two is ultimately what allowed this all to come to pass.

 

[PlainOldEd]

Best news ever.