[Garofalo] Maye getting paid quickly

[ctpatsfan77]

More evidence that it wasn't entirely "Kraft is cheap."

A note in Drake Maye’s deal with the #Patriots (four years, $36.6 million): He gets all of his $23,467,100 signing bonus within 14 days of signing. That's one of the few elements of these deals that's a point of negotiation these days and that's a timely payout for Maye.

 

[jlu52]

More evidence that it wasn't entirely "Kraft is cheap."

Nice, but he really does need to spend this cash. He had to burn it. That said, it's very good news. Drake is now able to buy
the very best Bologna,at all times

 

[signbabybrady]

Nice, but he really does need to spend this cash. He had to burn it. That said, it's very good news. Drake is now able to buy
the very best Bologna,at all times

That Gabagool none of that cheap Oscar Meyer stuff.

 

[Love The Drake]

Drake is buying real estate in New England and more than likely brings his family with and needs housing for them.

It makes sense.

He’s the franchise

 

[ctpatsfan77]

Nice, but he really does need to spend this cash. He had to burn it.

He had to pay it, but it wasn't required that he pay it in the next week or so. Many players have their signing bonuses spread out over time.

 

[chasa]

More evidence that it wasn't entirely "Kraft is cheap."

it doesn't matter if its in 14 days or over the course of 4 years. the signing bonus goes into escrow the moment the deal is signed so kraft was losing the money regardless.

paying it out in the first 2 weeks means nothing with regards to how cheap kraft is.

the fact that we still have 40+ million in cap space says all you need to know.

 

[ahmed]

Nice payday for someone who never stepped on an NFL field.

Rookie salaries are starting to creep up. I know cap related but still they are getting large purely for potential.

 

[borg]

Robert to the Patriot accountants:

No!
Though I'm known throughout the world ....and rap community....as the Great Conciliator, I'm not going to pay early.
With that kind of money, I could add two feet to my inland light house, "Big Bob".

 

[Stu Pidassle]

Ordinarily, giving that kind of money to a kid before he earned anything is a big risk. Luckily he was not one of the players with character concerns.

 

[Wozzy]

More evidence that it wasn't entirely "Kraft is cheap."

They have the most cap space in the league, not just now but going forward. Paying off debt early when you have it to spend opens up money in the not too distant future, it's smart.

Current players and his former head coach Pete Carroll called Kraft cheap, not us... blame them.

 

[rkarp1]

They have the most cap space in the league, not just now but going forward. Paying off debt early when you have it to spend opens up money in the not too distant future, it's smart.

Current players and his former head coach Pete Carroll called Kraft cheap, not us... blame them.

Maye's cap hit this season is $6.6m.

 

[Wozzy]

Maye's cap hit this season is $6.6m.

Not sure how that's relevant, read the original posters comment and tweet.

 

[PancakeBlockPaul]

Think he could spot a bruh 100k? How about 50? Got a bridge I want to buy… :O

I wonder how much he will actually get after taxes (love state tax) and agents fee…

 

[Wozzy]

Think he could spot a bruh 100k? How about 50? Got a bridge I want to buy… :O

I wonder how much he will actually get after taxes (love state tax) and agents fee…

Massachusetts... he'll see roughly half of it.

 

[ctpatsfan77]

it doesn't matter if its in 14 days or over the course of 4 years. the signing bonus goes into escrow the moment the deal is signed so kraft was losing the money regardless.

The escrow requirement only comes into play for future guarantees and only over a certain amount. Moreover, it is possible that requirement has now been waived entirely (see: Cleveland rapist).

 

[ctpatsfan77]

Think he could spot a bruh 100k? How about 50? Got a bridge I want to buy… :O

I wonder how much he will actually get after taxes (love state tax) and agents fee…

FWIW, the CBA explicitly limits an agent's take of a player's NFL earnings to at most 3%. (In some cases, it's 2% or even 1%.)

 

[PancakeBlockPaul]

FWIW, the CBA explicitly limits an agent's take of a player's NFL earnings to at most 3%. (In some cases, it's 2% or even 1%.)

3%, not a bad take if that’s the amount:

 

[Wozzy]

Bottom line is Maye is a rookie, even one of the highest paid rookies being a 3rd overall pick. His cap hit for the next four years represents 2.6%, 3.0%, 3.4% and 3.7% of their total cap spending... he's cheap if he turns into a great QB.

To put that into perspective, in 2024 Joe Burrow and Josh Allen account for 24% of their team's total cap. A great rookie QB is a cheat code if you can put a great team around him quickly.

 

[rkarp1]

Bottom line is Maye is a rookie, even one of the highest paid rookies being a 3rd overall pick. His cap hit for the next four years represents 2.6%, 3.0%, 3.4% and 3.7% of their total cap spending... he's cheap if he turns into a great QB.

To put that into perspective, in 2024 Joe Burrow and Josh Allen account for 24% of their team's total cap. A great rookie QB is a cheat code if you can put a great team around him quickly.

we do not know what the salary cap will be next year, never mind the two years thereafter
if the team is really lucky, Maye shows enough that he warrants an extension after year 3
the sooner they tie him up, the cheaper he will be. the cap is only going higher and higher as amazon, apple, Netflix vie for streaming rights, and gambling money skyrockets

 

[Wozzy]

we do not know what the salary cap will be next year, never mind the two years thereafter
if the team is really lucky, Maye shows enough that he warrants an extension after year 3
the sooner they tie him up, the cheaper he will be. the cap is only going higher and higher as amazon, apple, Netflix vie for streaming rights, and gambling money skyrockets

The contracts signed for new TV deals and gambling rights is already baked in, the cap will rise slightly over the coming years. It won't be a massive jump like we just saw, because that was that money.

TV deals last about a decade, they don't sign a new one every season.

Also with the Patriots being the most cap rich team in the NFL, a rising cap only helps them.