Tweet
Nothing against Brady, but I get a kick out of the media for making restructurings like this seem like a big deal. Even Pasquarelli lauds him, and then states that he'll actually get more money from this deal. Laud him for what?
Restructuring now gives Brady leverage later
By Len Pasquarelli
No one need pass the collection basket for New England quarterback Tom Brady, who in the wee hours of Sunday morning agreed to restructure his contract to help Patriots management carve out the salary-cap room necessary to absorb the initial $9.75 million charge for wide receiver Randy Moss.
It was, of course, a selfless gesture by one of the NFL's classiest performers.
But while Brady was universally lauded, and justifiably so, people should know this: The reworking of the contract didn't cost Brady anything at the pay window. He still will earn the $6 million that is due him in 2007. Not a penny less.
The money will just be distributed differently, that's all. Instead of having a base salary of $6 million for this year, Brady received a signing bonus of $5.28 million and had his base salary reduced to $720,000. Do the math, and unless your calculator is defective, that still adds up to $6 million.
Fact is, the maneuver actually netted Brady an additional $2.7 million over the course of his current contract, because as a part of the restructuring, the Patriots raised his scheduled base salary for the 2009 season from $2.3 million to $5.0 million. New England officials didn't alter his base salaries for 2008 ($5 million) or 2010 ($3.5 million). And Brady is still set to receive roster bonuses of $3 million each for 2008 through 2010...
By Len Pasquarelli
No one need pass the collection basket for New England quarterback Tom Brady, who in the wee hours of Sunday morning agreed to restructure his contract to help Patriots management carve out the salary-cap room necessary to absorb the initial $9.75 million charge for wide receiver Randy Moss.
It was, of course, a selfless gesture by one of the NFL's classiest performers.
But while Brady was universally lauded, and justifiably so, people should know this: The reworking of the contract didn't cost Brady anything at the pay window. He still will earn the $6 million that is due him in 2007. Not a penny less.
The money will just be distributed differently, that's all. Instead of having a base salary of $6 million for this year, Brady received a signing bonus of $5.28 million and had his base salary reduced to $720,000. Do the math, and unless your calculator is defective, that still adds up to $6 million.
Fact is, the maneuver actually netted Brady an additional $2.7 million over the course of his current contract, because as a part of the restructuring, the Patriots raised his scheduled base salary for the 2009 season from $2.3 million to $5.0 million. New England officials didn't alter his base salaries for 2008 ($5 million) or 2010 ($3.5 million). And Brady is still set to receive roster bonuses of $3 million each for 2008 through 2010...
Comment