Patriots signed QB Tom Brady to a three-year, $27 million extension through 2017.
Previously signed through 2014, Brady is now under contract until age 40 and will likely retire a Patriot. As explained by SI's Peter King, Brady's deal will pay him "significantly less than the market will bear," in an effort to ensure the Patriots stay competitive throughout the contract's life. Brady received an immediate signing bonus of $3 million, but the new deal gives New England "massive cap relief" by reducing Brady's 2013 and 2014 salary cap numbers, freeing up $15 million over those two seasons. The Patriots should be active in free agency thanks to Brady. His 2013 cap number is now just $13.8 million.