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It doesn't rank with the rescue Tom Brady enacted two years ago, when he replaced an injured Drew Bledsoe and directed the New England Patriots to a Super Bowl title, but the three-year veteran quarterback did come to the aid of the team this week by helping create much-needed salary cap room.
Brady agreed to a "simple" restructuring of the 2003 portion of his contract, a move that reduced this year's salary cap charge by $2.006 million, but did not cost him anything in terms of overall compensation. The quarterback had his scheduled base salary of $3.125 million dropped to the $450,000 league minimum for a player of his stature.
The difference in base salary, $2.675 million, was guaranteed, allowing the Patriots to prorate it, for bookkeeping purposes, over the length of the deal, which runs through 2006. In essence, it is treated as a signing bonus, even though Brady receives the money this season....more
Brady agreed to a "simple" restructuring of the 2003 portion of his contract, a move that reduced this year's salary cap charge by $2.006 million, but did not cost him anything in terms of overall compensation. The quarterback had his scheduled base salary of $3.125 million dropped to the $450,000 league minimum for a player of his stature.
The difference in base salary, $2.675 million, was guaranteed, allowing the Patriots to prorate it, for bookkeeping purposes, over the length of the deal, which runs through 2006. In essence, it is treated as a signing bonus, even though Brady receives the money this season....more
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