Tom Brady signs $27M three-year extension with Patriots

Brady and Belichick will keep working together for a few years. (USATSI)

Tom Brady will be a member of the Patriots for life, assuming his football life doesn't run past the age of 40. Brady signed a three-year, $27 million extension with the Patriots that will carry him through the 2017 season, CBS Sports NFL Insider Jason La Canfora confirms.

La Canfora also reports that the deal, which was first reported by Peter King of Sports Illustrated, is "largely guaranteed." In fact, La Canfora reports $57 million of the deal is guaranteed; the deal itself essentially gives Brady a new five-year, $60 million contract.

Most of Brady's contract comes in the form of a $30 million signing bonus, La Canfora reports. That means the biggest bonus for the Patriots isn't the insanely low salary they'll be paying one of the greatest quarterback in NFL history over the next few years.

The biggest bonus is that Brady's cap number is drastically reduced. La Canfora reports that the new Brady deal provides about $5-$6 million in cap relief for the Patriots this year.

Brady was scheduled to count $43.6 million against the cap in 2013 and 2014 and now will count just $28.6 million against the Patriots cap.

La Canfora has details on the cap numbers for the duration of the contract. In 2013, he'll count $13.8 million against the cap, 2014 will be $14.8 million, 2015 will be $13 million, 2016 will be $14 million and in 2017 he'll count $15 million against the cap.

Those cap numbers will be quite beneficial for New England as they seek to keep their free agents and provide additional weapons for Brady.

That's borderline insane; Brady will cost the Patriots some 30 percent less than quarterbacks like Drew Brees, Peyton Manning and, soon, Joe Flacco cost their teams.

It gives them option of bolstering the pass rush, beefing up the secondary (Aqib Talib is a potential free agent they could retain), keeping Brady's protection intact (Sebastian Vollmer is a free agent as well) or bringing back and/or in more weapons for Brady (Wes Welker is slated to walk, and there are ample free-agent wideouts on the open market).

La Canfora notes that the team and Brady could certainly change the deal in future years.

CBS Sports Senior Writer

Will Brinson joined CBS Sports in 2010 and enters his seventh season covering the NFL for CBS. He previously wrote for FanHouse along with myriad other Internet sites. A North Carolina native who lives... Full Bio

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