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After the announcement earlier in the week that veteran special teams captain Matthew Slater would be back in Foxborough for the next two seasons, the details of the agreement have been released. According to the Boston Globe’s Ben Volin, the deal is worth $5.2 million.
Matthew Slater’s new deal: 2 years, $5.2m with a $1m signing bonus. Max of $2.7m cash in 2018 and $2.5m in 2019, which is an option year. Cap numbers of $2.025m and $3m. A pay raise from his last deal, but it’s really, “One year, and we’ll see.”
— Ben Volin (@BenVolin) March 23, 2018
ESPN’s Mike Reiss added additional details as well.
Matthew Slater’s two-year deal has a $1 million signing bonus. He gets base salaries of $1.2 million in 2018 and $1.6 million in 2019. In each season, he can earn an additional $400k in roster bonuses. There is also a chance to earn an additional $100k each year in incentives.
— Mike Reiss (@MikeReiss) March 23, 2018
The breakdown:
2018
Salary: $1,200,000
Signing bonus proration: $500,000
Per-game roster bonuses: $225,000 ($25,000 per game, 9 games “likely to be earned”)
Incentives: $100,000 (considering them “not likely to be earned” until confirmation)
2018 Cap Figure: $1,925,000
2019
Salary: $1,600,000
Roster/Option bonus: $400,000
Signing bonus proration: $500,000
Per-game roster bonuses: $400,000
Incentives: $100,000 (considering them “not likely to be earned” until confirmation)
2018 Cap Figure: $2,900,000
As Volin reported, the linchpin of the contract is the $400,000 roster bonus due at the beginning of the 2019 league year. Next season will be the 11th of Slater’s career, and he has missed 10 games over the past two seasons due to injury.
In past contracts, Slater’s incentives have been tied to being selected on the first ballot to the Pro Bowl. If his currently unspecified incentives are as well, then they will be considered “likely to be earned” for 2018, since he earned the honor for the 7th time last season. This would increase his 2018 cap figure to $2,025,000.
The re-signing of one of the team’s vocal leaders continues to show the Patriots’ schematic and financial devotion to the critical third phase. Slater rejoins unit stalwarts a Nate Ebner, Brandon Bolden, and Brandon King as a free agents whom the Patriots decided to bring back in 2018.
The transaction costs the Patriots $1,395,000 in net cap space after Slater replaced a player in the top-51. They now have just under $10 million in cap space moving forward.