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Patriots and Tom Brady reportedly agree to two-year, $70 million contract extension

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The greatest quarterback of all time will get a new deal soon.

NFL: JUL 28 Patriots Training Camp Photo by Fred Kfoury III/Icon Sportswire via Getty Images

One of the biggest stories entering the New England Patriots’ training camp was quarterback Tom Brady’s contract: the six-time Super Bowl champion and most accomplished player in NFL history did not yet receive an deal beyond the 2019 season — the final of the two-year, $41 million extension he signed in 2016. However, it appears as if there is some movement between the two sides now and a deal imminent.

According to ESPN’s Field Yates, the team and the 42-year-old are closing in on a new contract extension that should be finalized soon. Seeing the two sides hammer out a deal was the expected outcome since the start, despite some perceived lack of talks recently. Nevertheless, it appears that Brady’s camp and the Patriots organization have worked something out that benefits both of them.

Naturally, there are two main points to look for once details get out: 1.) How long is the deal, considering that Brady turned 42 yesterday and is entering unchartered territory? 2.) How does the contract impact the Patriots’ salary cap both this season and over the remaining length of the deal. Both points will give us an indication how long the two parties think the quarterback will continue playing — or if they take a year-to-year approach.

[UPDATE #1, 08/04/2019, 1:11 pm ET] According to NFL Network’s Ian Rapoport, the deal is done even though no details are known yet.

[UPDATE #2, 08/04/2019, 1:29 pm ET] According to ESPN’s Adam Schefter, the deal will be for two years and pay him $23 million this year — but it will be adjusted annually. Brady is now under contract with the Patriots through the 2021 season, at which point he will be 44 years old going on 45.

[UPDATE #3, 08/04/2019, 1:55 pm ET] According to NFL Network’s Ian Rapoport, the team is worth a total of $70 million: Brady will get $23 million this year, as well as $30 million and $32 million the following two seasons. However, Rapoport also pointed out that both sides are open to adjusting if circumstances call for it.