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Patriots created roughly $3.4 million in cap space through their recent contract extensions

Related: Jake Bailey ‘happy’ and ‘blessed’ after signing contract extension with Patriots

New England Patriots Training Camp Photo by Jessica Rinaldi/The Boston Globe via Getty Images

The New England Patriots’ recent contract extensions did not just allow them to keep two of their better players for the foreseeable future, they also had a nice side effect. Signing defensive tackle Davon Godchaux and punter Jake Bailey to new deals also allowed the team to increase its salary cap space by $3.36 million.

According to salary cap expert Miguel Benzan, the Patriots’ now have $4.76 million available. While still near the bottom in a league-wide comparison, the team does have significantly more wiggle room now.

The first of the two contracts signed was Godchaux’s, who agreed to what was essentially a three-year pact at a value of $28.3 million. The first of those three years covers the current season and its structure allows New England to pick up $1.5 million in cap savings.

Godchaux’s salary was reduced from $6.5 million to $1.5 million while a new $3.5 million signing bonus was added. The 27-year-old is now signed through the 2024 season.

Bailey’s contract, on the other hand, added $1.86 million to the Patriots’ available resources.

The third-year punter signed a three-year extension that also impacts the current season. His 2022 salary was lowered from $3.99 million to $1 million, but a new $790,000 signing bonus proration and $340,000 active roster bonus were added to the mix. Bailey is now under contract through 2025.

All in all, the Patriots currently have 87 players on their roster. They will need to go below the NFL’s 85-player threshold after the first round of cuts on August 16.