Why Tom Brady agreed to a huge pay cut
Here are 3 reasons why the quarterback will get significantly less money than other star quarterbacks are paid.
But the sports world is buzzing because the 35-year-old New England Patriots quarterback is taking a major pay cut. The three-year contract extension he agreed to on Monday is reportedly worth about $27 million -- half as much as he was previously paid.
The going rate for star quarterbacks is much higher, The Associated Press reports. Drew Brees takes home a cool $20 million a year, while Peyton Manning gets about $18 million a year.
The new deal pays Brady less than the four-year, $72 million contract (with $48 million guaranteed) that he previously had. So why would the two-time league MVP and one of the best quarterbacks in the game settle take the pay cut? Here are three reasons:
More money for the team. Brady's contract frees up nearly $15 million in salary for the team, which will presumably make for a better lineup. Brady will now be a Patriot until he's 40, and if he's thinking about retiring then, he wants to go out with a winning team.
He doesn't need the money. Consider what Brady said about this in 2005, according to Sports Illustrated: "In this game, the more one player gets, the more he takes away from what others can get. Is it going to make me feel any better to make an extra million, which, after taxes, is about $500,000? That million might be more important to the team.''
He nearly doubles his guarantees. In an incredibly smart move for an aging quarterback, Brady nearly doubled his guarantees in case of injury. He went from a two-season contract with $30 million in remaining guarantees to a five-season deal with $57 million in guarantees, reports ESPN. Brady already experienced a major injury in 2008, and that could have been weighing heavily on his mind.
Yes he's rolling in money but unlike so many he did
a great service for his team . One of the good guys!
It's the trend of all high paid players in mid thirty or mid career age depending on position. From Brady, Brees, Manning, and even Vick. Aging players see that it is better to power down their contracts for longevity and extension rather than price themselves out of a job or a career.
Smart move by all of them.
I would love to see Tom win another superbowl and join Montana/Bradshaw with 3 wins. Tom is smart. He knows to get there, he could use other talent on the team.
And true, what's a million more a year if your family's combined income is already over 50 million a year.
I would tend to think in the long run the NFL records will bring more lifetime endorsement cash than a mere million or two a year for a 3 year contract.
Yup, smart boy!
Can't wait for the Wheaties box!
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