Brady restructures contract, saves Patriots $7.2m against ’12 cap

Tom Brady agreed to a restructuring of his contract with the Patriots within the last week, a league source confirmed Wednesday night.

By doing so, he saves New England $7.2 million against the salary cap for the coming season, but his cap number in 2013 and 2014 now will be higher.

Under the original terms of the four-year contract extension he signed in 2010, which went into effect last season, Brady’s base salary for 2012 was to be $5.75 million. Now, according to NFL Players’ Association documents, his base salary will be $950,000.

The remaining $4.8 million was combined with the $6 million roster bonus Brady was to earn on Feb. 15, 2013 and the $10.8 million total became a signing bonus that will be prorated over the final two years of the deal.

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Brady initially was set to count $18.2 million against the salary cap in 2013 and ’14, and that number now will increase to $21.8 million in each of those years.

Hat tip to Brian McIntyre for uncovering the restructuring.