Tom Brady signing two-year contract extension

It's worth $23 million per year.

Tom Brady threw a pass in practice on Thursday. Steven Senne/AP

Tom Brady is signing a two-year contract extension with the Patriots, a source confirmed to the Globe on Sunday. The two-year, $70 million extension, terms first reported by NFL Network’s Ian Rapoport, take Brady through the 2021, when he will be 44. He will be paid $23 million this season, $30 million in 2020, and $32 million in 2021.

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ESPN’s Adam Schefter also added context to Brady’s deal.

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ESPN’s Field Yates first reported Sunday that the Patriots are close to signing Tom Brady to a contract extension.

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Brady has never played out the final season of a contract during his 20 seasons in the NFL. The Globe’s Ben Volin wrote Wednesday that Brady’s $27 million cap number was the fourth-highest in the NFL, but could “easily be remedied” by converting most of that money into a signing bonus and adding years to Brady’s contract.