Tom Brady, Patriots agree on 2-year contract extension

Tom Brady and the New England Patriots agreed on a two-year contract extension, according to Adam Schefter of ESPN. The deal will keep him with the Patriots through the 2019 season, and will stack on the existing three-year deal he signed in 2015.

Brady will receive a $28 million signing bonus, and with a cap hit of $14 million in 2016, he saves the Patriots $1 million in cap space. With bonuses, Brady's new deal is worth as much as $60 million.

Brady restructured his deal to give the Patriots more room to maneuver last season, and had a base salary of just $8 million in 2015.

When Brady signed his three-year deal last time around, he eliminated all of his guaranteed money and it became guaranteed only against injury. Theoretically, this would have allowed the Patriots to cut Brady outright without penalties to the salary cap. Of course, there is a lot of trust between this quarterback and this organization, and Brady has taken multiple pay cuts over the years to help the team out.

Brady, 38, has a birthday in August and if he plays out this contract, he will be 42 years old when it is up. The quarterback claimed he wanted to play 10 more years in the NFL when he was asked about it last season, and while this deal won't get him there, it's certainly a start.

Showing no signs of slowing down, Brady threw for 36 touchdowns and seven interceptions last season. He also completed 64.4 percent of his passes, played in all 16 games for the seventh consecutive season and led the Patriots to the AFC Championship. He is a four-time Super Bowl champion, a three-time Super Bowl MVP and an 11-time Pro Bowler.

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