Brady signs three-year extension with Patriots

Brady signs three-year extension with Patriots
February 25, 2013, 4:30 pm
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Tom Brady has signed a three-year contract extension with the Patriots that will keep him in New England through the 2017 season.

Sports Illustrated's Peter King was the first to report the news of the extension.

The three-year extension is worth $27 million. Brady will get a $3 million signing bonus and be paid $7 million in 2015, $8 million in 2016 and $9 million in 2017.

With the new deal in place, the Patriots will get a huge amount of salary cap relief. By extending Brady's deal, the Patriots will save $15 million toward their cap over the next two seasons.

More to come . . .