New details of Darrelle Revis' contract with the Patriots emerged on Thursday afternoon, and it is not simply the one-year $12 million deal that was reported Wednesday night.
According to multiple reports, Revis signed with the Patriots for a two-year deal worth $32 million with a team option for $20 million in the second year. USA Today was the first to report of the option for the second year.
We'll try to break it down for you without giving you an ice cream headache.
In 2014, Revis will get a $10 million signing bonus, a $1.5 million base salary and $33,333.33 for each of the first 15 games he plays. Altogether, there's $12 million for this season.
In 2015, the Patriots can retain Revis if they so choose. On April 1, 2015, they will owe him a $12 million roster bonus. His base salary would be $7.5 million and he will also get the $33,333.33 per-game bonus for 15 games that he is set to receive in 2014. Altogether, there's your $20 million for next season.
Would the Patriots ever pick up that $20 million option? It seems unlikely. Even for Revis, $20 million would be a steep price to pay.
Though it is a team option, the fact that the option is in the deal benefits Revis. If it's picked up, he's a very rich man for another season. If it's not, the Patriots cannot franchise him, meaning he'll be a free agent once again and able to go to the highest bidder. (NFL Network's Albert Breer says that the Patriots can place the franchise tag on Revis in 2016 after picking up the 2015 option. It would cost a whopping $30 million.)
Having the 2015 option also benefits the Patriots. It allows them to spread Revis' $10 million signing bonus over two years, Breer pointed out. That means his cap hit is just $7 million this year -- not the $12 million it would have been on the previously reported one-year deal -- meaning the Patriots have more cash to play with.
The Patriots will still have $5 million on the cap in dead money next year if they decide not to pick up Revis' option. But for now, having a second year on the contract helps give the Patriots more financial flexibility.
One would assume the Patriots would try work out a long-term deal with Revis between now and April 1 of next year. They're likely not inclined to pick up the $20 million option, and they're likely not inclined to take a $5 million cap hit on a player not in their locker room. Though Revis clearly appreciates the freedom that comes along with free agency, he may be open to a long-term deal after some time under Bill Belichick in New England.