Tom Brady Signs $27M 'for Life' Contract with Patriots

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By Ryan Inoyori | February 26, 2013 2:28 PM EST

The American football quarterback Tom Brady of the New England Patriots signed on Tuesday a three-year, $27 million contract extension and presumably will be a member of the Patriots for life. The extension will carry him through the 2017 season.

Jason La Forta of CBS Sports NFL confirmed the contract. Peter King of Sports Illustrated who first reported the deal, said the contract offers stunning financial terms.

"Brady will receive a $3 million signing bonus immediately, and he will receive $7 million in 2015, $8 million in 2016, and $9 million in 2017," he wrote in cbssports.com.

La Canfora also reports that the brand new Brady deal holds about $5 to $6 million in cap relief for the Patriots this year. The team and Brady could change the deal in the coming years.

Peter King has Brady's cap numbers within the next five years: $13.8 million for 2013, $14.8 million for 2014, $13 million for 2015, $14 million for 2016, and $15 million for 2017.

The deal, however, is less than half the $20-million per season rate of Drew Brees of the New Orleans Saints in 2012 and the contract amount that Joe Flacco of the Baltimore Ravens hope to top in his 2013 contract.

As a starter, Brady's ten seasons earned trips for the Patriots to the Super Bowl in five of them, winning three. He also won two Super Bowl MVP awards and holds the NFL record for most touchdown passes in a single regular season. Tom Brady's career postseason record is 17-6 with his playoff win total is the highest in NFL history.

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