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Report: Brady extends contract

According to a report filed by Len Pasquarelli of ESPN.com, Tom Brady has signed a 6-year contract with the Patriots, worth close to $60 million.

The contract as reported includes a $14.5 million signing bonus and a $12 million option bonus due next spring. Recent reports have circulated saying the deal has been close with only the structure of the payments holding up the signing. It would seem the option bonus was a way to get both sides to sign. It also means that there will probably be a further restructuring of the contract when that option comes due in order to keep Brady's cap figure manageable.

This report has not yet been confirmed by the Patriots. Any official word from the team will be posted on Patriots.com as soon as it is available.

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