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Despite this supposedly being the quiet part of the NFL season, the Patriots managed to make waves last week by restructuring the contracts of wide receiver DeVante Parker and linebacker Ja’Whaun Bentley.
The Bentley contract made plenty of sense. The seventh-year pro is a team captain, a perennial starter on New England’s defense, and had a career year in 2022 with highs in tackles (125) and sacks (3). He more than deserves appropriate compensation.
The Parker deal, however, was a bit of a head-scratcher. Giving a 30-year-old, injury-prone wide receiver a restructure of three years and $33 million after only hauling in 31 catches for 539 yards in his lone season with your club doesn’t seem like smart business.
Though it was understood almost immediately that the sticker price of $33 million is the maximum value of the deal, from the outside looking in this felt like some sort of a loyalty contract handed out by Bill Belichick. You've come into my program, worked hard, and bought into (what is left of) the “Patriots Way”? Here's a bag of cash.
However, after ESPN’s Mike Reiss added some further context to the extension in his Sunday column, the parameters of the deal, at least from New England's side, became a little bit more clear:
“When the specifics of Patriots receiver DeVante Parker’s new three-year contract worth up to $33 million are ultimately revealed, the expectation from sources familiar with the general framework of the pact is that the base value of the deal is considerably lower, there isn't a high total of guaranteed money and more than half of the total value will be tied to playing-time incentives, performance incentives, All-Pro honors and per-game roster bonuses. In league circles, that’s sometimes referred to as a “pay-as-he-produces” deal, which would be the primary motivation for the Patriots to commit to Parker after a season in which he appeared in 13 games, totaled 51% playing time and amassed 31 receptions.”
Let’s dissect this further:
“The base value of the deal is considerably lower”
As was assumed, Parker’s base value and subsequent salary cap hit on the Patriots' books for 2023 and beyond will be lowered as a result of the deal. New England now gives themselves some flexibility should they want to make a move for either DeAndre Hopkins or Dalvin Cook, who they have reportedly been interested in.
As long as there’s some money guaranteed, you would assume that Parker would be fine with this type of restructure. What's the difference if you take a little less down the road for some cash upfront?
Oh wait, that's not what's happening?
Ken and Curtis: Mike Kadlick joins the show:
“There isn’t a high total of guaranteed money”
Huh? This nugget from Reiss’ column was one I didn’t expect. I assumed they would have to end up giving him some money upfront in order to keep him happy while also finding the leeway on their salary cap mentioned above by spreading his money out in a signing bonus across the new three-year contract.
Something isn't adding up from the Parker end. Is this basically just a pay cut?
“More than half of the total value will be tied to incentives”
No high guarantees and more than half of the value tied to guarantees and performance-based bonuses? What kind of contract is this?! As a player who has struggled to stay on the field throughout his eight-year career, why would Parker agree to an incentive-laden deal? It actually may make sense:
My guess on his compliance is that, although his base number is lower, it ties him to New England for longer and also makes his price tag less enticing for them to cut bait with should greener pastures come about down the line.
He no longer will become the "odd man out", will make some money if he’s healthy and performs, and solidifies himself a home in Foxborough for the foreseeable future.
Make sure to follow Mike on Twitter @mikekadlick, and follow @WEEI for the latest up-to-date Patriots and Boston sports news!
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