Darrelle Revis contract protects him from franchise tag, saves Patriots cap space
strong>Darrelle Revis signed what was reported as a one-year, $12 million contract with the New England Patriots on Wednesday, and that is indeed what the deal will work out to. However, the contract he signed is actually a two-year deal worth a total of $32 million that is beneficial both sides. Allow us to explain.
The most important thing for Revis is that the second year of the contract, which is worth $20 million and will never actually come into play, prevents the Patriots from giving him the franchise tag. Once the 2014 season is completed, the team can either restructure or release. The franchise tag won’t be an option. You can’t “release” a player and then give him the franchise tag.
From New England’s standpoint, the contract saves money on the salary cap this season. Revis will earn a base salary of $1.5 million in 2014, with a $10 million signing bonus and a $500,000 roster bonus. His cap charge for the upcoming season will be $7 million. His cap charge for 2015 will be $25 million (which the Patriots will never pick up), with $5 million in dead money counting toward the 2015 cap if the team releases Revis.
Revis is guaranteed at least $12 million from the contract. Only $7 million of that applies to the 2014 salary cap. The other $5 million will be paid and counted toward the 2015 cap if the Patriots release him. If they restructure and work out a long-term deal, Revis will be getting more than $12 million guaranteed anyway.
In other words, the contract is beneficial for everyone. Revis cannot be given the dreaded franchise tag. The Patriots free up $5 million in cap space of the $12 million they owe Revis in 2014. They can address more roster needs now and hope that a long-term extension is reached, otherwise they’ll eat the $5 million against the 2015 cap.
Thanks to ESPNBoston.com’s Mike Reiss for making sense of all this