Mac’s Football Blog: Patriots Free Up $7.2M In Cap Space By Restructuring Tom Brady’s Contract

Cap space for Welker long term dealio perhaps?

New England Patriots quarterback Tom Brady restructured his contract last week, a league source confirmed on Wednesday. Signed to a four-year, $72 million contract extension on September 10, 2010, Brady was scheduled to earn $5.75 million in base salary with a $6 million roster bonus and $250,000 workout bonus this season. Under the restructure, Brady’s base salary was reduced to a fully guaranteed $950,000, with the leftover amount ($4.8 million) combined with the roster bonus and converted into a $10.8 million signing bonus that will be prorated over the three remaining years on Brady’s contract.