The New England Patriots' decision to extend DeVante Parker led some to think that they're slowing down their pursuit of DeAndre Hopkins. Not only does that not appear to be the case, but it also looks like it might have helped them.
Parker's new deal was reported to be a three-year, $33 million contract with up to $14 million guaranteed, ripping up the final year of his prior contract and keeping him under the Patriots' control through 2025. Even though the contract has an $11 million average annual value, it's expected to have a “considerably lower” base value with a relatively low value of guaranteed money. Also, “more than half of the total value will be tied to playing-time incentives, performance incentives, All-Pro honors and per-game roster bonuses,” ESPN's Mike Reiss reported.
Prior to Parker's extension, some thought that he would be a likely cut candidate because of his prior salary number for the 2023 season, which was just north of $6 million. The Patriots also could've cut him without any cap penalty, too.
As it appears the Patriots opened up cap space with the deal. It's unknown just how much cap space they've opened up from the extension, but it's still a significant move. That will be determined by his active roster bonuses and if they're fully guaranteed or not, per salary cap guru Miguel Benzan.
Not only did the Patriots extend Parker, but they also extended linebacker Ja'Whaun Bentley last week. He received a two-year, $18.75 million deal with $9 million guaranteed as he's entering the final season of his two-year deal. Bentley's extension is also expected to open up some cap space, as well.
How heavy are DeVante Parker’s active roster bonuses and if they are fully gtd will determine his new 2023 cap number and therefore the cap savings amount. I considered his old active roster bonus total of $500K to be on the light side. Most Pats can earn $1M. Highest = $1.5M https://t.co/q3twiHzMcS
— Miguel Benzan Patriots Cap Space is 14,145,985 (@patscap) July 3, 2023
The Patriots have roughly $14 million in cap space before taking into account the Parker and Bentley extensions.
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