Short version means that Tom Brady will retire as a Patriot.
Peter King has the details of the deal.
The extension will pay Brady a $3 milion signing bonus immediately, in addition to salaries of $7 million in 2015, $8 million in 2016 and $9 million in 2017. Brady told Sports Illustrated five years ago he wanted to play until he was 40, at least, and this will accomplish that. He turns 40 on Aug. 3, 2017.
The upshot of the deal is to give the Patriots massive cap relief in a flat-cap era. He was due to count on the New England salary cap $43.6 million in 2013 and 2014. Now, his cap numbers will add up to $28.6 million in the next two years, a savings of $15 million in cap dollars at a time the Patriots have free agents they want to sign to help keep the team atop the AFC East, which they have dominated since Brady took over at quarterback in 2001.