The Patriots rip up the old Star contract and replace it with a new one that unlocks millions in cover space

Jake Bailey has been one of the top punters in the NFL for the past three seasons, and now, he’s getting paid like one.

According to ESPN.com, Bailey and the Patriots have agreed the terms of a new four-year contract. The two sides agreed to tear up the old starter deal, which was due to expire after the 2022 season.

“Anytime there’s uncertainty, you know, there’s something in the back of your head, but in our position, you just have to be able to segment and go out into the field and execute,” In statements to the media on Monday,. “If you can’t do that with anything that distracts you, you won’t be playing for long.”

The new contract, which runs through 2025, is worth $13.5 million and includes $6.5 million in guarantees. Although this amount of money does not seem huge, it is an incredibly high amount for a gambler. The total amount of the deal makes it the second highest paid gambler in the NFL, behind only Seattle Michael Dixon, who signed a four-year $14.7 million deal with the Seahawks in June 2021. Bailey’s average annual salary of $3.375 million a year also His total guaranteed money of $6.5 million ranked him second in the NFL behind Dixon.

The Patriots raised some eyebrows in 2019 when they decided to use the 163rd overall pick on Bailey, but three years later, it now makes them look like geniuses. After a solid rookie year in 2019, Billy followed that up in 2020 with an All-Pro season.

One of the reasons Bailey got such a huge raise is because he was able to take advantage of the NFL’s proven performance incentives. These contract ladders are designed to help non-first-round people earn more money during the final year of their junior contract.

Under the original terms of his rookie deal, Bailey was set to earn just $965,000 in 2022, but after making the Pro Bowl in 2020, he launched the proven performance ladder, which was enough to increase his salary to $3.986 million for the final year of his rookie deal.

If the Patriots hadn’t awarded him a new contract this week, he would have counted $4.05 million toward the 2022 salary cap. Thanks to the new deal, Bailey will only count $1.85 million off the cap, according to ESPN.com, meaning the team would raise nearly of $2.2 million of much-needed cover space.

Billy and the Patriots just finished their first day in full podiums at training camp, and if you want to know how it went, be Be sure to click here to check out our full notebook from Foxborough.

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