Patriots sign WR Julian Edelman to a super cheap “multi-year contract extension” through 2019

Earlier today, news broke that the New England Patriots and wide receiver Julian Edelmanwere closing in on a contract extension. Edelman, of course, was set to enter unrestricted free agency following the 2017 season and would have been a popular target due to his productivity in New England.

However, according to Adam Schefter, the 31-year old will not become a free agent next year: He and the Patriots have apparently agreed on a contract extension for two years, through the 2019 season.

Patriots and WR Julian Edelman now have reached agreement on a multi-year contract extension, per sources. @MikeGarafolo predicted deal.

Julian Edelman and Patriots reached agreement on a two-year extension that ties him to New England through 2019 season, per source.

NFL Network’s Ian Rapoport reports that Edelman’s deal is for a super team-friendly amountand Mike Garafolo added more details.

The #Patriots 2-year extension for WR Julian Edelman that @MikeGarafolo reported is for $11M, source said. $9M in total guarantees.

Adding to @RapSheet on Edelman: $5m signing bonus and $4m in reachable incentives. So two years, $15m max.

The team will now be able to keep its number one wide receiver in the fold for the foreseeable future – no matter if Tom Brady or someone else will ultimately be the quarterback to throw passes towards Edelman.

Edelman will cost the Patriots just $4 million in 2017, with a chance for an extra $500,000 in incentives if he matches last year’s production. Over the next three seasons, the receiver will receive roughly $15.5 million, with a chance to cost the team $19.5 million if Edelman achieves all of his incentives.

Edelman will cost between $5.17 million and $6.5 million per season over the next three years, ranking between the 24th most expensive receiver (Mohamed Sanu) and the 32nd most expensive receiver (Rishard Matthews). If Edelman plays at the level he has over the past few years, he will continue to be one of the most underpaid receivers in the league.

Since joining the Patriots as a seventh round draft pick in 2009, the former Kent State quarterback has grown from a return ace to the team’s number one wide receiver. Over the course of his career, he caught 425 passes for 4,540 yards and 24 touchdowns and has been a key member of two Super Bowl winning teams.

The Patriots top remaining free agents for the 2018 season are CB Malcolm Butler, LT Nate Solder, QB Jimmy Garoppolo, EDGE Rob Ninkovich, LB Kyle Van Noy, and RB Dion Lewis, along with special teamers Matthew Slater and Nate Ebner, and new acquisitions RB Rex Burkhead and EDGE Kony Ealy.