The DeVante Parker contract extension with the New England Patriots seemingly came out of nowhere a week ago, but according to FOX Sports’ Henry McKenna, the deal has been in the works for quite some time.
Per McKenna, the Patriots have been in talks with Parker regarding an extension since the end of the 2022 season. The veteran wideout was playing on an expiring contract, and he was slated to hit free agency in 2024.
But the Patriots struck a deal that will keep him off the open market next year.
The extension is reportedly worth upwards of $33 million with at least $14 million guaranteed. It includes a $4.6 million signing bonus, along with fully guaranteed salaries for 2023 ($1.22 million) and 2024 ($3.3 million). As far as the incentives are concerned, they are tiered by receptions, playing time and All-Pro honors.
Details about DeVante Parker's contract with the #Patriots, per a source close to the situation:
1️⃣It's an extension worth up to $33M with $14M guaranteed.
2️⃣The deal includes $14M guaranteed and $11M in new money (before incentives) in 2023
3️⃣The contract has fully guaranteed…— Henry McKenna (@henrycmckenna) July 3, 2023
The fact that Parker’s contract had been in the works is added proof that it should have no impact on a potential deal with free agent receiver DeAndre Hopkins.
This has been in the Patriots’ plan all along to keep the most reliable deep threat option on their roster for the foreseeable future. When healthy, Parker has proven himself to be a strong addition to the receiving corps.
But health has been a persisting issue for the 30-year-old wideout. So it should come as no surprise that his contract is heavily incentive-based.
