Originally published June 28 2023 at 22:53.
The New England Patriots have extended wide receiver DeVante Parker through 2025.
The deal is worth up to $33M.
Parker was on the final year of a deal the Patriots inherited from the Dolphins in an April 2022 trade. Miami sent Parker and a 2022 fifth round pick to New England in exchange for a 2023 third round selection.
Parker was set to make $5.7M in base salary this season. The Patriots could have saved just over $6.2M in cap space by releasing him, but instead reworked his contract to create around $4M in overall cap.
By all reported accounts the Parker extension will not prevent New England from continuing to pursue free agent WR DeAndre Hopkins, who visited the Patriots two weeks ago.
This signing is completely fine. $33M sounds like a lot for Parker, who started just 11 games for the Patriots last season. He had decent production, though, finishing with 31 catches for 539 yards (17.4) and 3 touchdowns.
The $33M is also largely incentive. Parker’s base for 2023 will be lower than it was set to be prior to this extension, and the deal provides only $14M in guarantees and roster bonuses. Mike Reiss reports that the included bonuses are the standard “performance, playing time and All-Pro honors.” It’s a smart way to structure contracts.
Likely everyone’s first thought was, “Does this mean there’s no room or money for Hopkins?” I don’t think Hopkins and the Patriots are a great match (our Hopkins free agency article will be published soon), but it only makes responsible sense for the team to leave themselves the option.
Since this deal in fact creates cap space and will not keep New England from continuing to court Hopkins, I like it for them. Parker, as always, could stand to be more consistent (3 games played in 2022 with zero receptions, another game with 1 reception for 9 yards), but, when he’s on, Parker can put up numbers.
The Patriots wide receiver corps was very thin. They signed Smith-Schuster in free agency, but also lost Jacoby Meyers and Nelson Agholor. They didn’t address the position in the draft until the sixth round, when they took Kayshon Boutte (who knows which version of him will show up) and Demario Douglas, so keeping Parker happy was the correct decision.
Grade for the Patriots: B+
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