Doug Kyed: A.J. Brown's contract is a bargain for the Patriots, but will it stay that way?

FOXBORO, Mass. — A.J. Brown wasn’t cheap to acquire via trade with the Eagles, but now that he’s on the roster, his contract is a bargain for the Patriots.

The Patriots gave up a 2028 first-round pick and a 2027 fifth-rounder to acquire the Pro Bowl wide receiver from the Eagles. He now carries an unconventionally structured four-year, $112.75 million contract, which averages out to just over $28 million per year, making him the 15th-highest-paid wide receiver in the NFL on an AAV (annual average value) basis.

It’s fair to say that Brown is better than the 15th-best wide receiver in the NFL.

Brown’s contract carries option bonuses for each of the remaining years. Each year, the Patriots can choose to either exercise Brown’s option bonus and prorate it over five seasons for salary-cap purposes, or decline the option and take the entire amount on that year’s cap. They have until the day before each season begins to decide whether to exercise or decline those options. To be clear: This is a decision they make every year. Declining the option would simply accelerate that year’s compensation onto the current salary cap. It would not release Brown or alter the remainder of his contract.

His contract also automatically voids after the 2029 season.

If the Patriots plan to keep Brown through 2029 and exercise each of his option bonuses, then they need to plan ahead, because they’ll be hit with a $53.52 million cap hit in 2030.

Here’s the full structure of his contract:

— 2026: $28.75 million guaranteed

Base salary: $1.3 million

Option bonus: $27.45 million

— 2027: $4 million guaranteed

Base salary: $1.345 million

Workout bonus: $250,000

Option bonus: $19.405 million

— 2028: Base salary: $1.39 million

Roster bonus: $1 million

Workout bonus: $250,000

Option bonus: $29.36 million

— 2029: Base salary: $1.435 million

Roster bonus: $1,000,000

Workout bonus: $250,000

Option bonus: $28.315 million

It’s important to note that Brown’s contract is not guaranteed after the 2027 season. So, the Patriots could pay him $49.75 million over two years and either cut him, trade him or restructure his deal.

It would not be ideal to cut him after the 2027 season before the Eagles even use the 2028 first-round trade chip they acquired in the deal.

The Patriots currently have just over $37 million in salary cap space. So, it would be tight, but they could decline his 2026 option bonus and have the entire $28.75 million sum hit their salary cap this year.

If the Patriots pick up his 2026 option bonus, then it would cost them $5.49 million in cap space every year until 2030. If the Patriots picked up his option bonuses every year, here’s a breakdown of how much it would cost them against the cap:

— 2026: $6.79 million

— 2027: $10.966 million

— 2028: $17.883 million

— 2029: $23.591 million

— 2030: $53.52 million in dead cap

If the Patriots decline his option bonuses each year, here’s a breakdown of how much it would cost them against the cap each year:

— 2026: $28.75 million

— 2027: $21 million

— 2028: $32 million

— 2029: $31 million

— 2030: $0

The Patriots can mix and match if they so choose, as well.

So, if they exercised his option bonus this season, declined it next year and then threw out the rest of his contract, here’s what his cap hits would look like:

— 2026: $6.79 million

— 2027: $26.49 million

— 2028: $16.47 million in dead cap

If the Patriots exercised his option bonus this season, then declined it in each ensuing year, here is what his cap hits would look like:

— 2026: $6.79 million

— 2027: $26.49 million

— 2028: $37.49 million

— 2029: $36.49 million

— 2030: $5.49 million in dead cap

Based on the structure of guarantees on Brown’s deal, it would not be surprising if the three-time Pro Bowl selection wanted his deal restructured sooner than later. Players care about cash owed, but they also value security and guarantees. Brown still has security on his current deal for this season, but it seems unlikely that he’ll be happy going into next year with just $4 million guaranteed. The Patriots would probably prefer to wait until next year to tweak Brown’s deal. He would probably prefer to get it done sooner rather than later.

Players value guarantees so heavily that Patriots guard Mike Onwenu actually took a pay cut for the 2026 season to factor in guarantees.

Patriots coach Mike Vrabel was asked Tuesday if Brown plans to play under his current contract.

“He’s been here a day,” Vrabel said. “The plan is for him to practice and try to get acclimated. I don’t see anything that would preclude him from doing that. Right now, I’m excited to add the player. I know the football team is looking forward to having him practice, get acclimated and whatever that looks like today. But by all accounts, he’s ready to go.”

It’s certainly a good sign that Brown did in fact practice on Tuesday. If he immediately wanted to redo his contract, then he probably wouldn’t have risked being on the practice field at all.

In the future, if those assurances come with new money, then suddenly he’s not as big of a bargain. One way to potentially kick the can further down the road would be to fully guarantee Brown’s 2027 option bonus ($19.405 million), plus a fraction of his 2028 option bonus.

But by trading for Brown, the Patriots inherited Brown at a discount compared to the four-year, $100 million deal he signed in 2022 and the three-year, $96 million extension he signed in 2024. The Eagles had to eat $43.36 million in dead cap, spread out over two years, that the Patriots never had to pay Brown.