Getty New England's DeVante Parker has a $33 million extension.
New England Patriots wide receiver DeVante Parker has a $33 million contract extension, and Henry McKenna of FOX Sports recently obtained a breakdown of the deal.
Parker and the Patriots agreed to the extension on June 28, which won’t negate the team’s pursuit of free agent wide receiver DeAndre Hopkins. McKenna reported, via “a source close to the situation”, that Parker will make $14 million guaranteed with the contract that’s “worth up to $33 million” overall.
Parker will earn $11 million “in new money” that comes “before incentives” this season, McKenna reported. Incentives for Parker include results for the percentage of snaps played, catches, receiving yards, and if he makes All-Pro, McKenna wrote.
For 2023, Parker will make $1.22 million followed by $3.3 million in 2024 — both of which are fully guaranteed according to McKenna. Lastly, Parker will receive a $4.6 million signing bonus.
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…
McKenna previously reported that Parker and the Patriots “began negotiations for this extension shortly after the 2022 season”. Parker joined the Patriots via a trade with the Miami Dolphins in 2022, and he caught 31 passes for 539 yards and three touchdowns.
New England still seeks more talent at wide receiver with the pursuit of Hopkins, whom the Arizona Cardinals released on May 26. Hopkins visited the Patriots in mid June and received a contract offer, but he remains unsigned with a team before training camp in late July.
DeVante Parker Emerged as Top WR in Patriots Practices
Parker deflected any talk about Hopkins during mandatory minicamp in June. With that said, McKenna noted that Parker stepped up in minicamp and organized team activities.
What a healthy DeVante Parker brings to the #Patriots:
“Parker is the team’s leader at the wideout spot,” McKenna wrote. “He’s a veteran, he’s experienced and he helps set the tone at practice. Because the Patriots value him, they’re giving him additional financial security.”
That occurred amid the injury-related absence of JuJu Smith-Schuster, whom the Patriots signed this offseason to possibly be the Patriots’ top receiver. Smith-Schuster has been dealing with a knee injury since last season when he caught 78 passes for 933 yards and three touchdowns with the Super Bowl champion Kansas City Chiefs.
Despite the recent success, Parker still has to prove 2022 was an anomaly. He had stronger performances in his final three years with the Dolphins where he caught 58 receptions 836 yards and five touchdowns per season with the team.
“That is a loyalty contract for DeVante Parker,” former Patriots linebacker Ted Johnson said on 98.5′s “Zolak & Bertrand” show on June 30. “He wasn’t saying anything about the coaching staff last year. I didn’t hear any reports from behind the scenes that he had an issue.”
Patriots Get Security in DeVante Parker Extension
McKenna noted that securing Parker could help alleviate not singing Hopkins. Other teams such as the Tennessee Titans have pursued Hopkins of late.
“Because if Parker ends up having a big season in the wake of Hopkins signing elsewhere, New England will have an extension in place that won’t cost them big money,” McKenna wrote. He would otherwise have been set to hit free agency after this season.”
New England already has two receivers set for free agency in 2024 — Kendrick Bourne and running back/receiver Ty Montgomery. Bourne looks to bounce back from a subpar 2022 season, and Montgomery looks to carve out a role in the backfield behind Rhamondre Stevenson.