Breaking down the terms of Patriots RB Rhamondre Stevenson's new extension

The New England Patriots have been methodically making through their roster and extending a number of their own players this offseason to keep together a core group of guys that they believe will be the foundation for success in the coming years under new head coach Jerod Mayo.

A couple of weeks ago, the Patriots and running back Rhamondre Stevenson agreed to a four-year extension worth $36 million, and we now have the details of the deal.

According to Over the Cap , Stevenson will receive salaries of $3.12 million in 2024 (fully guaranteed), $2.75 million in 2025 (fully guaranteed), $4.75 million in 2026 ($3.25 million guaranteed), $6 million in 2027 and $8 million in 2028. The new deal also includes $8 million in a signing bonus (prorated at $1.6 million per year). He'll have per-game roster bonuses totaling $1 million in 2025 and 2026 and $1.7 million in 2027 and 2027. He'll also receive $250,000 workout bonus in 2025 and 2026 as well as $300,000 workout bonus in 2027 and 2028.

Essentially this deal is for at least two more years beyond the 2024 season because New England could designate Stevenson as a post-June 1 after 2026 and only incur a $1.6 million dead cap hit while saving $8 million.

However, the Patriots hope that Stevenson gets back to being one of the best backs in the league after a down year in 2023, and if that's the case, this deal will look like a steal.