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(Reuters) - Quarterback Tom Brady has agreed to a bargain three-year, $27 million contract extension that will keep him with the NFL's New England Patriots through the 2017 season, Sports Illustrated reported on Monday.
The two-time National Football League (NFL) Most Valuable Player who led New England to three Super Bowl titles, will get a $3 million signing bonus plus salaries of $7 million in 2015, $8 million in 2016 and $9 million in 2017, the magazine said.
Brady, 35, who rose to fame after being taken in the sixth round of the 2000 NFL Draft, accepted about half the future salary commanded by other top signal callers in order to give the Patriots flexibility to sign other players, according to the report.
Brady passed for 4,827 yards and 34 touchdowns this past season with New England, who lost in the AFC title game to the Baltimore Ravens, one step from reaching their sixth Super Bowl with Brady at quarterback.
Reporting by Larry Fine in New York; Editing by Frank Pingue