FOXBOROUGH, Mass. – New England Patriots owner Robert Kraft, whose team carried out a free agent binge that broke the NFL record for most guaranteed money for signing contracts, described the aggressive approach as strategic.
“It’s like investing in the stock market,” said Kraft Football Tomorrow in America column. “You take advantage of corrections and inefficiencies in the market when you can, and that’s what we’ve done here. We’ll see. Nothing is guaranteed, and I’m very aware of that. But we’re not in business to be.” in business. We are in this business to win. “
Kraft bought the Patriots for $ 172 million in 1994. With the signing of 19 free agents, some of whom played for the Patriots last year, he has spent roughly $ 162.5 million in guaranteed money (a number that will increase as details of a few more deals emerge become).
The richest deals in terms of guaranteed money were made to former Baltimore Ravens linebacker Matthew Judon ($ 32 million), former Tennessee Titans tight end Jonnu Smith ($ 31.25 million) and former Los Angeles Chargers Hunter Henry ($ 25 million) awarded.
Kraft said to King, “In my 27 years as an owner, I’ve never had to raise this much capital.”
Kraft stated that the combination of the Patriots’ abundant salary caps formed the basis of the spending. “Instead of 10 or 12 teams fighting for the most top players, there were only two or three” – a result of the NFL lowering the salary cap from $ 198.2 million to $ 182.5 million due to the pandemic.
Playing without quarterback Tom Brady for the first time in two decades, the Patriots went 7-9 last season and missed the playoffs for the first time since 2008.
On Friday, coach Bill Belichick said in a statement: “We are very happy about the additions to our squad this year. Whether through trade, free hand or signings, the group offers a good mix of attack, defense and specialty.” It was great to see them around the building including some familiar faces and we all look forward to continuing to build for the coming season. “