Contract details: Patriots signed Ty Montgomery to a low-risk deal in free agency

Related: Who is new Patriots running back/wide receiver Ty Montgomery?

The first week of free agency saw the New England Patriots go bargain hunting. The team signed only two players from outside the organization, with neither of them receiving significant contracts.

Cornerback Terrance Mitchell joined the Patriots on a one-year, $1.75 million deal, followed by running back/wide receiver Ty Montgomery coming aboard via a two-year, $3.6 million pact. Based on their contracts, neither Mitchell nor Montgomery are locks to make the team this year.

Mitchell carries a salary cap hit of only $1.69 million as well as a $350,000 dead cap charge. Montgomery’s contract, meanwhile, looks as follows (via ESPN Boston’s Mike Reiss):

2022

• Base salary: $1.16 million
• Signing bonus proration: $150,000
• Offseason workout bonus: $50,000
• Roster bonus: $340,000
• Playing time incentives: $300,000
• Salary cap number: $1.64 million

The first year of Montgomery’s deal is similar to the one-year pact signed by Mitchell. His cap hit of $1.64 million is just the 29th highest on the team right now, compared to Mitchell’s $1.69 million ranking 28th. Furthermore, the Patriots would take on a minimal dead cap charge in case of a release: the deal includes only $300,000 worth of guarantees (although it seems likely Montgomery will earn his workouts bonus).

2023

• Base salary: $1.36 million
• Signing bonus proration: $150,000
• Offseason workout bonus: $50,000
• Roster bonus: $340,000
• Playing time incentives: $300,000
• Salary cap number: $1.9 million

While Montgomery’s base salary increases by $200,000 compared to 2022, he will still be cheap next year if on the roster. The biggest question besides him staying with the team that long is actually how much of his $300,000 roster bonus will be considered as likely to be earned: this year, $280,000 of it was designated as such; 2023’s number will depend on how many games Montgomery will play this upcoming season.

All in all, the contract is another low-risk deal from New England’s perspective. Even if Montgomery earns a roster spot and ends up hitting all of his bonuses and playing time incentives, he will still take up only a fraction of the Patriots’ cap space in both 2022 and 2023.

The deal is therefore reflective of his position on the New England roster. Despite his experience, Montgomery is a depth option on a team that also carries Damien Harris, Rhamondre Stevenson and James White at the running back position.