9:39am: Slater’s new deal features $1MM base salaries in 2015 and 2016, along with $100K in incentives in each season, and a $2MM signing bonus, tweets Jeff Howe of the Boston Herald.
8:36am: Slater receives $3MM in guaranteed money as part of his new deal, tweets Ian Rapoport of NFL.com.
8:13am: The Patriots and special teams ace Matt Slater have reached an agreement on a contract extension that will keep Slater under contract through the 2016 season, reports Field Yates of ESPN.com (via Twitter). According to Yates, the two-year extension is worth $4MM.
Slater, 29, has been with the Pats since being selected in the fifth round of the 2008 draft. Although he occasionally contributed in the return game and on offense in the past, he has played almost exclusively in kick and punt coverage in recent years, earning Pro Bowl nods in each of the last three seasons. According to Pro Football Focus’ data (subscription required), Slater has logged at least 13 special teams tackles in every full season since 2010 — so far this year, he has 11.
Slater is earning a base salary of $1.2MM in 2014, though his cap number is about $1MM higher than that figure due to bonuses and incentives. It’s not clear how the new deal breaks down, but an annual average value of $2MM seems about in line with the special teams captain’s previous deal.