Patriots Won’t Pick Up Darrelle Revis’ Option

3:20pm: If Revis hits free agency, Kimberley A. Martin of Newsday (via Twitter) hears that he’ll seek something in the ballpark of $48MM over three years with $40MM guaranteed.

2:39pm: The Patriots have decided not to pick up the 2015 option on Darrelle Revis, clearing a path for the star cornerback to become an unrestricted free agent on Tuesday, reports Adam Schefter of (via Twitter). Of course, the Pats could still work out a deal to retain him, but it won’t be on the terms of that option. In fact, Charles Robinson of Yahoo Sports (on Twitter) says the Pats will continue negotiating with the cornerback.

Although New England would like to retain Revis, his cap number would have been an unpalatable $25MM had they exercised his option. Jeff Howe of the Boston Herald (on Twitter) wonders if news of the option being declined might be a negotiating ploy on the part of the Pats. Still, if there’s no deal ironed out, it would make sense that the Patriots would turn down his pricey option.

PFR’s Luke Adams recently wrote that a three-year deal in the range of $45MM with a sizable portion of guaranteed money could make sense for the Patriots. The question is, would such a deal make sense for Revis given the level of interest he’d probably receive on the open market.

The Jets have been involved in “serious internal discussions” about the possibility of bringing Revis back and they figure to be one of many teams to make a serious play for the star cornerback.

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