The New England Patriots’ first external signing of 2022 free agency was a low-risk, high upside deal.
The Patriots on Wednesday signed journeyman cornerback Terrance Mitchell to what was reported as a one-year, $3 million contract. In reality, the deal was for one year and $1.75 million with the opportunity to make up to $3 million through playing-time incentives, according to details shared by ESPN’s Mike Reiss and others.
Mitchell’s contract also includes just $350,000 in guaranteed money.
What does that mean for the Patriots? It means if Mitchell, who’s played for five different teams in his seven-year NFL career, disappoints in training camp, New England can release him with minimal financial implications.