The New England Patriots, strapped for cash ahead of the Nov. 10 trade deadline, have reportedly made a move to help give them some more breathing room.
According to The Boston Globe's Ben Volin , the Patriots have created $3.3 million in cap space by restructuring tight end Hunter Henry's contract. They converted half of his base salary (which was $3.575 million) into a signing bonus.
The Patriots now have $5.245 million in cap space, up from just a few days ago. Volin reported that this restructuring took place on Thursday.
They also added two void years to the contract, a deal that Henry signed before the season began. The veteran tight end agreed to a two-year, $16 million contract extension during the summer . Part of that deal included $14.5 million in guarantees and a signing bonus worth $4.2 million. Through incentives, Henry's contract can reach up to $20 million.
Henry has gotten off to a fast start with the Patriots on the field, grabbing 26 passes for 296 yards and two touchdowns. He's currently tied for the third-most receiving touchdowns by a Patriots tight end in franchise history, and needs one more to surpass Russ Francis' 28 for sole possession of third place.
Oct 4, 2026; Orchard Park, New York, USA; Hunter Henry #85 of the New England Patriots looks on before the game against the Buffalo Bills at New Highmark Stadium. Mandatory Credit: Gregory Fisher-Imagn Images | IMAGN IMAGES via Reuters Connect
He's also been a great leader for rookie Eli Raridon, who's caught two touchdowns in the TE2 role.
"I think a ton," tight ends coach Thomas Brown said this week about how Henry helps Raridon on and off the field. "Hunter helps me being around him. I think having a guy as a veteran leader, not just the experience of playing and the production, and coming off of a career year last year in season 10, but just the way in which he goes about his business. I think being able to be a leader ... starts with your example."
The Patriots can now use some of this extra cap space to potentially make a deal at the deadline. There are some big names that have already been traded at positions of need for the Patriots, like offensive guard Quenton Nelson and defensive tackle Jeffery Simmons. Now with some more flexibility, they could potentially look to plug up some of the gaps on the roster.
It likely won't be adding another tight end to the roster alongside Henry. Currently, the team has Henry, Raridon, Tanner Arkin and Cameron Latu on the active roster, and Tanner Conner on the practice squad.
Henry and the Patriots will take on the Miami Dolphins in Week 8 tomorrow at 4:25 p.m. EST.
This article was originally published on www.si.com/nfl/patriots/onsi as Patriots Make Important Financial Move with Hunter Henry's Contract .
