The New England Patriots quarterback is on the verge of being the first NFL player to make a full-time salary in a public company.
The team announced Thursday that Belichick, the former New York Jets coach who led the team to two Super Bowl victories, has signed a six-year, $65 million contract with Comcast Cable.
Belichick’s deal includes a $5 million signing bonus, and his base salary will be about $15 million.
He also will get $1 million in annual deferred compensation, which is part of the new NFL salary cap.
In addition to his salary, Belichick will also receive $25 million in guaranteed money and $15.5 million in salary-cap relief, according to the team.
The NFL’s salary cap will increase to $155 million in 2018, and the Patriots have about $55 million in cap space, which could increase significantly in 2018 and 2019 if Belichick is able to sign a new contract before then.
The contract includes a player option for 2021.
“It’s a great deal for me and my family, and I’m looking forward to putting this behind me,” Belichick said in a statement.
“We are excited to have Bill back in the locker room.”