“We’re bringing in talent, one thousand percent,” Mayo said. “Have a lot of cap space and cash. Ready to burn some cash.”
Patriots head coach Jerod Mayo was asked Monday during an interview on WEEI’s Greg Hill Show if he had assurances from team owner Robert Kraft about how much money is available to be spent to improve the roster.
“We’re bringing in talent, one thousand percent,” Mayo said. “Have a lot of cap space and cash. Ready to burn some cash.”
According to Spotrac, the Patriots have around $68 million in cap space, which is the fourth-most in the NFL.
They’ve also ranked dead last in cash spending over the last 10 years, according to ESPN’s Mike Reiss. New England’s spending in 2021 was a bit of an outlier, Reiss noted. The team spent $222 million during a “then-record binge,” but that was after finishing at the bottom of the league during 2020.
Now, following the franchise’s worst season in more than three decades, how much cash is Kraft prepared to burn?
A portion of the cash will go towards re-signing players. Hunter Henry, Trent Brown, Kyle Dugger, Josh Uche, and Mike Onwenu are among the team’s top free agents. The Patriots will have to decide who they want to bring back.
Then there’s the free agent market, which could be tapped to bring in some outside talent.
And, of course, the Patriots could improve the roster through the draft. They hold the No. 3 overall pick in the 2024 Draft.
Last June, Boston Sports Journal’s Greg Bedard quoted Kraft as saying: “[Bill Belichick] has never come to me and not gotten everything he wanted from a cash-spending perspective. We have never set limits.’ And he further went on to say, ‘Money spending will never be the issue, I promise you, or I’ll sell the team.’ So that’s pretty definitive.”
According to ESPN, the Patriots ranked 30th out of the NFL’s 32 teams in cash spending last season. They were as low as 31st in both 2020 and 2014.
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