As expected, the Patriots and Rhamondre Stevenson have worked out a deal. The fourth-year running back has agreed to a four-year, $36MM extension, ESPN’s Adam Schefter reports.
The pact includes $17MM fully guaranteed, Schefter notes. With Stevenson having been set to play out the final year of his rookie contract in 2024, this agreement will keep him in place through 2028. Ian Rapoport of NFL Network adds the 26-year-old will collect an $8MM signing bonus. 
Stevenson’s deal also includes $12MM in incentives, per Rapoport. Reaching 1,400 yards and earning Pro Bowl or All-Pro acclaim will add to the former fourth-rounder’s earnings on his New England extension, which can max out at $48MM. Stevenson has operated as the team’s lead back for the past two seasons, and he will now face increased expectations moving forward with a $9MM AAV. That figure ranks seventh in the league amongst running backs.
Last week, Stevenson publicly stated he felt an agreement on a long-term deal was close. That was followed in short order by a report that progress was being made, so today’s news comes as little surprise. The Patriots regime which drafted him – one which did not make a habit of investing in running backs – is no longer in place. New head coach Jerod Mayo spoke highly of a potential deal, though, and his tenure at the helm will no doubt feature plenty of usage for Stevenson in the backfield.
The Oklahoma product has a career yards per carry average of 4.5, although that figure checked in at 4.0 during his injury-shortened 2023 campaign. Ezekiel Elliott handled RB1 duties to close out the season in Stevenson’s absence, but he has since re-joined the Cowboys. To fill the veteran vacancy at the position, New England signed Antonio Gibson in free agency. The latter has shown an ability as a pass-catcher in particular, but early down responsibilities will no doubt lie with Stevenson for years to come.
While the 2024 offseason has seen a changing of the guard along the sidelines and in the front office for the Patriots, new general manager Eliot Wolf has made a number of moves aimed at keeping in-house players on the books. Deals for the likes of safety Kyle Dugger, right tackle Michael Onwenu and tight end Hunter Henry prevented what would have been notable free agent departures. Instead of testing the market in 2025, Stevenson will likewise be tied to New England for the foreseeable future.
The Patriots’ offense will feature a number of new faces in 2024, headlined by first-round rookie Drake Maye presumably taking on starting quarterback duties at some point. The team’s array of pass-catchers features veteran signing K.J. Osborn and a pair of rookies (second-rounder Ja’Lynn Polk, fifth-rounder Javon Baker), but the ground game will no doubt remain a key element of the team’s attack. That will leave Stevenson as a focal point for the Patriots’ offense in 2024 and beyond as he seeks to justify this lucrative investment.
Don’t get me wrong, he’s a perfectly good player, but I don’t really see why they found this necessary. Aside from how replaceable all but the very elite running backs are, and how prone they are to getting hurt or going off a cliff early, I don’t see why they felt the urgency to pony up so much a year before he hits the market. Locking a guy up early is supposed to save money. This is more than Swift, Montgomery, or Conner got, and more guaranteed money than Jacobs got. Were they really afraid he’d cost much more after a year in this Patriots offense?
@Ooof—yea this is an interesting choice for sure. Ewpcallly if you see the laundry list of Undrafted rookie free agent running backs, the talent pool from the recently finished UFL season and then signing Gibson this spring. 9 Ms a year isn’t much tho but still
UFL? Please don’t talk like this on this page. We will always be Patriots and yes, on the undrafted FAs but UFL, no never
I think it’s largely giving your new QB a decent back, who blocks well and also is a decent safety valve on passing downs as well and is only 26 so you’re getting his prime years locked down.
Is it a little overpay, kind of, but since you’re gonna have a cheap qb for 4 years then it’s not the biggest issue.
I don’t think it’s a huge deal either way, but they already had him under contract for his age 26 contract, and the track record for running back second contracts ain’t exactly great. And again, at this price, they didn’t save any money. They could have still paid him after this season if they still wanted to. There’s a limit to how much his price could realistically go up.
You’re only 17mm guaranteed with him. Should he fall off a cliff or get massively hurt, it’s not gonna break your cap to cut ties.
Side note he’s already 18th on the pats career rushing list. With a legit qb he could make it pretty high on the list. He hasn’t had that yet.
Again, not saying it’s a huge deal, but I don’t get why they need to give him the seventh most guaranteed money of any running back in football a year early. They could have waited a year to outbid other teams for the same price. The switch can flip very quickly with running backs, and no one’s shelling out all that much for them in free agency. I like the player. I just don’t get this contract with this timing.
To some extent I think they gave Stevenson a nice payday to counter all the criticism that Kraft is a cheapskate owner. Hard to attract quality players and free agents once your organization gets a reputation of not rewarding solid performances.
Kraft IS a penny pincher, always was always will be
I think he is a very good back. Walter Payton couldn’t have done much with that offense the past couple years. If I was preparing a defense against that offense , I would stack the box and make the putrid QB position beat me. Thats what they did …
Sure, they could let his contract expire but he is a quality back. To replace him with a comparable talent the team would need to use a second or third pick. Now they can use that pick on a more valued position. These contracts are structured to minimize cap impact. This will not be an annual hit of $9. Only $17 million is guaranteed.
Agreed that he’s a quality back, but I don’t think they would need to use a second or third round pick to find a comparable talent to a guy they found in the fourth round. And a third round pick would be much cheaper and have much less wear and tear.