Rhamondre Stevenson was correct. A new contract was, indeed, close.
The New England Patriots and the running back reached an agreement on a four-year extension worth $36 million, with $17 million guaranteed, NFL Network Insider Ian Rapoport reported on Thursday, per sources informed of the contract.
Entering the final year of his rookie deal, Stevenson said during mandatory minicamp that sides were “pretty close” on a contract. Ten days later, the pact came to fruition. The extension keeps the Pats’ top back under contract through 2028.
The $9 million new-money average puts Stevenson seventh among running backs, sandwiched between Joe Mixon ($9.875 million) and Derrick Henry/D'Andre Swift ($8 million).
The deal includes an $8 million signing bonus with $12 million available in incentives starting in 2025, based on reaching at least 1,400 yards and becoming a Pro Bowler or All-Pro, Rapoport added. Running 2025-28, Stevenson can earn $600,000 for reaching each 1,400, 1,500 and 1,600 scrimmage yards and an additional $600,000 for a Pro Bowl plus first- or second-team All-Pro honors. If he hits those figures, the pact would max out at $48 million.
Stevenson burst out in 2022, generating 1,040 rushing yards and 421 receiving yards. The 1,461 scrimmage yards is notable, given the incentives in his new deal. The Pats are betting their leading rusher gets back on track after an injury-riddled 2023 relegated him to 12 games and 857 scrimmage yards.
The 26-year-old profiles as a workhorse out of the Patriots backfield, with Antonio Gibson as a pass-catching threat. Kevin Harris, JaMycal Hasty, and undrafted rookies DeShaun Fenwick and Terrell Jennings will battle for additional depth jobs.
Stevenson’s ability as both a runner and receiver allows him to be a three-down weapon. Given the talent level in the Patriots offense in 2024, the running back figures to see the ball a ton if he can stay healthy.