The New England Patriots and quarterback Tom Brady are finalizing a contract extension, a league source told ESPN's Field Yates.

The two-year extension keeps Brady under contract through the 2021 season and will pay him $23 million this year, a source told ESPN's Adam Schefter.

That $8 million increase for 2019 will make Brady the sixth-highest-paid QB in the league, a source told Schefter, tying him with Drew Brees of the New Orleans Saints. The Patriots, in turn, get an additional $5.5 million of salary-cap space this year, a source told Schefter.

The deal will be adjusted each year Brady continues playing, according to Schefter.

Brady would have become an unrestricted free agent after the 2019 season. He had been set to make $15 million this year.

News of the extension comes a day after Brady celebrated his 42nd birthday.

No quarterback has ever started all 16 regular-season games at age 42, but the extension reinforces the belief that the Patriots expect Brady will be capable of doing so.

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