Patriots finalize deal to keep tight end Hunter Henry around

The New England Patriots are showing their locker room that they're serious about keeping core players in the fold.

According to the NFL Network's Mike Garafolo, the Pats and tight end Hunter Henry have agreed to terms on a three-year contract extension. The full terms have yet to be reported. Insider Josina Anderson was first to report Friday that the two sides were working on a new deal.

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According to Ian Rapoport, the Henry extension is for three years and a base value of $27 million, with a max value of $30 million. An AAV of $10 million ties him for the fifth-highest tight end in the NFL. According to Doug Kyed of the Boston Herald, the deal includes $16 million in guaranteed money.

Sept. 17, 2023; Foxborough, MA: New England Patriots tight end Hunter Henry catches a pass during the first half against the Miami Dolphins at Gillette Stadium. (Paul Rutherford-USA TODAY Sports)The Patriots named Henry a team captain before the 2023 season, and he followed that up by leading the team with six touchdown catches. If he were to depart in free agency, the Pats would have been left with only La'Michael Pettway on the roster at tight end.

Henry was set to be arguably the best tight end available in free agency, if he were to hit the open market next Wednesday. But instead, Patriots de facto GM Eliot Wolf is sticking to his promise of extending "core performers" from within the organization. This is a good message to send to the rest of the team, that if you perform and do everything the right way, you'll be rewarded.

Next up for the Patriots: re-sign right tackle Mike Onwenu. On Thursday they signed former Steelers tackle Chukwuma Okorafor.

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Matt Dolloff is a writer and podcaster for 985TheSportsHub.com. Any opinions expressed do not necessarily reflect those of 98.5 The Sports Hub, Beasley Media Group, or any subsidiaries. Check out all of Matt's content.

The New England Patriots are primed to make a big splash in 2024 free agency. Armed with the second-most salary cap space in the NFL at about $88.75 million (via Over The Cap), they're well-positioned to invest in at least one player around the top of the market.

And there have been plenty of rumors leading up to free agency. After the NFL Combine and the franchise tag window have come and gone, the start of the league year and the open market is the next big step. The Patriots should be an active team when that begins.

The league year officially begins at 4 p.m. ET on Wednesday, March 13. But it's likely that plenty of free agent news will pour in before then, because first, there's the "legal tampering" period, which officially opens at noon ET on Monday, March 11.

MORE: Ranking the top-10 free-agent wide receivers of 2024

Read below for the latest Patriots news & rumors ahead of the start of NFL free agency, in our live Patriots free agency tracker...

Hunter Henry won't hit the open market, after all. He's staying with the Patriots on a three-year extension worth a base value of $27 million and a maximum of $30M, with $16M guaranteed.

Josina Anderson was first to report Friday that the two sides were "working on" a deal, then the NFL Network's Mike Garafolo reported the agreement. Ian Rapoport had the contract details, while Doug Kyed of the Boston Herald had the guaranteed money.

As first reported by Ian Rapoport, the Patriots are signing former Steelers right tackle Chukwuma Okorafor. The 26-year-old started 59 of 77 games for Pittsburgh from 2018-23.

According to Field Yates, Okorafor's contract is for one year and a base value of $4 million with a chance to be worth up to $8.25 million. The move feels like an insurance signing in the event that the Pats end up losing Mike Onwenu in free agency.

The Patriots used up their only tag on safety Kyle Dugger, who got the transition tag. That means they couldn't use any tag on offensive lineman Mike Onwenu. That didn't necessarily mean Onwenu couldn't still sign an extension with the Patriots, but according to Ian Rapoport, Onwenu is expected to become an unrestricted free agent.

New England now runs the risk of losing its starting right tackle to free agency. With left tackle Trent Brown also likely gone, the Patriots have a lot of work to do at that position.

The Patriots have applied the transition tag - not the franchise tag - to safety Kyle Dugger, as reported by ESPN's Jeremy Fowler. Per the report, Dugger's transition tag costs $13.81 million. Fowler believes the Patriots could be buying time to work toward a long-term deal with the 27-year-old safety.

The transition tag gives the Patriots the right to match any offer Dugger would receive on the open market, similar to a restricted free agent getting an offer sheet. However, the big difference is if they lose Dugger to another team, they won't receive any compensation.

It doesn't sound good for the Patriots' chances to re-sign either wide receiver Kendrick Bourne or tight end Hunter Henry. According to a report by MassLive from the combine, they're "not seeing eye-to-eye" with Bourne on a contract, and they're "far apart on an extension" with Henry.

The report did also state that the Patriots "would like to bring Henry back." But it sounds like it's going to take a real, competitive offer to get that done.

Get complete New England Patriots coverage at 985TheSportsHub.com.

Matt Dolloff is a writer and podcaster for 985TheSportsHub.com. Any opinions expressed do not necessarily reflect those of 98.5 The Sports Hub, Beasley Media Group, or any subsidiaries. Check out all of Matt's content.