Stock up, stock down for Patriots ahead of preseason opener

Who’s stock is up and who’s stock is down for the Patriots?

The New England Patriots are approaching their first preseason game of the 2023 season on Thursday, which will be an important test for every player on the 90-man roster. Each player is fighting for a role and an opportunity to make the 53-man roster.

As each week passes, we will be taking a look at players or position groups and breaking down how they have been performing this summer.

Stock watching is a way of sharing what we see and how a player is performing or building off of their past performances. Generally, the more a stock drops, the lower their roster lock status becomes.

As with all roster moves, there are multiple facets that get taken into consideration, like contracts, draft status and positional need. Let’s take a look at who is up and who is down in the Patriots’ stock watch.

What does Ex-Patriot Shaq Mason’s new contract mean for Mike Onwenu?

Will Shaq Mason’s new deal impact ongoing negotiations between the Patriots and Mike Onwenu?

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Former New England Patriots offensive lineman Shaq Mason signed a brand new, three-year, $36 million contract with $22 million in guaranteed money with the Houston Texans on Wednesday.

Mason, 29, was acquired by the Texans in March, almost a year after the Patriots shipped him off to Tampa Bay to shore up the line in front of Tom Brady. With Brady now retired and the Buccaneers likely in a rebuild, they shipped off an elite guard to a team looking to protect their young quarterback, who we now know is C.J. Stroud..

With Michael Onwenu entering a contract year after performing well above his sixth-round pick status, the Patriots may have an understanding of the guard floor for that next contract.

In a previous article, I mentioned that the Patriots may be planning for life without Onwenu, but if they wish to retain young, homegrown talent, it feels like a contract of four years, $48 million is the starting point for the team in negotiations.

Onwenu is at the top of his position in terms of play and will likely cash in during the 2024 free agency period. However, with the Patriots only having 39 players under contract for 2024 and an estimated $100 million in cap space, they have the means to make it work. Even more so, the NFL salary cap continues to rise year after year with new money. So a $12-$14 million guard contract may seem silly now, but in a few years, the market will eventually even out.

The only thing that may hinder any contract negotiations is if the Patriots philosophically believe in their approach to draft the next guy and replace outgoing linemen, like they did with Ted Karras and Joe Thuney.

Frankly, I find that to be a good approach when you’re getting close to the cap, but with a 25-year-old, elite guard that has tackle flexibility sitting on the roster, they should do right and extend him early.

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How much would extension for elite offensive guard Michael Onwenu cost Patriots?

A Michael Onwenu extension probably won’t come cheap for the Patriots, and deservingly so.

It’s no doubt that the New England Patriots struggled along the offensive front throughout the 2022 season, However, one of their true bright spots for the team has been right guard Michael Onwenu.

The former sixth-round pick in the 2020 NFL draft has been a stud ever since he was selected out of the University of Michigan. With the Patriots already looking to build a cohesive offensive line this offseason, they could at least check one monumental move off the box by extending the former Wolverine with a new contract.

Onwenu is in the last year of his rookie deal, and it carries a cap hit of a little over $1 million. Since joining the Patriots, he has only allowed six sacks and has been penalized just six times. Without a doubt, it’s an impressive feat that has earned him PFF Grades of 75.2 pass blocking and 82.4 run blocking over his career.

Typically, guards of his age (25) and production have signed deals around $15 million average annual value (AAV). I think the Patriots could extend him for five years, $75 million with $30 million fully guaranteed. That’s typically in line with what other elite (yes, elite) guards have signed over the past few seasons.

This new deal would put Onwenu in the top-six for all guards in the NFL, behind other players like Quenton Nelson, Elgton Jenkins, Brandon Scherff, Joe Thuney, and Joel Bitonio.

It would be a well-deserved pay raise for an impact player that could help stabilize a unit that’ll need plenty of help keeping Patriots quarterback Mac Jones upright.

 

Estimated Contract: 5 years $75m, $30m guaranteed. Signed through 2028.

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