NFL Network's Ian Rapoport reported that the agreement was worth up to $7.5 million:
After losing Tom Brady to the Tampa Bay Buccaneers this offseason, the Patriots appeared set to hand over the offense to Jarrett Stidham after he had spent just one year in the league. The 23-year-old should still get a chance to at least compete for the starting job.
Here's how the Patriots' depth chart looks after the Newton signing.
New England Patriots Offensive Depth Chart
QB: Cam Newton, Jarrett Stidham, Brian Hoyer
RB: Sony Michel, James White, Rex Burkhead
WR: Julian Edelman, Marqise Lee
WR: Mohamed Sanu Sr., Damiere Byrd
WR: N'Keal Harry, Jakobi Meyers
TE: Matt LaCossee, Devin Asiasi
LT: Isaiah Wynn, Yodny Cajuste
LG: Joe Thuney, Jermaine Eluemunor
C: David Andrews, Dustin Woodard
RG: Shaq Mason, Najee Toran
RT: Marcus Cannon, Korey Cunningham
Newton isn't necessarily a lock to win the starting job, but his pedigree gives him a nod over Stidham, who has only appeared in three career games and completed just two of four passes.
Coming off two consecutive injury-laden seasons, Newton will first need to prove he's not only healthy entering the year but also durable enough to withstand multiple hits. Fortunately for the veteran, he'll go from a Carolina team that gave up the most sacks in the league in 2019 (58) to a New England club that only allowed the fifth-fewest (28).
Should Newton regain the form that made him an MVP in 2015, this could be the biggest move the Patriots make all offseason and serve as a stopgap for a team looking to develop its next franchise quarterback.