The San Francisco 49ers trade for New England Patriots quarterback Jimmy Garoppolo almost included Brian Hoyer. The Patriots traded Jacoby Brissett during the preseason, and with the Garoppolo deal would not have a quarterback to back up Tom Brady. If they lose Brady to injury, things would not be pretty, but they still need a backup.
According to multiple reports Monday night, the deal originally was slated to have the 49ers send Brian Hoyer to New England. However, he was removed and the team eventually released him. The reason is due to the comp pick formula.
The 49ers are not in line for a comp pick given all the free agents they signed. However, if Hoyer had been dealt to the Patriots, his value on the comp pick chart would have transferred to them. According to Over The Cap, Hoyer’s contract gave him 5th round value in the comp pick formula.
The Patriots are currently expected to net two 4th round picks and a 7th round pick due to free agents lost. If they acquired Hoyer and kept him on the roster for two more weeks, he would cost them one of their fourth round picks. I say two more weeks because comp pick math requires a player remain on a roster until Week 10 to count against the formula. By getting released, Hoyer will not count against the Patriots comp pick formula if they sign him.
This also means the 49ers are left paying off Hoyer’s remaining guaranteed money, and the quarterback can double-dip. The 49ers gave Hoyer $9.85 million fully guaranteed. The guarantees included a $4 million signing bonus, his 2017 salary ($2,950,000), and $2.9 million of his 2018 salary. The 49ers will pay all that and Hoyer likely signs a deal with the Patriots for backup money.