Patriots releasing two veteran defensive players

Guy had one year remaining on his contract, and none of his $2M base salary was guaranteed. As a result, Monday’s move will produce $3M in cap savings and a dead cap charge of just $500K. 

Phillips was likewise on an expiring deal with none of the $3M he was owed in the form of guaranteed money. His release will also save $3M against the cap in 2024 while incurring $1.18M in dead money.

Amid an exodus of other longtime members of the organization in recent years, Guy found himself the longest-tenured member of the franchise heading into the 2023 season. 

Talks on an extension took place during the summer, but no agreement was reached. The 33-year-old had been a full-time starter in his first six seasons in New England, but his playing time dipped to a Patriots tenure-low of 46 percent in 2023. Now, he will begin searching for a new opportunity.

Guy remained a steady contributor along the defensive front for the Patriots across his 110 games played with the franchise, recording between one and three sacks and between 46 and 61 tackles from 2017-22. 

His production took a step back this past season, but the Super Bowl LIII winner could generate a decent market in free agency on a short-term deal.

Phillips inked a $12.75M extension in 2022, and he played every game over the past two seasons. After receiving eight starts in 2022, however, that figure fell to one this past campaign. 

The 31-year-old’s 12 percent defensive snap was the lowest of his career and a far cry from his previous workloads in his three Patriots campaigns. He shifted to a special teams mainstay, something which should help his financial floor on a new contract.

The safety spot could see further turnover in this offseason. Kyle Dugger is a pending free agent, as is versatile defensive back Jalen Mills (who logged over 100 snaps at each safety spot last season). 

Jabrill Peppers has one year remaining on his contract, so a long-term investment at the position should be expected either through free agency or the draft this offseason.

The Patriots entered Monday with $66M in cap space, the fourth-highest figure in the league. These cost-shedding moves will add to that total as the team begins a critical offseason with new personnel in place in the front office and on the sidelines. 

Both Guy and Phillips, meanwhile, will join the list of veteran defenders available on the free-agent market.