FOXBOROUGH, Mass. -- New England Patriots quarterback Tom Brady restructured the remaining three years of his contract, helping the team create $7.2 million in salary cap space this year, a source confirmed.

As part of the restructure, Brady had his 2012 base salary reduced from $5.75 million to $950,000. The team then took the remaining $4.8 million, combined it with a $6 million roster bonus due to him, and gave him a $10.8 million signing bonus.

Brady doesn't have his salary reduced, he just receives the money in a different form.

Patriots owner Robert Kraft, speaking at a community event on Thursday at Gillette Stadium, calling the restructuring a "win-win all-around" for Brady and the team.

"I think we're blessed to have the number one quarterback in the NFL," Kraft said of Brady. "But let's also remember, that when he restructures his deal, he's getting a big bundle of cash up-front. But it is helping us create cap room."

With the additional $7.2 million in cap space created by Brady's restructuring, Kraft was asked if it meant the team was clearing cap space to make what a reporter called a "big move."

"I don't know what that means, 'big move.' Remember, we are in the business of quality depth management," Kraft said. "It's a physical game and you have injuries, and you need depth on your team."