New England was the lone team to make an offer to Newton - a one-year, incentive-laden deal worth up top $7.5 million - following the quarterback's release from the Carolina Panthers in April, according to ESPN's Adam Schefter.
Without a strong market, Newton was forced to take a deal that is far below that of a starting-caliber quarterback, even if he's able to hit all of the incentives.
Newton will attempt to revitalize his career after injuries derailed his final few seasons with the Panthers. He missed all but two games in 2019 due to a foot injury and played through a shoulder issue the season prior.
The star signal-caller said recently he believes the Panthers, who drafted Newton first overall in 2011, "gave up" on him.