New England announced the deal with Collins on Thursday. A source told NFL Network that the Super Bowl LIII champions agreed to a two-year extension with King on Friday.
A source told NFL Network that Collins' deal is worth $1.05 million, with $250,000 guaranteed. The deal could move up to $5 million with incentives. A source told ESPN that King's extension adds $3.5 million to his contract. He is now signed through 2021.
Collins, 29, had 104 tackles, four sacks, four passes defensed, an interception, a forced fumble and a fumbler recovery in 16 games last season for the Cleveland Browns. The 2015 Pro Bowl selection and two-time Super Bowl champion first joined the Patriots as a second round pick in the 2013 NFL Draft.
The 6-foot-3, 250-pound linebacker was traded to the Browns in 2016. The Browns cut Collins in March.
King, 25, has been a special teams standout since joining the Patriots in 2015 as an undrafted free agent. The 6-foot-2, 220-pound defender had 12 tackles in 15 games last season. King has made 57 appearances for the Patriots during his four-year NFL tenure. He has also been a member of two Super Bowl-winning teams.
The Patriots also announced the release of defensive lineman Frank Herron on Thursday.