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08:39 AM ET 08.17 | There was the journey toward a 16-0 regular season and the AFC championship, then the bitter ending of a crushing defeat in Super Bowl XLII. When top Patriots officials gathered this offseason, they pondered the best way to celebrate a season that had such exhilarating highs and one crushing low. In the end, after declaring the season the fourth-greatest achievement in team history, they elected to have a private ceremony to commemorate it last Monday at Gillette Stadium. Owner Robert Kraft and team president Jonathan Kraft presented the players with rings. On one side of the ring, it reads "16-0 -- perfect season." On the other, it reads "18-1, AFC Championship." In addition, a banner was made to commemorate the season, and it was unveiled at the ceremony, with Kraft pulling a rope as it came down from the ceiling. It will be displayed at Gillette Stadium, next to the team's Super Bowl banners.