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Details on Tom Brady’s restructured contract: report

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Tom Brady’s contract restructuring saves salary cap space for the Tampa Bay Buccaneers but doesn’t give the team an option to keep him in 2023.

The Bucs released $9 million to Cap Space last week through the restructuring of Brady’s contract according to ESPN’s Adam Schefter. Brady will earn up to $30 million next season with the reshuffle according to Greg Auman of The Athletic. The Bucs quarterback earned $29.4 million in 2021 and remarked Aumann.

It could be Brady’s last year with the Bucs, Schefter reported. His contract expires after the 2022 season, making him an unrestricted free agent for 2023. Brady’s contract also includes a no-franchise-tag clause, Auman reported, meaning the Bucs can’t keep him with the franchise tag.

Auman noted that Brady’s contract with a no-tag clause was not unusual for him. Brady’s previous Bucs contract and his most recent Patriots contract both had no-tag clauses. Brady signed an extension with the Bucs in 2021 on his first contract with the team.

Brady’s four contestable years on his restructured contract give the Bucs no leverage to retain his rights after 2022. The four contestable years allow the Bucs to split Brady’s $13.88 million roster bonus through 2026 to save cap space. Aumann reports. Brady’s contract also consists of a base salary of $1.12 million and a deferred bonus of $15 million beginning in 2021, Auman reported.

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However, Voidable Years didn’t resolve all of Bucs’ salary cap challenges with Brady’s contract. It could cost the Bucs $35.1 million in dead salary-cap money next year to Aumann. That means the Bucs have to shell out that amount against the cap if Brady isn’t playing.

“If he retires or signs an extension before March, that can be split between 2023 and 2024 to make it more manageable,” Auman wrote.

For now, the Bucs have $13 million in salary caps for the NFL draft and dwindling free agency days, according to Spot Trac. In addition to signing draft picks, the Bucs must re-sign veteran free agents Rob Gronkowski, Ndamukong Suh and Steve McLendon. Gronkowski, who made $8 million in 2021, and Suh, who made $9 million last year, will not come cheap this year in particular.

“It’s up in the air right now, but I feel ok with that,” Bucs head coach Todd Bowles said of Gronkowski and Suh via the Tampa Bay Times on Sunday April 24th. “There are still things to be worked out and we’ll see what the draft brings and we’ll continue to work with these guys as well.”

Brady, 44, left things up in the air after the 2021 season with a Feb. 1 retirement but returned to the Bucs on March 13. His future after 2022 looks bleak as he could retire again or go freelance.

National media pundits like Pro Football Talk’s Mike Florio have consistently reported that Brady nearly joined the Miami Dolphins during his retirement. Additionally, PFT commentator Chris Simms reported that the Dolphins planned to offer the Bucs a second-round draft pick for Brady’s quarterback rights. It didn’t go with that high price of “five no. 1s” that former Bucs head coach Bruce Arians needed during the NFL Combine.

Buc’s general manager Jason Licht called the rumors “chatter” during the team’s April 19 press conference. Licht also confirmed that the Bucs have not yet offered Brady any involvement.

“No, we didn’t have those discussions,” Licht told media on Tuesday, April 19. “The only discussions we had with Tom was when he came back. We look forward to this year and look forward to getting started.”

CONTINUE READING: Bucs’ Tom Brady trolls Elon Musk in viral message

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