Tom Brady, Buccaneers Reportedly Agree to Restructured Contract to Save Cap Space

Adam WellsApril 22, 2022

FILE - Tampa Bay Buccaneers quarterback Tom Brady (12) throws a pass against the Los Angeles Rams during the first half of an NFL divisional round playoff football game Jan. 23, 2022, in Tampa, Fla. While the NFL conference championship games went on without Brady for only the second time in 11 years, the world waits for the greatest quarterback of all-time to make his future plans official. An announcement is expected soon and a person close to Brady on Sunday, Jan. 30, 2022, told The Associated Press his decision will be based on family priorities, not finances. (AP Photo/Mark LoMoglio, File)

AP Photo/Mark LoMoglio, File

Facing a salary-cap crunch heading into the 2022 NFL draft, the Tampa Bay Buccaneers have reportedly restructured Tom Brady's contract.

Per ESPN's Adam Schefter, the Bucs cleared more than $9 million in cap space, and Brady is still scheduled to be a free agent after next season.

Brady was set to count $20.3 million against the cap, and the Bucs had $4.8 million in cap space, per Spotrac.

When Brady joined the Buccaneers as a free agent in March 2020, he signed a fully guaranteed two-year, $50 million contract.

As a result of the salary cap declining last year due to revenue losses from the COVID-19 pandemic, Brady signed a new two-year deal in March 2021 that included three voidable years to spread out the cap hits.

Tom Pelissero @TomPelissero
Tom Brady’s new contract with the <a href="https://twitter.com/hashtag/Bucs?src=hash&ref_src=twsrc%5Etfw">#Bucs</a> is another two-year, $50 million deal, but $41.075M is due in 2021 and just $8.925M in 2022, per source. <br><br>The deal once again includes postseason incentives, and there are three voidable years, lowering his cap number in 2021 to $9.075M.

After initially announcing his retirement from the NFL in February, Brady reversed course on March 13 and decided to return for a 23rd season.

In the aftermath of Brady's return, the Buccaneers had another significant event happen when Bruce Arians stepped down as head coach on March 30.

Todd Bowles, who spent the past three seasons as Tampa Bay's defensive coordinator, has been promoted to head coach. He went 24-40 in four seasons as head coach of the New York Jets from 2015-18.

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At 44 years old, Brady has shown no signs of slowing down. The three-time NFL MVP led the league in completions (485), attempts (719), passing yards (5,316) and passing touchdowns (43) in 2021.

The Bucs have a 24-9 record in the regular season with Brady at quarterback. They won Super Bowl 55 in his first season with the team and won the NFC South last season for the first time since 2007.