Tom Brady Rumors: Bucs Can't Place QB on the Reserve-Retired List Due to Contract

Despite officially filing his retirement papers, Tom Brady's contract leaves the Tampa Bay Buccaneers in a potentially awkward position as they try to figure out their cap situation for next season.

Per Pro Football Talk's Mike Florio, the Bucs can't place Brady on the reserve-retired list because his contract automatically voids in March no matter what.

ESPN's Adam Schefter reported on Friday that Brady filed a letter to the NFL and NFL Players Association confirming his Feb. 1 retirement announcement.

The contract Brady signed with the Bucs in March 2021 included four void years from 2023-26 that allowed the team to spread out his cap hits and give them more financial flexibility to re-sign players and add talent through free agency.

As things stand right now, the Buccaneers are on the hook for a $35.1 million dead cap hit from Brady's deal next season. They are also $55.7 million over the 2023 cap with 25 players set to become free agents, not including Brady.

Florio noted one option for the Bucs would be to approach Brady about signing a one-year deal for the veteran minimum in 2023 and place him on the reserve-retired list after June 1.

"That would result in a $10.776 million cap charge for 2023, and it would push $24.328 million in dead money to 2024," Florio wrote.

This was the approach the New Orleans Saints took with Drew Brees in February 2021 before he announced his retirement the next month. The Saints officially placed him on the reserve-retired list on June 11, 2021.

Brady doesn't have to do this if he doesn't want to. It would entirely be a favor to the Buccaneers if it were to happen.

Greg Auman of FoxSports.com broke down different ways the Buccaneers can create cap space, including releasing players like Donovan Smith, Leonard Fournette, Cameron Brate and Ryan Succop and restructuring deals for Vita Vea and Carlton Davis.

Being in the same position as the Saints when it comes to cap management isn't where any team should want to be. New Orleans always manages to find ways to be cap compliant, but it comes at the expense of not being able to keep key players like Marcus Williams, Terron Armstead, C.J. Gardner-Johnson and Trey Hendrickson.

The Bucs' decision to go all-in over the past three seasons with Brady paid off. They won a Super Bowl and two NFC South titles, but the bill for all of that maneuvering is coming due this offseason.