How Tom Brady's 1-Year Contract Extension Impacts Buccaneers' 2021 Salary Cap

Tom Brady restructured his contract with the Tampa Bay Buccaneers on Friday, adding another year under team control while clearing up cap space for the rest of the team.

ESPN's Adam Schefter broke down the effects of the new extension:

According to Jeremy Fowler of ESPN, the deal lowers his previous cap hit of $28.375 million. Tampa Bay was almost $3 million over the cap prior to the restructure, per Spotrac.

Albert Breer of The MMQB noted Brady will have close to the same salary in 2021 and 2022 as he did in 2020—$28.375 million, per Spotrac—but the changes clear up valuable space for the Buccaneers.

Tampa Bay won the Super Bowl last year, but many key players are set to hit free agency this offseason.

Even after Chris Godwin was franchise-tagged, the team could still lose pass-catchers (and Brady favorites) Rob Gronkowski and Antonio Brown. The defense could be in even more trouble with Shaquil Barrett, Ndamukong Suh and Lavonte David all unsigned.

These players represent three combined touchdowns and 2.5 combined sacks from the 31-9 Super Bowl win over the Kansas City Chiefs.

Being able to re-sign some of these players will play a key role in helping the Buccaneers remain in contention in 2021.