TAMPA, Fla. — As expected, the Bucs have restructured quarterback Tom Brady’s contract, freeing up significant salary-cap space with less than a week remaining before the 2022 draft.
The restructure, believed to be in the works for some time, creates roughly $9 million in cap space. Specifics weren’t immediately available.
Brady, who turns 45 in August, still will be a free agent following the season.
Brady originally signed a two-year, $50 million deal with the Bucs in March 2020, before signing a one-year extension a few weeks after leading Tampa Bay to a 31-9 rout of the Chiefs in Super Bowl 55. The extension allowed the Bucs to gain $19 million of salary-cap room in 2021 with three voidable years, helping enable the team to retain every Super Bowl starter.
At that point, the deal left Tampa Bay with $24 million in dead cap money for 2023.
The team has begun its offseason program under new coach Todd Bowles, but Brady isn’t expected at AdventHealth Training Center until the team’s mandatory three-day minicamp in early June.
“It’s voluntary right now,” general manager Jason Licht said Tuesday. “He’s going into his 23rd season; he obviously knows how to take care of himself. During this voluntary portion, I just know he and Todd have had several conversations about that. So, no worries whatsoever.”
