Chris Godwin had the franchise tag applied for the second year in a row, but he won't be playing on it for a second straight season.
Godwin and the Tampa Bay Buccaneers have agreed to a three-year deal worth $60 million, with $40 million guaranteed at signing, NFL Network Insider Ian Rapoport reported Wednesday.
A Pro Bowl receiver in 2019 prior to Tom Brady's arrival, Godwin was a focal point for the Bucs then and is a vital presence now.
Lost for the 2021 season after 14 games due to an ACL tear, the 26-year-old Godwin still produced 1,103 yards receiving, five touchdowns and a career-best 98 receptions.
When the Bucs tagged Godwin earlier this month, it was perceived that center Ryan Jensen and cornerback Carlton Davis would hit free agency and possibly leave Tampa Bay. Instead, Godwin's got an extension, Jensen re-signed just before free agency and Davis also re-signed. And, of course, Brady has unretired.
Things are presently working out for Tampa Bay, with Godwin's long-term signing also freeing up cap space, Rapoport noted.
Godwin's also poised to be a free agent again when he's 29, so the big-money deal could work out well now and then.