The G.O.A.T. is getting a contract extension.
NFL Network Insider Ian Rapoport reported Friday that Tom Brady and the Tampa Bay Buccaneers have agreed to terms on a one-year contract extension that will take him through the 2022 season, per sources informed of the situation. Brady posted an image of him signing a contract, confirming the deal, and the team followed shortly thereafter by announcing the extension.
Brady's new contract with the Bucs is another two-year, $50 million deal, but $41.075M is due in 2021 and just $8.925M in 2022, NFL Network's Tom Pelissero reports, per sources. The deal includes postseason incentives and there are three voidable years, lowering his cap number in 2021 to $9.075M. Brady's cap hit before the extension was at $28.375M.
The total cap savings in '21 for the Bucs is $19.3M with the new deal. That pushes $32M in dead money into future years and the cash flow sets the stage for another new deal in '22 since there's no indication Brady is going anywhere, according to Pelissero.
Brady, who turns 44 years old in August, has long discussed playing beyond age 45. The extension keeps him in Tampa through that eventuality.
Bucs general manager Jason Licht had been discussing a potential Brady extension ever since Tampa waltzed off its home field with the Lombardi Trophy in early February.
A new deal makes sense for both parties. TB12 has plenty left in the tank, has expressed zero desire to retire and enjoyed his first season under Bruce Arians in Tampa. The Bucs finally stabilized the QB position and wanted to keep their team leader and free-agent magnet in-house beyond the 2021 season.
Brady's new deal could go a long way in helping the Bucs retain free agents like high-priced pass-rusher Shaquil Barrett and tight end Rob Gronkowski or attract other veterans who want to chase a Super Bowl ring with the winningest QB of all time.
