The New England Patriots have restructured Tom Brady’s contract, according to ESPN. The team announced the move to expedite a trade for Jimmy Garoppolo, who is set to play in San Francisco on Monday night.
The “tom brady net worth” is a topic that has been trending recently. It has been reported that Tom Brady’s restructured contract will make him the highest paid player in NFL history.
Getty Tom Brady’s deal with the Buccaneers was recently revised.
The Tampa Bay Buccaneers save salary cap money thanks to Tom Brady’s contract renegotiation, but it doesn’t offer them much power to retain him in 2023.
According to ESPN’s Adam Schefter, the Buccaneers freed up $9 million in cap space by restructuring Brady’s deal last week. According to Greg Auman of The Athletic, Brady will make up to $30 million next season as a result of the renegotiation. In 2021, the Buccaneers quarterback earned $29.4 million, according to Auman.
Brady’s last season with the Bucs might be his last, according to Schefter. His contract will expire at the end of the 2022 season, making him an unrestricted free agent in 2023. According to Auman, Brady’s contract also has a no-franchise tag provision, which means the Bucs won’t be able to retain him on the franchise tag.
Brady’s contract has a no-tag provision, which isn’t uncommon for him, according to Auman. No-tag provisions were included in both Brady’s prior Buccaneers deal and his last Patriots contract. On his first deal with the Buccaneers, Brady signed an extension until 2021.
Brady’s amended deal includes four voidable years, giving the Bucs little power to keep his rights beyond 2022. According to Auman, the Buccaneers may divide Brady’s $13.88 million roster bonus over four years to conserve salary space. Brady’s deal also includes a basic salary of $1.12 million and a $15 million deferred bonus due in 2021, according to Auman.
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Buccaneers’ Salary Cap Requirements in 2022 and Beyond
However, the Buccaneers’ wage cap problems with Brady’s deal were not solved by voidable years. According to Auman, it may cost the Bucs $35.1 million in dead salary cap money next year. If Brady does not play, the Buccaneers will have to pay that amount against the cap.
“That may be divided between 2023 and 2024 to make it more reasonable if he retires or signs an extension before March,” Auman wrote.
According to Spot Trac, the Buccaneers have $13 million in salary cap room heading into the NFL Draft and the final days of free agency. The Bucs have yet to re-sign veteran free agents Rob Gronkowski, Ndamukong Suh, and Steve McLendon, apart from signing draft selections. Gronkowski, who got $8 million in 2021, and Suh, who earned $9 million the previous year, will not be cheap this year.
On Sunday, April 24, Bucs head coach Todd Bowles stated regarding Gronkowski and Suh, “It’s up in the air right now, but I feel OK about it.” “There are still a few things to iron out, and we’ll see what the draft brings, as well as continue to work with those individuals.”
Brady’s Future with the Buccaneers Is Uncertain
Brady, 44, announced his retirement on Feb. 1 following the 2021 season, but he returned to the Bucs on March 13. His future after 2022 is uncertain, since he might retire or become a free agent.
Brady almost joined the Miami Dolphins during his retirement, according to national media experts like Mike Florio of Pro Football Talk. In addition, fellow PFT analyst Chris Simms said that the Dolphins intended to give the Bucs a second-round draft selection in exchange for Brady’s QB rights. It didn’t equal the exorbitant price of “five No. 1s” demanded by former Buccaneers head coach Bruce Arians at the NFL Combine.
During the team’s pre-draft news conference on April 19, Bucs general manager Jason Licht referred to the reports as “chatter.” The Buccaneers have yet to offer Brady a share of ownership, according to Licht.
On Tuesday, April 19, Licht informed the reporters, “No, we haven’t had such talks.” “The only time we’ve had a conversation with Tom was when he returned. We’re looking forward to this year and can’t wait to get started.”
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