Getty Tom Brady has no plans to retire after the Super Bowl.
Tom Brady is now signed with the Tampa Bay Buccaneers through 2022 as the quarterback is inking a one-year contract extension, per NFL Network’s Ian Rapoport. CBS Sports’ Jason La Canfora previously reported the Bucs and Brady were considering a three-year extension, but the quarterback opted for a shorter deal.
“The Bucs have agreed to terms on a 1-year extension for QB Tom Brady, sources say, one that gives the Super Bowl champs some cap room and locks Brady in 2022,” Rapoport explained on Twitter.
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The Final 3 Years of Brady’s Contract Are Voidable to Help the Bucs Create Cap Space for 2021
Brady signed a two-year, $50 million deal with the Bucs last offseason and now has the option of playing in Tampa at least through 2022. ESPN’s Adam Schefter reported Brady’s new contract is technically a four-year extension but the final three seasons are voidable. This allows Brady’s money to be spread out over four years, but for all intents and purposes, the quarterback is under contract for two more seasons.
“Tom Brady reached agreement with the Buccaneers today on a four-year contract extension that voids to a one-year extension that locks him into Tampa through the 2022 season, sources tell ESPN,” Schefter tweeted. “The Tom-Brady extension saves the Buccaneers $19 million against the cap this year, per sources. The additional voidable years are there to defray the cost. It was another effort from Brady to keep as much of the team together as possible.”
Brady Is Reportedly Not Receiving a Raise in His New Deal
The full salary details of Brady’s new contract have not been released, but NFL Network’s Tom Pelissero indicated the money will likely remain at his current rate of $25 million annual average. The money is being moved around to give the Bucs the best chance to re-sign key free agents.
“The belief is Tom Brady didn’t ask for a raise even after winning another Super Bowl,” Pelissero explained on Twitter. “His original deal was two years, $50 million plus incentives. This tacks on another year through 2022, plus voidables designed to help the #Bucs’ cap and try to keep their core together.”
Brady Wanted to Help the Bucs ‘Retain Great Players’ Heading into Next Season
La Canfora provided a bit of context as to why Brady wanted to sign an extension. Aside from ensuring he is with the Bucs for at least two more seasons, Brady wanted to help the front office “retain great players.” The Buccaneers still have some work to do with Shaq Barrett, Antonio Brown and Rob Gronkowski among the key players set to hit free agency next week.
“As one source put it, the thrust of this is about ‘doing what he can to help retain great players and build a foundation for more success,’” La Canfora added. “It’s about creating a salary strata where other players in their prime can continue to cash in, with the team that drafted them, while Brady helps steward them to more deep playoff runs. …They could give him $20M-plus in a bonus and spread it over four years (if three new years are added on) and have enough to keep multiple players right there. That’s where this is headed. And I suspect Brady, if three new years are added, fulfills that contract.”
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Tom Brady’s New Contract With the Buccaneers Revealed: Report