According to Schefter, the Buccaneers will pick up $19 million of cap space with this move. Brady is now under team control through the 2022 season.
Recent reports had said that the Buccaneers and Brady were making progress on an extension to lower his $28.375 million cap figure this year while creating some much-needed cap room to help Tampa Bay keep their roster intact.
Brady’s deal was set to expire following the 2021 season. His goal for a while has been to play until he’s 45 but he recently expressed an interest in potentially playing longer.
The future Hall of Famer will turn 45 just before the start of the 2022 season but it sounds like as long as he stays healthy and doesn’t slow down that playing for even longer could be on the table.
Brady, 43, is a former sixth-round pick of the Patriots back in 2000. He was in the final year of his two-year, $41 million contract when he agreed to another two-year extension in 2017.
Brady made $23 million for the 2019 season and was testing the open market as an unrestricted free agent last offseason when he agreed to a fully guaranteed two-year, $50 million deal with the Buccaneers.
In 2020, Brady appeared in all 16 games for the Buccaneers and threw for 4,633 yards, 40 touchdowns and 12 interceptions. He also rushed for six yards and three touchdowns.