The renegotiated contract between the Tampa Bay Buccaneers and quarterback Tom Brady will free up over $9 million in salary cap space for the Buccaneers in time for the 2022 NFL season.
Even though it will cause salary cap problems in the future, the Bucs made yet another move to help them win another Super Bowl with Brady.
In what ways did the Bucs free up salary cap space this season, and how might that affect the team’s finances going forward?
From Greg Auman of The Athletic, here are all the dollar amounts involved in Brady’s new contract:
How Much Does Mr. Brady Earn Each Year?
The sum of Brady’s base salary and bonuses in 2022 falls short of his previous earnings. His base salary is low at $1.12 million per year, but his roster bonus of $13.88 million divided over five years is quite generous.
Compared to his last contract, in which he was guaranteed $25 million in 2021, this is a significant pay cut for Brady.
According to ESPN’s Adam Schefter, Brady and the Buccaneers reworked his contract in order to free up $9 million in salary space in advance of the NFL Draft.
The Buccaneers and Brady agreed to a two-year, $50 million contract in 2020, and the two sides signed a one-year extension before the 2021 season.
However, the 44-year-old Brady is set to earn “only” $15 million in 2022 after he and the Bucs decided to restructure his contract, which is far less than his real on-field value. Yet, he also has a $15 million bonus from 2021 that will be paid out in installments starting in 2022.
Must Read: Ndamukong Suh Net Worth 2022: Look At This Person’s Fortune In This Year!
Tom Brady’s Contract Details
Brady’s original contract with the Buccaneers was for two years and $50 million. His original contract was set to expire in 2021, but he signed a one-year extension for $25 million more to keep him under contract for another year.
The empty years in Brady’s contract are a growing trend that helps teams free up salary room now. While the Buccaneers will continue to pay Brady during the void years, he will not be officially under contract with the organization until he signs a new deal.
Although Brady’s average annual salary is $25 million, after the Buccaneers altered the contract, Brady will earn more than $40 million that year. This is due to the fact that Brady will receive the bulk of his signing bonus in 2021.
In spite of this, Brady’s cap charge is only $10.5 million this year because of the void years.
Incentives For Individuals (Up To $2.25 Million Annually)
Recently, Brady’s representatives have made sure that his contracts include incentive pay. In 2021, Brady earned $1.125 million as the league’s leading passer in touchdown passes (43) and passing yards (5,316).
In 2021, Brady could have received incentive pay of up to $2,812,500. In order to obtain that sum of money, he had to accomplish the following:
- Top five in touchdowns thrown (or 25 passing touchdowns)
- Top five in passing yards
- Top five in passer rating
- Top five in completion percentage
- Top five in yards per pass attempt
Must Read: Jerry Jones Net Worth 2022: A Deeper Dive Into The Working Career, And Way Of Life In The Year 2022!
Pro Football Hall Of Fame Quarterback Tom Brady’s Income
In his 20 years with the Patriots, Brady earned an estimated $235 million, or $11.758 million per year, as reported by Spotrac. He will add approximately $82 million to his NFL career earnings by playing for the Buccaneers in 2020, 2021, and 2022.
Spotrac provides the following breakdown of each of his contracts:
- 2000: 3-year $865,000 contract
- 2002: 4-year, $29.625 million extension
- 2005: 4-year, $42.8 million contract
- 2010: 4-year, $72 million extension
- 2013: 3-year, $27 million restructured extension
- 2016: 2-year, $41 million extension
- 2018: 2-year, $30 million restructured contract
- 2019: 1-year, $23 million contract extension
- 2020: 2-year, $50 million contract
- 2021: 1-year, $25 million extension
- 2022: 1-year, $15 million extension
FAQs – People Also Ask
Who’s the highest-paid NFL quarterback?
It was possible that Patrick Mahomes, star quarterback for the Kansas City Chiefs, was the best of the best at the start of March. But Aaron Rodgers, the reigning NFL MVP and star quarterback for the Green Bay Packers earned more money. Russell Wilson, the new quarterback for the Denver Broncos, has done the same thing.
Who is the most paid NFL player?
Kicker Justin Tucker of the Baltimore Ravens was given a four-year agreement with $17.5 million in guaranteed money, while defensive lineman Aaron Donald of the Los Angeles Rams was given a market-busting $31.6 million over the next three seasons.
For More Interesting Updates You Can Visit Our Website: Velvetiere
