Tom Brady, Tampa Bay Buccaneers reportedly closing in on contract extension

Jan 9, 2021; Landover, Maryland, USA; Tampa Bay Buccaneers quarterback Tom Brady (12) celebrates in the final two minutes against the Washington Football Team in the fourth quarter at FedExField. Mandatory Credit: Geoff Burke-USA TODAY Sports

The Tampa Bay Buccaneers signed Tom Brady to a contract last offseason and it resulted in a Super Bowl victory. Hoping for history to repeat itself, the future Hall of Fame quarterback could be signing a new contract with the Buccaneers this spring.

Due to the COVID-19 pandemic, the NFL lost several billions of dollars in revenue and it will lead to the salary cap shrinking for the first time in more than a decade. While the Buccaneers will have some money to spend this offseason, many of their biggest contributors from the Super Bowl run are impending free agents.

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So, to help the Buccaneers potentially repeat and to extend his historic run in the NFL, Brady could soon sign a deal that will keep him around even longer.

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ESPN’s Adam Schefter reported Monday on Get Up that there is “good momentum” in negotiations for Brady to land a contract extension from the Buccaneers in the near future. The 43-year-old is already under contract for next season, but a new deal could work out nicely for both sides.

If an extension is signed, Brady’s $29.375 million cap hit for the upcoming season would be spread out over the duration of his new contract. For the Buccaneers, who have less than $20 million in cap space, the added funds would go a long way.

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Tampa Bay is expected to place the franchise tag on star receiver Chris Godwin. While it’s an easy decision to make, ensuring the return of one of the NFL’s best receivers, it will also cost upwards of $16 million fully guaranteed. Meanwhile, linebacker Lavonte David, edge rusher Shaquil Barrett and defensive tackle Ndamukong Suh are all free agents this spring. The market will be flush with suitors and after winning a ring, all three players might also want to provide more money for their families.

A contract extension is also a no-brainer for Brady. He proved he can still play at a high level, especially late in the year. In the Buccaneers’ final four regular-season games, Brady completed 69.1% of his passes, posted a 126.9 passer rating and had a stellar 12-1 TD-INT ratio. He then went on to win his fifth Super Bowl MVP and seventh Lombardi Trophy.

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It’s only a matter of weeks before Brady and the Buccaneers agree to a deal. Once that happens, NFL fans can look forward to the greatest quarterback in NFL history defying Father Time even longer.