The Tampa Bay Buccaneers have created some much-needed salary cap space by restructuring the contract of quarterback Tom Brady.
ESPN's Adam Schefter reported Friday that Brady's new-look deal opened about $9 million in cap space for the Bucs. Brady is still eligible to become an unrestricted free agent next offseason.
Brady, who briefly retired in February, will enter his third season with the Buccaneers in the fall.
He led the Bucs to a Super Bowl LV title in his debut season with Tampa Bay. The Bucs were less successful last season, losing to the eventual champion Los Angeles Rams in the NFC Divisional Round, but Tampa Bay did win its first NFC South division title since 2007.
Despite the fact that he'll turn 45 on Aug. 3, Brady remains one of the top quarterbacks in the NFL. He's actually coming off one of his best statistical seasons.
The seven-time Super Bowl champion completed 67.5 percent of his passes for a career-high 5,316 yards with 43 touchdowns and 12 interceptions in 17 games.