Former New England Patriots quarterback Tom Brady has officially signed with the Tampa Bay Buccaneers in NFL free agency, and the financial details of the 42-year-old's deal are beginning to surface.
ESPN's Adam Schefter reported Friday that Brady's contract is a two-year pact with $50 million in guaranteed money. Here are the other details:
Updated: Tom Brady's contract details with Tampa, sources tell ESPN: 2 years, $50 million deal, all guaranteed, that also includes another $9 million in incentives - $4.5 million in incentives per year. The contract also prohibits tags and trades.— Adam Schefter (@AdamSchefter) March 20, 2020
ESPN's Field Yates provided a further breakdown:
Further details on Tom Brady's deal:— Field Yates (@FieldYates) March 20, 2020
2020 base: $15M
2020 RB: $10M
2021 base: $15M
2020 RB: $15M
Each year there is $2.25M in incentives tied to finishing top 5 in various passing categories
Each year there is $2.25M incentives tied to playing time/playoff success.
For many years Brady signed team-friendly contracts with the Patriots, which helped the team build a championship-caliber roster around him. It was beneficial for both sides, to say the least, as the Patriots won six Super Bowl titles during Brady's 20 years in New England.
In this contract with the Bucs, Brady has secured a huge amount of guaranteed money. Here's more context from Sports Illustrated's Albert Breer:
Buccaneers QB Tom Brady's two-year deal has a base value of $50 million, source confirms. That's actually less than the Patriots' extension offer last year ... BUT (this is a big but) the $50 million from Tampa is FULLY guaranteed.— Albert Breer (@AlbertBreer) March 20, 2020
Incentives can bring Brady to $59 million.
The veteran quarterback led the Patriots to an 11-5 record last season, during which he completed 60.8 percent of his passes for 4,057 yards with 24 touchdowns and eight interceptions. Brady should post even better stats in Tampa Bay next season when he's surrounded by plenty of top-tier offensive talent, most notably wide receivers Mike Evans and Chris Godwin, as well as tight end O.J. Howard.
Brady's decision already is having an impact in the sports betting community. Oddsmakers have given the Buccaneers the fifth-best odds to win Super Bowl LV, which will actually be played in Tampa Bay's home arena, Raymond James Stadium.