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Report: Bucs, Penn finally working out a long-term deal

The Buccaneers haven’t been spending much money of late. And when it comes to left tackle Donald Penn, the team has been dragging out the process, using the restricted free agency tender for two straight years.

Well, the Bucs finally have decided to make a long-term commitment to their franchise left tackle.

Jason La Canfora of NFL Network reports that Penn and the Bucs have agreed to the parameters of a long-term deal. Penn and his agent are headed to Tampa to finalize the process.

The news comes amid a report from NFLN’s Warren Sapp (via La Canfora) that defensive tackle Gerald McCoy, the third overall pick, is on his way to Tampa in the hopes of working out his rookie deal.

As to Penn’s deal, we’ll go out on a limb and guess that the contract includes guaranteed dollars in the form of base salary, with little or no money paid in the offseason via roster or option bonuses, when cash flow is much lower than it is during the season. The Bucs have been notorious of late about avoiding big-money payments in the offseason, which has done nothing to quiet rumors that ownership is spread thinner than a small square of butter over an entire loaf of bread.