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Report: Tom Brady extension creates $19 million in 2021 cap space

Tom Brady kept his salary at a manageable level for most of his career to help the Patriots add talent around him. Could he do the same with the Buccaneers this offseason?

The Buccaneers are robbing Peter to pay Paul, but they’re still paying Tommy.

Adam Schefter of ESPN reports that Buccaneers quarterback Tom Brady’s contract extension creates $19 million in 2021 cap space.

This implies that Brady dropped his $25 million in 2021 compensation to the minimum salary of $1.075 million, converting the balance to a signing bonus. With a four-year extension (the final three years are voidable), the $23.925 million signing bonus gets divided into five total years. For this year, the cap number becomes $4.785 million (20 percent of the signing bonus) plus $1.075 million.

That results in a total cap savings of $19.14 million.

This also means Brady isn’t getting more money for 2021. His terms for 2022 aren’t known. It is known, however, that $4.785 million of his 2021 cap charge will apply in 2022. It also means that the three phony years will trigger, eventually, a cap charge of $14.355 million.

Still, with the cap dropping this year, it makes sense to push that money into future years, when the cap will be up -- and relatively speaking the cap dollars will mean less.