Tom Brady, Buccaneers Agree to Contract Extension to Save Salary Cap Space: Report

Report: Tom Brady, Bucs agree to contract extension to save salary cap space originally appeared on NBC Sports Boston

The 2021 NFL offseason is kicking into high gear with a pair of former MVP quarterbacks both agreeing to new contracts.

The New England Patriots reportedly are bringing back Cam Newton on a one-year deal worth "close to $14 million" with incentives.

Former Patriots quarterback Tom Brady has agreed to a four-year contract extension with the Tampa Bay Buccaneers, according to ESPN's Adam Schefter. However, it's really a one-year extension with three voidable years that saves the Buccaneers a whopping $19 million in salary cap space. 

The Tom-Brady extension saves the Buccaneers $19 million against the cap this year, per sources. The additional voidable years are there to defray the cost. It was another effort from Brady to keep as much of the team together as possible. https://t.co/65qAGO5Px7

— Adam Schefter (@AdamSchefter) March 12, 2021

The salary cap savings are very important for the Bucs as they try to bring back most of the roster that won Super Bowl LV over the Kansas City Chiefs in Brady's first season with Tampa Bay.

Curran: Newton at least provides Pats with answer to 'Who's your QB?'

Two of Brady's top weapons in the passing game -- wide receiver Antonio Brown and tight end Rob Gronkowski -- are both unrestricted free agents. One of the team's best defensive players, linebacker Shaq Barrett, also is an unrestricted free agent.

The Buccaneers were about $7 million over the salary cap before this Brady extension, per Rick Stroud of the Tampa Bay Times.

Brady's new extension also keeps him in Tampa Bay through the 2022 season. He will be 44 years old in Week 1 of the upcoming season.