After retiring and un-retiring, TB12 is back for more. Boardroom looks at the numbers behind the Bucs’ latest Tom Brady contract.
What do you do for the player who’s accomplished more than anyone who’s ever played his sport? Apparently, the answer is to let him play as long as he desires. Tampa Bay Buccaneers quarterback Tom Brady has decided to return for a 23rd season in the NFL and a third with the team on a fully guaranteed one-year, $15 million contract.
At almost 45 years old, Brady is the oldest player in the NFL by more than half a decade, yet he remains one of the most productive, leading the league in passing yards last season. And even though he has a lucrative broadcasting deal with FOX waiting on him when he does stop playing football — one that will pay him more than his total career NFL earnings over the life of it — that will wait at least one more year.
Boardroom takes a look at the numbers behind the Bucs’ Tom Brady contract.
Tom Brady Contract Details & Salary
Total value: 1 year $15,000,000
Effective compensation: $30,000,000
NOTE: Brady’s deal is officially a one-year extension, but is more accurately a restructure of the two-year contract that was still active when he retired. He now makes $15 million in new money, plus a $15 million bonus that dates back to the 2021 season, as insider Greg Auman explains:
Base salary: $1,120,000
Guaranteed at signing: $15,000,000
Dead cap hit: $47,000,000
Free agency: 2023
While Brady did un-retire this offseason, it can be assumed that he will officially hang it up relatively soon (…right?). While he is still around, however, Brady remains the master of stretching his contract to afford his team more salary cap flexibility. By restructuring the money he already had on the books when he retired, Brady will:
- Earn just over $1 million in base salary
- Earn almost $29 million in bonuses, a majority of which is deferred bonus roster bonus money from 2021
- Count just $11 million against the salary cap
- Receive a no-tag clause for 2023 if he chooses to return
- Count for $35 million in dead cap money starting next next year due that can be stretched out through 2026 for cap savings
Tom Brady’s Career Earnings
CAREER BASE SALARY $67,480,705
CAREER SIGNING BONUSES $176,168,500
OTHER BONUSES AND INCENTIVES:
TOTAL SALARY EARNINGS THRU 2022 SEASON: $332,962,392