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Agent’s View: Examining Tom Brady’s next move and how it could affect the Pirates financially

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The most challenging season of Tom Brady’s 23-year NFL career ended Monday night when… hacker lost, 31-14, to L.J Cowboys In the wild round of the playoffs. Brady’s decision to end his short 40-day retirement to continue playing football cost him his marriage of 13 years to model Gisele Bundchen. The divorce was finalized at the end of October.

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Brady had his first losing season in the NFL. The Buccaneers won the NFC South with a poor record of 8-9.

Father Time is finally catching up to the 45-year-old. He didn’t come close to repeating his 2021 MVP-caliber campaign in which he threw for a league-leading (and career-high) 5,316 yards and 43 touchdown passes. Brady broke his NFL single-season records with 733 pass attempts and 490 completion attempts this season. He also ranked third in the league with 4,694 total yards.

Brady looked every part of his age against the Cowboys. It was arguably the worst playoff game of his career. He completed only 53% of his amazing 66 pass attempts and was fortunate to throw just one interception.

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Brady’s contract history with Boss

Brady was Not committed to his future During his post-match press conference. He stated that he would take things “one day at a time”.

Brady is set to enter free agency for the second time in his career, as his contract expires March 15. It cannot be prevented from accessing the open market. Brady’s contract contains a clause preventing the Buccaneers from hiring him as a franchise or transfer player.

The Pirates drastically changed their approach to salary cap management after signing Brady to a two-year, $50 million, fully guaranteed contract with a maximum value of $59 million with incentives as an unrestricted free agent in March 2020. Personnel moves have been made in a win-now mode consistently with little Pay attention to long range planning. Salary cap obligations were continually pushed into the future by a series of contract restructurings with multiple players, including Brady. The bill will start accruing if Brady retires.

Brady freed up $19.3 million in salary cap room for 2021 in March with a $27,941,176 one-year contract extension, helping the Pirates “keep the squad together” to try to repeat as Super Bowl champions.

The extension included three years of void/fictitious contracts (2023 through 2025), so his fully secured $20 million bonus on DAY 5 2021 on the league roster and $20 million signing bonus could be prorated over five years (until 2025). )) instead of just two years (until 2022). Each of these salary components was pro-rata divided by the maximum salary of $4 million per year for these five years.

After Brady decided to play the 23rd season, his contract was reworked again this past April. Instead of making $10,395,588 in 2022 on a cap number of $20,270,588, his compensation was bumped up to $15 million by way of a $4.5 million incentive buy in his contract.

Converted $13.88 million into a roster bonus due one day after the new contract is executed that will be distributed pro rata over the life of the contract, such as a signing bonus, while a dummy contract year/revocation of 2026 was added. on the salary cap at $2.776 million annually from 2022 through 2026. Brady’s 2022 cap figure fell to $11.896 million in the process.

How does Brady’s decision affect the Pirates financially?

If Brady retired

The Buccaneers will receive $35.104 million in dead money, a salary cap fee for a player who is no longer on the roster, if Brady retires. The dead money will consist of $12 million in 2021 to slate pro rata (2023 through 2025), $12 million in slate pro rata (2023 through 2025) and $11.104 million in 2022 to slate pro rata (2023 through 2026).

An already difficult 2023 salary cap situation will only get worse with $35.104 million in Brady dead money. Assuming the 2023 salary cap is set in the neighborhood of $225 million, Tampa Bay would have roughly $52.5 million using NFLPA data under unofficial accounting rules in which only the 51 highest salaries (i.e., the cap numbers) matter.

There is a way for Tampa Bay to get a more favorable treatment with Brady’s retirement. Brady and the Buccaneers will need to adjust his contract so that his 2023 fictitious/nullify contract turns into a real contract year with a minimum of $1.165 million in base salary in compensation. The cancellation date for the 2024 to 2026 contract can be moved from the last day of the 2022 league year (March 15) to the last day of the 2023 league year, or those three years can be rolled over to true contract years instead.

The Pirates will hold Brady at his new cap number of $11.941 million for 2023 through June 2 when his retirement is processed and his base salary of $1.165 million will be off the books. By waiting until June 2, the Pirates will be able to split that $35.104 million in dead money into $10.776 million in 2023 and $24.328 million in 2024. The $8 million bonus from the 2021 bonus list from 2024 and 2025, and a signing bonus amounting to $8 million. With respect to 2024 and 2025, in addition to the estimated $8.328 million bonus for 2022 attributed to 2024 through 2026, it will not hit the Tampa Bay salary cap until 2024.

If Brady signed with another team

Playing Brady’s 24th season for another team would be the least desirable outcome for the Pirates from a salary cap standpoint. There would be no way to avoid the $35.104 million in Brady’s dead money being a fee in 2023. The remaining $24.328 million bonus related to his fictitious contract years from 2024 to 2026 will hit Tampa Bay’s 2023 salary cap on March 15 when this years are void.

the Raiders They are the team most visible to Brady due to connection Josh McDaniels and quarterback Derek Carr It is either traded or released. McDaniels was Brady’s head coach and/or offensive coordinator for 13 of his 20 seasons with the team. Patriots. CBS Sports NFL writer Cody Benjamin has been slated Several potential Brady landing sites Earlier this week if he decided to continue playing soccer.

If Brady returns to Boss

The Pirates reportedly want Brady back if he continues to play. In Brady’s return to Tampa Bay, a deal is likely to be reached a day or two before the current league year ends on March 15, so the Buccaneers could avoid the $35.104 million cap fee from Brady’s fictitious contract years voiding.

The Brady’s 2023-2026 invalid earns a base salary of $30 million. $30 million for 2023 would be in line with the $87,795,588 Brady made from NFL player contracts during his three years with the Pirates, which averaged just over $29.25 million annually.

$28.835 million of the $30 million fully guaranteed roster bonus is due two days after the new contract is signed, leaving Brady with a base salary of $1.165 million, the league minimum. The base salary will remain at $30 million for 2024 and 2026 while a 2027 contract year of $30 million could be added. These four years may be voided on the last day of the 2024 league year. Brady’s non-trade clause and language prohibiting the franchise or transfer tag that was present in other Buccaneers’ contracts will continue to be included.

The $28.835 million will be pro-rata divided by the salary cap at $5.767 million annually for five years (2023 through 2027). Brady’s cap figure for 2023 will be $17.708 million. The components will be Brady’s base salary of $1.165 million, $4 million of 2021 roster bonus, $4 million of pre-existing signing bonus, $2.776 million of relative bonus for the 2022 roster and $5.767 million of new bonuses.

Brady prefers a bonus based bonus over a signing bonus. The Pirates will not have recovery rights for any type of breach of contract, including retirement, after 2023 in the league with roster bonus.

The big drawback to having as much Brady compensation for 2023 as possible prorated is that there will be $23.068 million in new dead money with Brady retiring after the 2023 season. The Buccaneers will have $47.396 million in dead money to deal with that will likely be Break it down to $16.543 million in 2024 and $30.853 million in 2025.

Final thoughts

No matter what Brady decides to do, he’s going to be fine. Brady ended his career as it was pretty clear that sticking around for too long was not going to diminish his legacy. He would remain a confirmed first ballot Hall of Famer and the greatest quarterback to ever play.

Brady already has a major makeover after job. He will become Fox Sports’ lead analyst on NFL games and act as an “ambassador” for the network with a focus on “customers and promotional initiatives” once he permanently cuts his boots.

Brady’s deal is said to be worth $375 million over 10 years. It is the most lucrative contract in sports broadcasting history. Brady’s contract with Fox Sports is worth more than he’s made from contracts of NFL players. None of Brady’s NFL player contracts averaged $37.5 million per year as his broadcast deal.

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