Updated at 1:55PM EST to include 2019 cap savings and Smith salary.
It is being reported by ESPN’s Adam Schefter that the Bucs front office and LT Donovan Smith have agreed to terms on a new deal.
Buccaneers are giving OT Donvovan Smith a 3-year, $41.25 millon deal, including $27 million fully guaranteed at signing, per source.
— Adam Schefter (@AdamSchefter) March 5, 2019
A deal that is worth $13.75 million per year on average, and $12.5 million in 2019.
This deal comes on the heels of the 4pm deadline to submit any franchise tag sheets. It was previously reported that Tampa Bay would franchise tag Smith until a long term deal could be put in place in the coming days.
Instead, the Bucs and Smith have avoided the tagging process, and now have a deal to keep the reliable LT in Tampa for the long term.
Interestingly enough $14.25M of Smith deal is incentive based. Which provides a bit of security for the Bucs if Smith doesn’t reach some of those incentive goals.
Bucs Free Up $1.6M In Cap Space
With this long term deal in place, the Bucs save just under $2 million in cap space. He will earn $12.5 million in 2019 per Greg Auman of the Athletic.
Bucs free up $1.6 million in cap space with Donovan Smith extension instead of franchise tag — he’ll earn $12.5 million in 2019, vs. $14.1m with tag …
— Greg Auman (@gregauman) March 5, 2019
Interestingly enough this deal, frees up the Bucs use of the franchise tag to use on another player if they choose to do so.
With this deal, the Bucs could possibly focus their attention in other areas to utilize their 1st round pick. Linebacker, defensive end, running back, and RT/RG are areas of need for the Bucs right now.
Stay tuned to BucsReport.com as this story is updated.