Buccaneers Free Up Cap Space, Rework Wide Receiver's Contract

The Tampa Bay Buccaneers have reportedly restructured the contract of wide receiver Russell Gage in an effort to create additional salary cap space for the 2023 season.

According to NFL Network's Ian Rapoport, Gage has agreed to adjust his base salary for 2023 from $10 million to $7 million, while also fully guaranteeing his payment for that season.

The #Bucs and WR Russell Gage reworked his contract to create space for the team, taking his 2023 base base from $10M to $7M -- now fully guaranteed -- with a chance to hit reasonable incentives and earn it back, sources said.

— Ian Rapoport (@RapSheet) March 12, 2023

Bucs' path from $57 million over salary cap to today's compliance:

cutting Donovan Smith ($9.95m savings)
restructure Chris Godwin ($15.14m)
restructure Carlton Davis ($10.74m)
restructure Vita Vea ($9.14m)
restructure Ryan Jensen ($9.07m)
rework Russell Gage (~$7.44m)

— Greg Auman (@gregauman) March 12, 2023

Additionally, Gage's new contract includes multiple salary incentives, which will provide him with the opportunity to earn back some of his previous salary.

The move comes after Gage's limited role in the Bucs' offense last season, despite expectations for a breakout year. The team signed veteran Julio Jones last summer, which ultimately impacted Gage's playing time. In 13 regular season games, Gage caught 51 of his 70 targets for 426 yards and a career-high five touchdowns.

By restructuring Gage's contract, the Buccaneers are aiming to create some cap relief, as they continue to navigate their financial situation.

The 27-year-old Gage is entering his sixth NFL season, having spent five of those years with the Atlanta Falcons.
Photo Credit: Nathan Ray Seebeck-USA TODAY Sports