3:25 PM ET

A source told ESPN on Tuesday that the Buccaneers placed a franchise tag on veteran wide receiver Chris Godwin.

There is a chance that a long-term deal could be done before the legal tampering period begins on Monday. A source said the deadline was at 10:00 am. He will get $19.18 million. Sources said that the two sides were working on a new contract.

In the Week 15 loss to the New Orleans Saints, Godwin suffered a torn knee cap. He finished the season with a team-leading 1,103 receiving yards and 98 catches.

Godwin underwent surgery to repair his injury in the off-season, but his coach said at the NFL combine that he has no concerns about his ability to bounce back.

I don't think that will be a problem at all, because I know Chris and the way he works, and those guys are coming back faster and faster now.

The franchise tag, worth $16 million, was placed on him last year, instead of a new contract. Over the last three seasons, he has racked up 3,276 receiving yards, which is eighth most in the league, while his 249 catches rank 10th and his 21 touchdown are 12th.

He has 343 catches for 4,643 yards and 29 touchdown in five seasons.