Sources told Adam Schefter and Jenna Laine on Wednesday that Chris Godwin reached an agreement on a three-year, $60 million deal that includes 40 million fully guaranteed at signing.
The Bucs were able to lower his first-year cap hit to just $5 million by adding void years to the deal, lowering it from the $19 million he would have commanded with the tag.
The veteran wide receiver was given a franchise tag for the second year in a row. The sides had until July 15 to agree to a long-term contract, or Godwin would have played the 2022 season on a franchise tender worth $19.18 million.
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 had surgery to repair an injury after he turned 26. The coach said at the combine that he had no concerns about the receiver bouncing back from the injury.
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 was placed on him last year, instead of a new contract, because the two sides couldn't agree on a new deal. Over the past three seasons, Godwin 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.