After reportedly failing to reach a contract extension agreement by the deadline, Tampa Bay Buccaneers wide receiver Mike Evans is poised to explore free agency. According to The Athletic, negotiations between Evans and the Buccaneers did not culminate in a deal before the set deadline.
Although Evans’ current contract is not set to expire until March 11, allowing other NFL teams to initiate negotiations with him, the Buccaneers could have saved approximately $7.4 million against their 2024 salary cap had they extended Evans by Monday afternoon. This parallels the contract structures of fellow free agents Baker Mayfield and Antoine Winfield Jr., both of whom have void years in their contracts designed to address previous salary cap constraints.
According to CBS Sports Lead NFL Insider Jonathan Jones, while all three players are effectively impending free agents, the void years in their contracts automatically expire on February 19. Consequently, any money previously deferred into future years would now count against the 2024 salary cap. However, by reaching agreements before the Monday deadline, teams could have mitigated this financial impact and deferred payments into subsequent years.
Although Evans still has the option to sign a new contract with the Buccaneers, the team had a compelling incentive to finalize an extension by Monday. With this opportunity now lapsed, Evans is on track to explore potential offers from other teams once free agency officially commences on March 11.
The future of Evans in Tampa Bay may hinge on ongoing negotiations with Mayfield and Winfield, two notable veterans also poised to enter free agency. Evans may opt to delay an extension until the Buccaneers solidify their plans for the 2024 quarterback position, particularly given Mayfield’s recent resurgence. However, financial constraints may limit the Buccaneers’ ability to retain all three players at market value.
