The Bucs and star receiver Chris Godwin made a pretty significant move recently. And it signals the two sides are on their way to an extension that will keep him in Tampa Bay for another few years. Godwin’s previous contract was due to void on February 17. Greg Auman of Fox Sports was the first to report the news.
Chris Godwin’s current contract was due to void, triggering $18 million in dead money against the Bucs’ 2025 cap, but the two sides agreed to move that void date to the final day of the league year (March 12). Buys them time to work out a new deal and keep some 2025 cap savings.
— Greg Auman (@gregauman) February 19, 2025
Bucs WR Chris Godwin – Photo by: USA Today
That void would have accelerated the remaining dead salary cap charges on his contract to 2025 resulting in an $18,852,000 charge for next season. Instead, Tampa Bay and Godwin have agreed to push back the void date to March 14th. This gives the two sides additional time to work out an extension that would prevent those dead cap charges from accelerating.
Bucs And Godwin Headed For New Deal
If the two sides are able to work out an extension before March 14th, $11,318,000 of the dead cap charge moves ahead into future years. The team can reallocate those cap savings to the new deal they put in place with Godwin. This isn’t the first time the Bucs have used mechanisms to give themselves additional time to work out the right deal with Godwin. In 2022, the team franchised tagged him for the second consecutive year to buy time to finalize what would become a three-year, $60 million extension with their star receiver.
Bucs WR Chris Godwin – Photo by: USA Today
Due to that, and the franchise tag they placed on him the year prior that prevented the team from considering the tag as a possibility this year, lest they commit around $41 million to the receiver.
It has long been speculated that both sides were interested in a new deal, but this is the first concrete step that has been reported to that conclusion.
Godwin is coming off of a stellar season cut short by a devastating injury. Through the first seven games of the season Godwin had amassed 50 catches, 576 yards and five touchdowns. He was the league leader in receptions when he dislocated his ankle late in a loss to the Baltimore Ravens. That injury would rob Godwin of the rest of his season and significantly reduce his asking price for his next deal.
Fans should see this as a strong signal the two sides will be actively working to a new deal over the next 24 days. Current public projections place Godwin’s value at around $19-20 million per year on a three-year deal most likely.
