Tampa, Florida - Tom Brady has agreed to restructure his contract with the Tampa Bay Buccaneers.

Brady announced his retirement earlier this year, only to perform a sensational U-turn on that decision last month to re-sign with the Bucs, whom he led to a Super Bowl success at the end of the 2020 season.

There had been rumors that the Bucs were set to hold discussions with the 44-year-old seven-time Super Bowl champion over potentially tying him down beyond the 2022 season, though general manager Jason Licht quashed that speculation.

Tampa have, however, managed to restructure Brady's existing deal to create over $9 million of salary cap space ahead of next week's NFL Draft.

ESPN's Adam Schefter reported the news on Friday, citing league sources. According to Schefter, the move has more than doubled the Bucs' salary cap space.

However, Brady is still set to become a free agent at the end of the season despite the restructuring.

Brady passed for more yards (5,316) than any other quarterback in the NFL across the 2021 regular season, registering a league-high 43 touchdown passes. His completion percentage of 67.5 ranked ninth.

The Tampa Bay Buccaneers reached the postseason, but lost to eventual Super Bowl winners the Los Angeles Rams.