MARCH 5, 11:24am: The upfront payout will be critical for Evans, because this contract will carry a base value of $41MM, Pro Football Talk’s Mike Florio indicates. Of that $41MM, $29MM is fully guaranteed. The contract guarantees Evans $6MM of his 2025 salary at signing and an additional $6MM comes in the form of an injury guarantee. The other $6MM of Evans’ 2025 money is nonguaranteed.
This still represents a nice third contract for Evans, though it is interesting, given the drama that came when Evans set a hard negotiating deadline late last summer, it was enough to keep him off the market.
MARCH 4, 9:35pm: We’ve got some more details on Evans’ new deal with the Buccaneers. Greg Auman of FOX Sports says the $52MM total represents the maximum value, meaning the receiver will likely have to earn a chunk of that money via incentives. Meanwhile, ESPN’s Jenna Laine passes along that Evans will earn $29MM of his $35MM guarantee in the first year of the two-year pact.
8:15am: Instead of testing the market next week, Mike Evans will remain in Tampa Bay on a new pact. The veteran wideout has agreed to a two-year Buccaneers contract, per his agents (via Mike Garafolo of NFL Network).
ESPN’s Adam Schefter adds that the contract is worth $52MM and includes $35MM guaranteed. Evans had been linked to an asking price of $25MM per season, and he has managed to land it without needing to reach free agency. Projected to be one of the top available wideouts on the market, he will now be able to continue his decorated Bucs tenure for an 11th and 12th season. 
As Garafolo notes, Tampa Bay’s urgency to get a deal hammered out picked up in recent days, with the franchise tag deadline and the start of free agency not far away (video link). The team still has agreements with quarterback Baker Mayfield and safety Antoine Winfield Jr. to work out, but one major piece of business has now been taken care of.
Evans was expected to at least gauge his market next week once the new league year began. That update came as little surprise given the gap which continued to exist between team and player during negotiations, something which dated back to last summer. Talks were shut down once the 2023 campaign started, and signs pointed to the five-time Pro Bowler facing the possibility of heading elsewhere. Now, though, he has secured one of the most lucrative WR pacts in the league in terms of annual average value while remaining in place.
This $26MM-per-year agreement will slot Evans behind only Tyreek Hill, Davante Adams and Cooper Kupp in terms of AAV. The short-term nature of the pact will help Tampa Bay aim to keep its offensive core in place for the time being while preventing a lucrative investment deep into Evans’ 30s. The uber-consistent producer is entering his age-31 season, but his ability to continue delivering 1,000-yard seasons (as well as his chemistry with Mayfield) should make this a relatively safe proposition for the Bucs.
The Texas A&M product recorded 1,255 yards in 2023, Mayfield’s first in Tampa Bay. That figure was his highest since 2018, and – coupled with a league-leading 13 touchdown receptions – it no doubt helped boost his value on a third contract. Evans landed a five-year, $82.5MM pact in 2018, and he has to no surprise secured a much larger AAV on his latest deal given the receiver market’s jump in value and the length of this new contract. The 2018 deal included only $3MM more in guaranteed money at the time of signing, so today’s news is certainly a success from his perspective.
Schefter notes the Chiefs were expected to be among the suitors for Evans if he had reached the open market. A number of other teams would have been interested as well, though few serious suitors likely would have had the means of reaching his asking price if he had landed a similar or more valuable contract than this latest Bucs one. The list of high-end wideouts set to reach free agency next week has now been notably shortened.
Tampa Bay’s offense lost coordinator Dave Canales this offseason when he took the Panthers’ head coaching gig. While the unit will face questions related to its ability to replicate Canales’ success, having Evans in the fold will give the Buccaneers a familiar and consistent option in the passing game. The team can now turn its attention to getting a Mayfield deal on the books before the new league year begins in a bid to keep his partnership with Evans intact moving forward.
Good for him. He deserves it.
I agree. Everything I hear about him and his wife, they are standup people int he community. Nice to see a HoF’er retire w/ one team these days.
Well deserved. Thought we could finally get him out of our division though lmao
Worth it and 2 years is reasonable, if he is still posting 1000yds or being a dominate red zone guy he can still get paid again.
Seems like the best outcome. Nice for him to stay in Tampa, it’s short enough that the rate is more reasonable, and who better to give him a big pay bump than the team that had him for below market rate the past few seasons, including a Super Bowl win.
This seems reasonable
I am assuming Baker Mayfield will be signing soon as well
Fools and their money are soon parted. At least the Bears weren’t that stupid for a change.
Yes, signing a future hall of famer with plenty in the tank to a 2 year deal when he has has never had fewer than 1000 yards in any of his 10 seasons and has had double digit TDs in 5 of them makes TB “fools.”
One of the worst takes on this website in the past 3 months.
Evans had 13 TDs last year. The Bears haven’t had a WR catch 13 TDs in 53 years (Dick Gordon in 1970).
Nonsense, we don’t question paying record contracts to elderly WR’s on teams destined to miss the playoffs.
They’re destined to miss the playoffs, Bill? Why is that? They just won the division. There is plenty of opportunity for them to do it again.
Also, Evans will go into next season at age 30 and turn 31 during the year. It’s not like he’s 37 or up. He’ll be productive for the foreseeable future, barring injury.
I really hate to have to remind a fellow Bears fan how much our team wasted on former Buc Mike Glennon. That was pretty much the definition of “stupidity”.
LOL Unclemike getting roasted for this take
Unclemike has good insights on many occasions but sooner or later everyone fumbles the ball in this forum.
Evans will have a hamstring strain for most of that contract. I’m not worried about vindication at all. Cue- The injury. It’s inevitable with this guy. Lemon the Glennon thing is ancient history so you should let it go. Claypool would be a much more relevant stupid deal. The Glennon fools aren’t here anymore. Or you could complain about Davis. That would pay for a FA C if they could get rid of him.
Why would a Bears fan criticize any other teams wide receivers? Or spending habits?
Another WR off the board, now the position is insanely thin in free agency. This WR heavy draft is a God send
OBJ s looking for a new home.
It’s weird that Evans will reach the HOF without really being one of the BEST at his position during his time.
He’s certainly the most consistent but he’s never really ever been top 3 at his position in any given year. Zero time 1st team all pro but two 2nd team selections and 5 pro bowls.
He’s a work horse and deserves every penny and thr HOF induction he eventually gets.
I guess he would be the WR equivalent of Frank Gore. When you’re always consistent and dependable you don’t necessarily have to be flashy to reach Canton.
I’d say that’s a pretty accurate comp, another similarity could also be tim brown. He also never made a first team all pro but collected a lot of stats along his career.
To me, the most impressive thing about Evans is how QB proof he is. Take out Brady and you’re left with:
Mike Glennon
Josh McCown
Jameis Winston
Ryan Fitzmagic
Blaine Gabbert
Baker Mayfield
And he’s gotten to a 1000 yards through all of them. That’s insane.
And don’t forget how good he made completely overrated Johnny Manziel look!
Does he deserve this deal? Yes, Evans is a stud who is consistent and durable.
But to me this makes the Godwin deal look all the more questionable. That’s an awful lot of money to spend on your 2 starting WRs.
Baker Mayfield likely isn’t going to command $40m-$50m at QB though, so they have some money to work with. I think it balances out in many ways, and I’d be really happy if I was a Buccaneers fan.
Watch a two-year recovery injury take Mike Evans out in the first quarter of game one. It couldn’t happen? Two names: Aaron Rodgers, Ryan Fitzpatrick.
These high value deals, especially on vets, carry very high risk.
That said, I hope Evans gives the Bucs two more stellar seasons. He’s been amazingly consistent for his career and plays with style.
Recovery can be harder with age, no question. Injuries could happen to any player though, at any age. If the dollars make sense, I don’t feel any team should shy away from paying a player for fear they may get hurt.
I’m sure the contract is probably insured against injury, anyway.
MARCH 5, 11:24am: The upfront payout will be critical for Evans, because this contract will carry a base value of $41MM, Pro Football Talk’s Mike Florio indicates. Of that $41MM, $29MM is fully guaranteed. The contract guarantees Evans $6MM of his 2025 salary at signing and an additional $6MM comes in the form of an injury guarantee. The other $6MM of Evans’ 2025 money is nonguaranteed.
Gotta be a Rocket Surgeon to draw up this contract
Great Googly Moogly
Noice