Bucs receiver Russell Gage is now a free agent. When the team reworked his deal last year, it included an option for 2024 and the team declined to pick it up. They shed what would have been $10 million in salary, but take on about $3.5 million in dead money from old restructures.
— Greg Auman (@gregauman) March 11, 2024
The Tampa Bay Buccaneers have declined their team option on wide receiver Russell Gage for the 2024 season, making him a free agent, per Greg Auman of Fox Sports.
Gage signed a three-year, $30 million deal with the Bucs back in 2022, but injuries kept him from making much of an impact over the first two years of the deal.
Both sides reworked the deal last offseason, giving the team an option for the 2024 season. Tampa Bay saves $10 million in salary, but part of that will be offset by $3.5 million in dead money from previous contract restructures, as Auman points out.
This move creates additional cap space for the Bucs, and with the return of Mike Evans and the emergence of Trey Palmer as the team’s third receiver, makes plenty of sense.
