The Tampa Bay Buccaneers recently extended the contract of free safety Jermaine Phillips, PewterReport.com has learned.
Phillips, who was scheduled to become a restricted free agent at the end of the season, is now signed through the 2008 season. Phillips’ signing bonus was approximately $1 million, and according to the NFLPA, his base salaries for the next three seasons are $1.35 million, $455,000 and $1.35 million, respectively. His salary escalates to $1.75 million in 2007 and again to $2.05 million in 2008.
Phillips, who replaced S John Lynch this season, currently leads all members of Tampa Bay’s secondary in tackles with 61 tackles, which ranks third-best on the defense. He has also added one interception, one sack and five passes defensed.
The Bucs are believed to still be interested in extending the contract of strong safety Dwight Smith, who is scheduled to become an unrestricted free agent at the end of the season. Smith and his former agent, Gene Burrough, rejected several contract proposals from Bucs general manager Bruce Allen during the summer. During training camp, Smith fired Burrough and hired Drew Rosenhaus.
PewterReport.com has also learned that the Bucs have extended the contract of fullback Mike Alstott, who was signed through the 2005 season before inking a deal that has him signed through 2008. According to Alstott’s representative, the “A-Train” restructured his deal in an effort to help the Bucs create salary cap room for this season and didn’t include an additional signing bonus.
Alstott’s new contract called for his 2004 cap value to lower $673,000 to $1.56 million. His cap value in 2005 is scheduled to be $2 million. The 2005 season would likely be Alstott’s last since he’s scheduled to receive a $2 million base salary and $3 million roster bonus in 2006, 2007 and 2008. Alstott’s cap value for all three of those seasons will be $5.168 million.
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