The new deal is worth $72 million with $36 million guaranteed.
Edge rusher Shaq Barrett and the Buccaneers have agreed to terms on a four-year deal that's worth up to $72 million with $36 million guaranteed, Jones's agent, Drew Rosenhaus told ESPN's Adam Schefter and NFL Network's Ian Rapoport.
Minutes before the news broke, Barrett texted reporter Josina Anderson, "I am going back to Tampa."
The base value of the contract is $17 million per year with the possibility that he could get $18 million annually if he gets 15 sacks and the Buccaneers make the playoffs, according to Rapoport.
Barrett had eight sacks and 57 total tackles in 2020. During the Buccaneers postseason run that eventually landed them a Super Bowl, Barrett had four sacks in their four games played.
Barrett was just the first piece the Buccaneers were able to keep during free agency. Tight end Rob Gronkowski, running back Leonard Fournette, defensive lineman Ndamukong Suh and wide receiver Antonio Brown still remain unsigned.
Before this deal, the reigning Super Bowl champions were able to secure wide receiver Chris Godwin, linebacker Lavonte David and quarterback Tom Brady.