Bucs sign LT Penn to 6-year, $48-million contract, reach agreement with McCoy on 5-year deal
Sleepless general manager Mark Dominik announced that the Bucs have signed left tackle Donald Penn and reached an agreement with first-round pick Gerald McCoy.
Penn, who arrived in Tampa on the red-eye from Los Angeles Saturday morning, signed a 6-year deal believed to be worth $48-million and includes nearly $20-million guaranteed. He joined his teammates at practice Saturday 15 minutes after the announcement.
McCoy agreed to a 5-year deal and should be at the aftenoon practice.
"We just finalized Donald Penn's contract, we're very excited about that,'' Dominik said. "On top of that, we agreed to terms with Gerald McCoy. We're finishing up some language and paperwork. We've got a few things left. I don't know if he's going to be able to make it out to practice this morning. We're excited about having him for the afternoon practice. That should work out. So in that way, it's a really good day, it's a great day for the Bucs in terms of securing two players to long-term deals that can be really important to the organization.
Penn, who started 44 games at left tackle, refused to sign his one-year, $3.168-million tender and saw his offer reduced by $100,000. But talks intensified last week with Dominik and agent Rocky Arceneaux.
Penn is the only Bucs restricted free agent to receive a contract extension. Linebacker Barrett Ruud, tackle Jeremy Trueblood, receiver Maurice Stovall and running back Cadillac Williams signed their one-year tenders.
"I think in any organization, you've got to look at somewhat of a pecking order,'' Dominik said. "We certainly have a lot of excitement about Josh Freeman in being our franchise quarterback. Donald Penn has played very well for us the last couple of years and we're excited to have him for six more.''