One of the most consistent wide receivers of his generation, Mike Evans could have left the Tampa Bay Buccaneers as a free agent during the 2024 offseason.
Instead, the veteran pass catcher decided to re-sign with the only NFL team he’s ever played for. Let’s examine Evans’ contract, salary, and more.
Mike Evans’ Contract and Salary
Evans wasn’t always a lock to return to Tampa Bay in 2024.
He engaged in extension negotiations with the Bucs before the 2023 campaign, but the two sides couldn’t agree on a deal. The New York Jets reportedly inquired about Evans during the summer and at the 2023 trade deadline to no avail.
In the end, Evans never even hit free agency. He re-signed with Tampa Bay before the market officially opened, inking a two-year deal worth $41 million, including $29 million in full guarantees.
Evans’ $20.5 million average annual value makes him the NFL’s 20th-highest-paid wide receiver in 2024.
Evans’ guarantee consists of his 2024 base salary ($1.21 million), a $21.79 million roster bonus paid out in two installments this year, and $6 million of his 2025 salary.
Another $6 million of his 2025 salary is already guaranteed for injury and will become fully guaranteed on the fifth day of the 2025 league year.
Tampa Bay included void years in Evans’ contract for the 2026, 2027, and 2028 seasons. He will still become a free agent after the 2025 campaign, but those void years allow the Bucs to spread his prorated signing bonus money across five years instead of the two that the deal actually covers.
Evans’ cap charge in 2024 is just $5.568 million before increasing to $22.358 million in 2025. If Tampa Bay fails to re-sign him, it will be left with $13+ million in dead money in 2026.
Because Evans posted at least 70 catches, 1,000 receiving yards, and 10 touchdowns in 2024, his 2025 base salary increased from $18 million to $21 million. So when he surpassed 1,000 receiving yards in Week 18, not only did he tie Jerry Rice for the most consecutive 1,000-yard seasons in NFL history, he also earned a $3 million bonus.
Evans can earn $2 million via incentives each season by finishing in the top 10 in receptions, yards, and touchdowns. He can collect another $500,000 for each Bucs playoff victory, assuming he plays at least 65% of their regular-season snaps.
Evans has put together a legendary career on the field and done incredibly well for himself off the field, with $134,029,030 in career earnings and a net worth estimated at $55 million.