Contract Details for New Buccaneers WR Sterling Shepard Revealed

The Bucs got a veteran wideout for low cost.

Jan 7, 2024; East Rutherford, New Jersey, USA; New York Giants wide receiver Sterling Shepard (3) enters the field during introductions the field before the game against the Philadelphia Eagles at MetLife Stadium. Mandatory Credit: Vincent Carchietta-USA TODAY Sports / Vincent Carchietta-USA TODAY Sports

The Tampa Bay Buccaneers have been adding to their wide receivers room lately, and they just landed a veteran who has history with Baker Mayfield.

The Bucs signed former New York Giants wideout Sterling Shepard on Thursday, bringing in another player to a bit of a crowded room. Tampa Bay also signed former Seahawks wideout Cody Thompson, but unlike Thompson, Shepard has had a lot of experience in the NFL over eight seasons.

READ MORE: Sterling Shepard on Signing With Buccaneers: "It's Hard Not To Smile Right Now"

As reported by FOX Sports' Greg Auman, Shepard will be on what is called a Veteran Salary Benefit contract, or a VSB for short. With this, he'll make $1.21 million in 2024 and will receive at most a $167,500 bonus alongside that. It's cheap for a wideout with a lot of experience and history with the starting quarterback, as Mayfield played with Shepard at Oklahoma when the two were in college.

It's a veteran salary benefit (VSB) contract for Sterling Shepard, so the veteran minimum salary at $1.21 million and at most a $167,500 bonus. Good experience and a low-risk signing to add experience at the position.

— Greg Auman (@gregauman) June 6, 2024

The VSB also benefits the Bucs, too. A VSB contract is a special contract that can be given to players with at least four years of credited NFL experience — Shepard has eight, so his contract is worth the base value for a player with eight credited seasons, which is $1.21 million. He'll also receive at most a $167,000 signing bonus, which is the 2024 limit for VSB

However, a VSB contract allows a team to count the contract toward the salary cap as if it were just two seasons, meaning that his contract will only count for $985,000, per Over the Cap. This helps both Shepard and the Bucs — Shepard gets some extra money and the Bucs get to keep him for a lower number on the 2024 salary cap.

READ MORE: Will The Buccaneers Bring Back Chris Godwin in 2025?

All-in-all, the deal is a very low risk one for the Bucs, and if Shepard can tap into some of the chemistry he had with Mayfield in Oklahoma and his play from his earlier years as a Giant, it could pay dividends for both sides.

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