It's officially official: Tom Brady is a Tampa Bay Buccaneer.

The longtime New England Patriots quarterback finally put pen to paper on a two-year agreement with Tampa on Friday, marking an official end to his 20-year run alongside Bill Belichick and the Patriots dynasty.

How much money, exactly, will Brady earn with the Buccaneers, though?

It turns out Brady's two-year deal is worth a fully guaranteed $50 million, according to ESPN's Adam Schefter. Reports from The Washington Post's Mark Maske and NFL Network's Ian Rapoport previously indicated the contract would pay Brady $60 million over two years, but the maximum value, per Schefter, is actually about $59 million, with up to $4.5 million in incentives built into each of the two seasons of the contract.

In other words, Brady is due $25 million per season over the next two years, but he can earn up to $29.5 million each year.

At $25 million per year, Brady, 42, would be tied with three other QBs as the 12th-highest-paid in the NFL. At $29.5 million per year, he'd be tied with the Tennessee Titans' Ryan Tannehill as the ninth-highest-paid QB in the league. In terms of just 2020 salary cap hits, Brady would clock in as either the fifth- or sixth-highest-paid QB in the game, earning more than all but Jared Goff, Ben Roethlisberger, Dak Prescott, Russell Wilson and, depending on whether or not he earned max incentives, former Pats teammate Jimmy Garoppolo.

A $25M salary would mark just a slight raise for the former Patriots QB, who earned an estimated $23 million with New England in 2019 and consistently signed under-market contracts to remain with the Pats. Assuming he earns incentives, though, Brady would be in line for a relatively significant boost. According to Schefter and CBS Sports' Jason La Canfora, the QB's new deal with Tampa Bay also includes a no-trade clause and prohibits the Buccaneers from using the franchise tag on him.

The Los Angeles Chargers reportedly offered Brady $30 million per year, and the Las Vegas Raiders were at one point reportedly prepared to make virtually the same offer. The Patriots, meanwhile, reportedly "gave Tom a number" during a meeting just before free agency but didn't meet Brady's apparent demands, choosing not to make a "tangible effort" to re-sign their six-time Super Bowl champion.