Tampa Bay Buccaneers quarterback Tom Brady's sudden retirement will have an impact on the team's salary cap, but it's better than if he signed somewhere else, FOX Sports NFC South reporter Greg Auman wrote in a Wednesday tweet.

There will be $35 million in dead cap affecting Bucs' salary cap. The Bucs should be able to process that amount so it only counts as $11 million in 2023 and $24 million in 2024.

The $35 million cap hit would count as 15.43% of the Bucs' salary cap in 2023, according to Spotrac. The Bucs have just over $636,000 in dead cap for the 2023 season, including a $348,952 cap hit from wide receiver Jaelon Darden.

Michael Ginnitti, the co-founder and editor of Spotrac, said he expects Tom Brady and the Bucs to agree to a restructured contract at a minimum $1.165 million salary for 2023 in a Wednesday tweet. The move will allow the team to carry his contract with an $11.9 million cap figure through June 1st.

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The automatic void date on Tom Brady's Bucs deal will also need to be moved back from its current deadline of March 15, Ginnitti continued, allowing the just over $35.1 million of dead cap left on Brady's contract to be split up into about $10.78 million for 2023 and $24.32 million for 2024.

Tom Brady suddenly announced his retirement from the Bucs early on Wednesday morning, saying he was “retiring for good” in a short video he posted to Twitter.

“I know the process was a pretty big deal last time, so when I woke up this morning, I figured I'd just press ‘record' and let you guys know first,” Tom Brady said. “It won't be long-winded. You only get one super-emotional retirement essay, and I used mine up last year.

“Thank you guys so much, to every single one of you, for supporting me. My family, my friends, my teammates, my competitors. I could go on forever. There's too many. Thank you guys for allowing me to live my absolute dream. I wouldn't change a thing. I love you all.”