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Buccaneers sign Vernon Hargreaves III to his first contract

Jerry Lai-USA TODAY Sports

Update: The Bucs also announced signing sixth-round pick Devante Bond to a contract.

The Tampa Bay Buccaneers have signed rookie first-round pick Vernon Hargreaves III to a contract, the team just announced. He's the third rookie to sign his contract, after the team got fifth-rounder Caleb Benenoch and fourth-rounder Ryan Smith to sign yesterday evening. These contracts are mostly a formality, as the NFL operates with what is effectively a rookie pay scale since agreeing to the 2011 CBA.

The contract is for four years and includes a fifth-year team option, as is the case for all first-round contracts. Spotrac estimates his contract will be worth around $14.2 million over the first four years. A fifth-year option will be worth the average of the third through 25th highest salaries at the position. Currently, that's just over $8 million.

The Bucs picked Hargreaves with the 11th overall pick after trading down from number nine. He started 35 games at the University of Florida, intercepting nine passes, breaking up 28 passes and adding two fumble recoveries and one forced fumble. Hargreaves grew up in Tampa and was widely seen as the second-best defensive back in the draft, behind Florida State's Jalen Ramsey.

The Bucs have three unsigned draft picks: second-rounder Noah Spence and Roberto Aguayo, and sixth-rounder Dan Vitale. They should be signed to contracts before long.