“Tom Brady is officially a Tampa Bay Buccaneer,” the team revealed in the first of a series of tweets posted Friday morning, following days of media speculation.
Brady, a six-time Super Bowl Champion, made a similar announcement to his 7.4 million Instagram followers.
"Excited, humble and hungry ...if there is one thing I have learned about football, it’s that nobody cares what you did last year or the year before that...you earn the trust and respect of those around through your commitment every single day," he wrote. "I’m starting a new football journey and thankful for the @buccaneers for giving me an opportunity to do what I love to do."
NFL Network previously reported the contract was worth $30 million a year, though the length terms were not immediately specified.
The 42-year-old had been with the Patriots since 2000, during which time he won six Super Bowls and garnered four Super Bowl MVP recognitions.
He played coy about his plans for the future in the months leading up to the announcement, and starred in a Super Bowl ad for Hulu, in which he told viewers, “I’m not going anywhere.”
Brady initially announced Tuesday he was officially leaving the team, but did not reveal where he had set his sights.
The Boston Globe reported Brady rejected a contract offer from the Patriots before ultimately deciding to move onto the Bucs.
But billionaire Patriots owner Robert Kraft told the outlet they would have made it happen if Brady had wanted to stay with the team.
“If he wanted to be here, we would have put a deal together,’’ Kraft told the Globe. “That’s what I thought was happening last night.’’
FOX Business reporter Thomas Barrabi contributed to this report.