4:01pm: Penn has now officially signed with the Raiders (Twitter link).
WEDNESDAY, 2:11pm: Penn’s deal with the Raiders will be a two-year contract with a base value of $9.6MM and a guarantee of $4.2MM, tweets Albert Breer of the NFL Network. Adam Caplan of ESPN.com adds (via Twitter) that Penn could earn up to $11.9MM on the deal if he reaches certain playing time and Pro Bowl incentives.
TUESDAY, 6:53pm: The Raiders have agreed to sign offensive tackle Donald Penn, tweets Albert Breer of the NFL Network. Ian Rapoport of NFL Network (on Twitter) first reported that the two sides were nearing agreement. Landing Penn should be a big help for Oakland after the Rodger Saffold deal fell through.
The Buccaneers cut Penn earlier this month, dropping most of his $7.5MM salary for 2014 and signing Anthony Collins in his stead. Cutting ties with the soon-to-be 31-year-old left Tampa Bay on the hook for just $1MM in dead money. Ever since he was cut loose by Tampa Bay, speculation was rampant that he would wind up with either the Redskins or the Raiders. While Penn met with Washington yesterday, it appears that he has found a home in Oakland.
Saffold appeared to have a deal struck with the Raiders, but Oakland backed out of the deal over perceived health issues. Ultimately, the tackle wound up signing a five-year pact with the Rams.