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Buccaneers announce five-year deal for Lovie Smith

Chicago Bears v Detroit Lions

DETROIT, MI - DECEMBER 30: Chicago Bears head coach Lovie Smith watches the action during the game against the Detroit Lions at Ford Field on December 30, 2012 in Detroit, Michigan. The Bears defeted the Lions 26-24. (Photo by Leon Halip/Getty Images)

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The Buccaneers formalized last night’s news, naming Lovie Smith as their next head coach.

The team announced a five-year contract for Smith, and will introduce him at a press conference in Tampa next Monday.

“Today is an exciting day for the Buccaneer organization, and the entire Tampa Bay community, as we welcome back Lovie Smith,” Buccaneers co-chairman Bryan Glazer said in a statement. “We knew from the start of our search that he was the ideal man to lead our team into a new era of Buccaneer football. Lovie is an accomplished and very well-respected head coach who has enjoyed success at every level of his 30-year career.”

Smith spent four years as an assistant in Tampa Bay under Tony Dungy, and has the kind of stability and experience the Bucs so badly need. His 81-63 record in Chicago was solid, and he went to a Super Bowl with Rex Grossman as his quarterback.

That will serve him well as they try to figure out if Mike Glennon is anything more than a Rex-level placeholder, or whether they need to make a push for another quarterback this offseason.