He was suspended in 2012 for four games for violating the NFL's performance-enhancing drug policy. The suspension meant all the guaranteed money from his contract was voided. He then filed a grievance regarding his contract and lost. He reportedly was put on the trading block, and all indications are that it's just a matter of time before he is cut.
Wright is scheduled to earn $7.75 million in 2013, but given the Bucs' leverage, the Times reports a renegotiation is likely.
There is no indication as to how much of a reduction the Bucs expect the cornerback to take to stay on the Buccaneers, but there's no chance he'll make anywhere near $7 million next season.
The Darrelle Revis-to-the-Buccaneers trade rumors continue to swirl as the 2013 NFL Draft approaches, and Wright's future might hang in the balance.
Renegotiating with Wright probably will have zero impact on any Revis trade, but the Bucs might view it as a leverage play to try to push down the Jets' demands.
Wright still is a solid cover corner when healthy, but his contract situation means he might have to accept whatever offer the Bucs make -- rather than risk getting less on the open market.
Follow Kevin Patra on Twitter @kpatra.