Penn agreed to terms with the Raiders today, according to NFL Network.
Penn visited the Washington Redskins and Raiders before deciding to go with Oakland. He's expected to be their new left tackle.
Penn was due a $6.75 million base salary when he was released.
However, the Buccaneers didn't feel like his pay matched his compensation.
Penn has started 108 career games.
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Aaron Wilson covers the Ravens for The Baltimore Sun