The team also released WR Chas Gessner, CB Carlos Hendricks and TE Matt Herian from the Injured Reserve list.
Davis rejoins the Buccaneers after originally signing with the team as a free agent on March 13, 2007. He spent the preseason with the Buccaneers before being released on September 2.
Madison was claimed off waivers on September 2. He was declared inactive in Tampa Bays season opener at Seattle.