Twelve months after inking superstar quarterback Josh Allen to a record-setting extension worth $330MM over six years, the Bills have tweaked the contract. The team has converted $15.2MM of Allen’s salary into a signing bonus, clearing $12MM in cap space for this year, according to Spotrac.
This is the latest noteworthy move the Bills have made to reach cap compliance before the new league year begins this afternoon. They agreed to a restructured contract with one of Allen’s targets, tight end Dawson Knox, on Tuesday. They reworked kicker Tyler Bass‘ deal shortly before adjusting Knox’s. The Bills are still approximately $2MM in the red, per OverTheCap.
Although the Bills are not in a favorable financial position, they nonetheless brought in high-priced wide receiver D.J. Moore in a trade with the Bears. They also re-signed center Connor McGovern to a four-year, $52MM pact. The edge rusher-needy club has also been in on expensive defensive ends Trey Hendrickson and Maxx Crosby.
Baltimore beat out Buffalo and others to win the Hendrickson derby on Wednesday. The Hendrickson signing came after the Ravens’ agreement to acquire Crosby from the Raiders stunningly collapsed on Tuesday evening. Crosby, who is recovering from meniscus surgery, failed the Ravens’ physical. It’s unknown whether the Bills or other teams will circle back on trade talks for the five-time Pro Bowler.
Along with adding Moore and retaining McGovern, the Bills addressed their need at slot corner in agreeing to sign former Falcon Dee Alford for three years and $21MM. In addition to edge rusher, there are still holes to fill at linebacker and safety, among other areas. Even with a newfound $12MM from restructuring Allen’s contract, general manager Brandon Beane is facing an uphill battle in free agency.