During usual times, bulletins about NFL players restructuring their deals appropriately get placed on the back burner. There are much more interesting items to discuss than accountants moving around numbers, like practically every other topic imaginable.
But it’s been a different kind of offseason, with the cap dropping 8% due to revenue hits from COVID-19. Cap magic tricks are more valuable than ever.
Buffalo Bills general manager Brandon Beane continues to show he’s the master.
ESPN’s Field Yates reported on Wednesday star cornerback Tre’Davious White is the latest member of the Bills to restructure his deal, converting his base salary into a signing bonus. The move frees up $7.56 million in cap space, giving Buffalo additional flexibility heading into the NFL Draft.
As the good folks at OverTheCap point out, though the Bills’ current allotment of picks will cost more than $6.8 million in gross cap hits, they only need to allocate $2.244 million towards signing players. Those are the important details — I’ll leave it to you to read the minutia.
Even with Josh Allen still on his rookie deal, it’s exceedingly rare for a Super Bowl contender to keep together the entire nucleus of its roster, while adding veteran pieces. But that’s what the Bills are accomplishing, and Beane’s ability to finagle around the salary cap is the biggest tactical reason why.
The Bills have restructured multiple veterans this offseason including Mitch Morse, Mario Addison, Vernon Butler, and now White. And the best part is, it’s easy to track where their money went. For example, the team cleared $2 million on this year’s cap when it restructured Addison’s deal.
On Tuesday, the Bills re-signed weapon Isaiah McKenzie to a one-year deal worth just $1.15 million.
Perhaps Beane’s biggest cap coup came when he re-signed linebacker Matt Milano to a decidedly under-market four-year, $41 million deal. Milano’s willingness to take less is a testament to Sean McDermott’s culture, and he's said as much. But his contract was also structured wisely. The veteran’s cap hit will only be $8 million this season, giving the Bills a top linebacker at bargain rate.
On the offensive line, Jon Feliciano took less to chase a title, and tackle Daryl Williams is only taking up just over $6 million on the cap.
Ultimately, the players deserve credit for buying into the organization, and an AFC Championship appearance makes it easier for Beane to retain players for discounted rates. But there is a brilliant shrewdness at play. The Bills could still use another veteran pass-rusher, and it’s now feasible to pine for someone like Carlos Dunlap. He would almost certainly have to take a steep discount to sign here, but Beane’s pulled off multiple tricks already this offseason.
White’s restructure is just laying the groundwork for Beane’s next play.
