Buffalo Bills quarterback Josh Allen has agreed to restructure his contract in a move that frees up approximately $12 million in much-needed salary cap space for the team entering the NFL‘s new year, a person familiar with the discussions told The Associated Press on Wednesday.
The person spoke to the AP on condition of anonymity because the discussions were to remain private. ESPN was first to report the restructuring.
The move converts $15.2 million of Allen’s salary this season into a signing bonus and comes a year after he signed a $330 million contract extension that ran through 2030.
What is essentially a move on paper for Allen is significant for the Bills because it provides general manager Brandon Beane payroll flexibility to add players as the NFL’s signing period opened on Wednesday.
The Bills were projected to be about $4 million over the cap entering the day.
They were about $32 million over the cap a week ago, which led to the team releasing three players and trading cornerback Taron Johnson to the Las Vegas Raiders. The team also restructured various other contracts, while re-signing center Connor McGovern and acquiring wide receiver DJ Moore in a trade with the Chicago Bears.
Upon formally signing his four-year, $52 million contract on Tuesday, McGovern revealed that Allen played a role in bringing the two sides together.
“It doesn’t hurt when you have 17 [Allen’s number] in your corner,” said McGovern, who was otherwise preparing to test the free agent market.
Buffalo is undergoing a transition with Joe Brady taking over as coach, replacing Sean McDermott, who was fired in January following nine seasons. Though the team’s offense remains mostly intact, the defense — previously overseen by McDermott — is being overhauled under new coordinator Jim Leonhard.
Reporting by The Associated Press.
