The Buffalo Bills were incredibly active on Wednesday, with perhaps their most significant move coming towards the end of the day. After a flurry of salary-cap maneuvers earlier on, veteran edge-rusher Von Miller agreed to a substantial contract restructuring, resulting in savings of over $8 million in cap space for the team.
Why is Miller’s selfless act such a significant development? In essence, it significantly enhances the Bills’ prospects in free agency.
The Bills had a productive day in terms of cost-cutting, releasing multiple players, including safety Jordan Poyer and cornerback Tre’Davious White, to generate approximately $36 million in cap relief.
Starting the day $40 million over the cap, they are gradually making progress towards financial stability, with Miller’s restructured deal contributing to this positive trend.
Moreover, there are likely further moves on the horizon, such as the potential restructuring of quarterback Josh Allen’s contract, which carries an unsustainable $47.1 million cap hit in 2024.
Nonetheless, for the time being, Miller’s contribution provides the team with much-needed breathing space. For Miller himself, the decision to renegotiate his contract was likely driven by necessity. Despite a standout eight-sack season in his debut year with the Bills in 2022, he experienced a sackless season in 2023.
However, instead of seeking opportunities elsewhere, the veteran opted to remain loyal to his team and assist in navigating their cap challenges.
The precise manner in which General Manager Brandon Beane leverages the flexibility afforded by Miller’s restructuring remains to be seen. Nevertheless, it grants him the freedom to make adjustments, a valuable asset for a team harboring Super Bowl aspirations like the Bills.
