Bills offseason tracker: Where will Buffalo’s cap space be spent in a pivotal offseason?
The Bills got a number of important contracts done before free agency opens.
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After plenty of buildup to the new league year, NFL free agency is officially underway for the 2025 offseason. The Bills were as close as they’ve ever been to a Super Bowl berth with the trio of quarterback Josh Allen, head coach Sean McDermott and general manager Brandon Beane leading the way.
The 2025 offseason is also quite a bit different than the one the Bills had in 2024. They’ll have some easily accessible cap space to work with, and don’t have nearly as many starting positions to fill as last year. However, every move they make can get them that much closer to finally getting to the top of the AFC, and potentially even the entire NFL.
This offseason tracker will be updated with every Bills re-signing, restructured contract, release, external signing and trade — along with analysis, reactions and more to each.
March 9
Josh Allen
Analysis: It was only a matter of when, not if, the Bills and Allen would have a new deal in place. Before the two sides reached the new contract agreement, Allen’s deal carried a $43 million per year average, which was 14th amongst quarterbacks in the NFL. When it comes to Allen, their franchise player and one of the best players in the league, the Bills have been extremely proactive throughout his career in taking measures to stay ahead of any potential frustrations. Whether it’s through player acquisition or now staying ahead of the curve on two separate contract extensions, Beane has made it a point to take care of Allen. The newest extension is no different, now placing Allen tied for second in APY at $55 million, but easily eclipsing the previous high NFL mark for most guaranteed money.Allen, the regular season MVP of 2024, easily had his best year to date with a receiving room he had to carry at times. He limited his turnovers, made great decisions, made it a habit to carve up whatever defensive approach teams used against him, and was a threat through the air and on the ground. Allen is firmly in the prime of his career, falling just shy of the Super Bowl in a three-point loss to the rival Kansas City Chiefs. The Bills know that they are in the golden years of Allen’s career right now, and all the contract extension moves they made this offseason to secure their young core around Allen aim to maximize their quarterback’s winning window through his early 30s. Even though he’s still right in the middle of his prime, Allen has already made the case that he’s the best quarterback in franchise history.
The new contract will run through the 2030 season, which will be Allen’s age-34 campaign. Before the deal was reached, Allen had a scheduled cap hit of $44.73 million in 2025. It would not be a surprise if, through this negotiation, they created cap space for the upcoming season. Of that cap hit, $28.73 million was already there in prorated bonuses already paid out from the previous deal and can’t be moved to a different year, so the new contract won’t have a landslide of cap savings. However, based on how Beane has handled past contract extensions, it would not be a shock if the move helped create $10 million or more in cap savings. It’s a home run to have this deal done now, especially with more quarterbacks about to hit a payday around the league with the start of the new league year on Wednesday.
Bills release DE Von Miller
Analysis: Just one day after the Bills extended edge rusher Greg Rousseau through the next five seasons, the Bills waved goodbye to their big splash pass-rushing signing from the 2022 offseason. The team released Miller as a means to open up cap space in 2025, and they’ll get an immediate boost of $8.4 million to their spending amount this offseason. With Miller accounting for a $23.8 million cap hit in 2025, and without any guaranteed money, the role the soon-to-be 36-year-old played didn’t warrant that type of cap commitment. Something had to give with Miller’s contract, whether it was him being released by the team or a massive pay cut.Miller’s tenure with the Bills will be mired in a what-could-have-been. Knowing they needed a huge boost to their pass rush, the team signed Miller to a big free-agent deal despite the player heading into his age-33 season. Despite the risk, the returns were immediate. In 2022, the Bills’ pass rush was as potent as it had ever been since McDermott and Beane arrived in Buffalo. Miller was constantly getting into the backfield in his first Bills season, racking up eight sacks in his first 10 games. 20 snaps into his 11th game with the team, a road game against the Lions, Miller tore his ACL and was out the rest of the season.
Because the injury happened so late in the year, his 2023 campaign was derailed by rehabbing the injury. He didn’t return until Week 5, though he was not the same player. Miller ended the year without a sack and with massive questions about whether he had anything left in the tank. 2024 was a bounce-back season for Miller, though in a muted role. The Bills limited him to 15 to 30 snaps per game, mostly in a third-down role. He had six sacks and put together some good pressures, but the days of him being on the field nearly the entire game were long gone.
Even if the Bills were to bring back Miller on a low-cost one-year deal following the release, the Bills’ defensive end room is ripe for a notable addition this offseason, whether through free agency, trade or the 2025 NFL Draft.
March 8
DE Greg Rousseau signs a
Analysis: Rousseau was undoubtedly one of the Bills’ best and most consistent defenders in 2024. He was on the field constantly and was one of the key pieces to their pass rush, working from both the left and right defensive end positions. Although he has never hit the double-digit sack marker in a year, his pressure rate has consistently been on the higher side over the last few seasons. Beane said at the NFL Combine that he believed Rousseau was an ascending player, though they mentioned that they’d like him to be a consistent double-digit sack pass rusher.The contract extension is a humongous vote of confidence that he’ll be able to get there.
The numbers on the deal are surprisingly on the low side, considering he turns 25 in April and remains a high-ceiling type of player. If Rousseau’s final APY is $20 million, that would make him the 12th-highest among edge rushers in the NFL, which will assuredly be topped by some free-agent deals in the coming days. For the Bills, they are hoping they got ahead of the player’s true prime on a contract that will look good in a few years. That’s how they approached the deal with right tackle Spencer Brown ahead of the 2024 season, and it worked out well.
They are also likely to get some cap space relief in 2025 as part of the deal. Rousseau cashes in before ever having to think about the open market on a contract that is higher than some of his stats would have pointed to. Either way, it’s a leap of faith by both player and team, but Rousseau has enough of an all-around game to make sure he remains a core starter through the length of the deal.
LS Reid Ferguson signs a four-year deal through 2028
Analysis: Just two days after the team released punter Sam Martin, one of their specialist trio, the team decided to bring back their long snapper Ferguson, a locker room mainstay. Ferguson was due to become an unrestricted free agent, but instead, avoided the open market and stayed with the only team he’s ever played for. He was already the longest-tenured player within the organization, having started his Bills career in 2016 when Rex Ryan was still the head coach. With new special teams coordinator Chris Tabor taking over the unit in 2025, Ferguson will likely continue his role as a leader within the locker room and that group. Ferguson will turn 31 later this month.March 7
LB Terrel Bernard agrees to terms on a
Analysis: Bernard took over the starting middle linebacker role in 2023 after Tremaine Edmunds left in free agency that offseason and burst onto the scene. Bernard compiled several flash plays and helped force turnovers, establishing his importance within the organization without delay. The 2022 third-round pick went on to be named the lone defensive captain for the 2024 season, a role he’s expected to carry now for the long term. McDermott has lauded Bernard for his leadership, so it was extremely clear that the Bills viewed him as a core piece moving forward if the money made sense.There is still room for improvement with Bernard, too. His run defending was a bit inconsistent early on as a starter, though it improved, specifically near the end of the 2024 season.
One of the biggest points of emphasis for getting Bernard to agree to a long-term contract is that longtime starting outside linebacker Matt Milano is likely nearing the end of his tenure with the Bills in the next year or two. Milano is signed through the 2026 season, though he turns 31 in July and has endured multiple long-term injuries throughout his career. Milano returned from an August torn biceps injury in December and started to look more like his pre-injury self with the more reps he took. However, 2025 could be Milano’s last year with the Bills, as they could release him next offseason and save over $5 million on the 2026 salary cap. With all that uncertainty, having Bernard in place for one of their two key linebacker positions was critical to them.
Bernard’s new contract terms has him, on average, making $12.5 million per season, which is now tied for the sixth-highest contract for an off-ball linebacker. Although it’s a higher figure relative to his position, it’s still well below the deal Edmunds signed with the Bears in 2023 and nowhere near Baltimore’s Roquan Smith ($20 million APY) at the top of the market. However, some of Bernard’s total figure could have some performance incentives that wouldn’t immediately impact the cap hits, which would then drive the APY down once the deal is signed. That was the case with wide receiver Khalil Shakir, who signed a contract extension recently. Originally reported with an APY of just a shade over $15 million, the contract came down to $13.25 million once the full details came out a few days later. The details of Bernard’s deal will be very important for a Bills team that is routinely close to the salary cap with a franchise quarterback signed on a massive contract.
The two most significant moves of the Bills offseason thus far have been to extend two players who wouldn’t have hit free agency until 2026. First, it was Shakir, and now it’s Bernard, with both now under contract for the next five seasons. Getting the 2026 class of free agents was a pressing issue for the Bills, given that they had seven starting players with expiring contracts — Shakir, Bernard, cornerback Christian Benford, defensive end Greg Rousseau, running back James Cook, center Connor McGovern and left guard David Edwards. It would not be a surprise if the Bills continued to attack this list of key starters in setting up the franchise with their core starters through the remainder of Josh Allen’s prime.
March 6
P Sam Martin released
Analysis: The Bills lacked clear cut candidates this offseason, but Martin stood out. The move will save the Bills just under $1.9 million on the 2025 cap. Martin turned 35 at the end of February, was entering the final year of his contract and had a $500,000 roster bonus due just a few days after the start of the new league year on March 12. Of 34 qualifying punters with 20 or more punts, he had only the 20th-best punting average and the 27th-best net average. The Bills may have tipped their hand by signing Jake Camarda, a fourth-round pick in 2022 who spent two-plus years as the Buccaneers’ punter, to a reserve/futures contract in early January. They could also use a late-round pick on a punter. It’s their chance to get better and cheaper at the position and to give everyone the #Puntapalooza we (I) so desperately desire.March 5
Khalil Shakir’s contract details emerge
Here are the details of Shakir’s new contract extension, according to a league source.Shakir will carry an average per year of $13.25 million over the four-year extension. He received a $7 million signing bonus, which prorates over five years, he’ll get a $9.1M option bonus in 2026, which will also prorate over five years after it triggers, and the contract has a void year in 2030 for cap purposes.
Shakir’s cap hits by year:
- 2025: $2.59 million
- 2026: $6.79 million
- 2027: $13.92 million
- 2028: $15.02 million
- 2029: $15.97 million
- 2030 (void year): $1.82 million
Shakir’s 2025 cap hit actually went down from where it was before the contract ($3.41 million) and saved just shy of $1 million. The 2026 cap hit is extremely manageable, considering they have several players they can release in 2026 to create ample cap space. Then, in 2027, if the Bills were to do a simple restructure without adding another void year, they could save $6.5 million on that year’s salary cap. The Bills did very well on this deal.
March 3
TE Quintin Morris doesn’t get a restricted tender, according to a team source
Analysis: Although the Bills could have kept the right of first refusal option for Morris, it likely would have been well higher than his open market value. The lowest tender level would have been for $3.26 million. The likely outcome is the Bills hoping to bring Morris back on a more cost-effective deal. Morris proved his value on special teams over his three seasons in Buffalo, and he’s a bit underrated on offense as both a pass-catcher and a blocker. But without the offensive experience, it limits his open market value. Somewhere around $2 million seems like the sweet spot for Morris.February 25
WR Khalil Shakir agrees to terms on a
Analysis: The Bills entered the 2025 offseason knowing they’d have more cap space to work with than last offseason, but they also need to address their hefty group of five young upcoming free agents with rookie deals set to expire in 2026. In signing Shakir, they started to solve that 2026 issue as the NFL Scouting Combine began to ramp up. Even if his stats weren’t among the highest in the league, Shakir became one of the most important pieces of the Bills passing attack in 2024.Playing primarily as the slot receiver, Shakir led the team in receiving yards in Josh Allen’s MVP season and became a critical target in late down and clutch situations for the franchise quarterback. The four-year deal keeps one of Allen’s most trusted targets in-house for the long term, and in a booming receiver market in free agency, what should be a modest cost. Once the deal is signed, Shakir will be under contract through his age-29 season, establishing him as one of the core pieces for the rest of Allen’s prime.
What stands out most about Shakir’s on-field ability was his consistency, dependability when targeted and underrated run-after-catch ability. While Shakir primarily lined up as the slot receiver, he also did much more than just work the middle areas of the field. He was a critical target on wide receiver screens to try and spread out a defense. When plays broke down, and Allen needed to improvise, Shakir showed a terrific knack for finding open space and, even at times, getting behind the defense for a big play. On top of all that, his contact balance to fight through tackle attempts is one of the best in the league.
While he isn’t the flashy receiver with gaudy stats, his consistency reflects the perfect embodiment of the type of glue guy the Bills have tried to keep since head coach Sean McDermott and general manager Brandon Beane arrived in 2017.