Ed Oliver is sticking around for a bit longer with the Buffalo Bills.
Oliver signed a four-year extension in Buffalo. A first-round selection of the Bills in 2019, Oliver was playing on the fifth-year option on his rookie contract in 2023 which was picked up by the team last offseason.
At the top, Oliver’s fifth-year option had the defender’s salary cap hit at $10.7 million this year. In signing the new contract, it drops down to $5M according to Over The Cap. Those saving allowed the Bills to sign another defensive lineman, Leonard Floyd, to a one-year deal.
In 2023, Oliver will make a fully guaranteed $2.028M base salary. He’ll also earn a signing bonus of $14.75M. Oliver’s total fully guaranteed money is $24.5M in his extension so a bulk of that he’ll get up front.
The following year in 2024, Oliver’s base salary moves up to $14.75M and his salary cap hit jumps to $9.25M. Approximately half of his base salary in 2024 is guaranteed as well.
Then over the final few years of Oliver’s deal it turn into a “we’ll see.”
The first two years of Oliver’s new contract see no salary cap savings for the Bills if he’s cut. Between 2025 and 2027, there are.
Between those three years, here’s Oliver’s salary cap hit along with the cap space Buffalo would save by releasing him those years (per OTC):
- 2025: $20.75M ($14.85M)
- 2026: $21.125M ($18.175M)
- 2027: $22.65M ($22.65M)
So what does all that mean?
After the 2024 season, if the Bills like what Oliver brings to the table, general manager Brandon Beane will get back to work. The GM will then restructure or extend Oliver’s contract once again to smooth out those salary cap hits.
If the Bills wanted more out of Oliver? There’s a chance they’ll let him go to take to cap savings or he could sign a lesser deal to help the cap situation at that time.
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