Charles Clay signs five-year, $38 million Buffalo Bills offer sheet

The Buffalo Bills have finally cobbled together their offer sheet for Miami Dolphins tight end Charles Clay, and it is a doozy. Vic Carucci of The Buffalo News was the first with the details: Clay has signed a five-year, $38 million offer sheet with more than $20 million guaranteed, with $24.5 million paid out in the first two years of the deal, and with a $10 million roster bonus due at the beginning of the 2016 league year.

The #Bills have given an offer sheet that Charles Clay has signed. The #Dolphins have 5 days to match.

— Vic Carucci (@viccarucci) March 17, 2015

The #Bills' offer to Clay is for 5 yrs and $38 million. More than $20 million guaranteed.

— Vic Carucci (@viccarucci) March 17, 2015

More on the #Bills' offer sheet to TE Charles Clay: $24.5 million over the first 2 years.

— Vic Carucci (@viccarucci) March 17, 2015

Buffalo's offer to Clay includes $24.5m over the first two years and a $10m roster bonus at the start of next league year. Big numbers.

— Mike Garafolo (@MikeGarafolo) March 17, 2015

That, folks, is a lot of cheddar. It is, in fact, too much cheddar for a player with Clay's CV, regardless of how coveted he has been to this Bills regime, or how desperately the team needs a competent player at the tight end position.

I mean...

For perspective, Charles Clay will join Julius Thomas and Jimmy Graham as the only TEs in the NFL getting more than $20M in GTD money.

— Matthew Fairburn (@MatthewFairburn) March 17, 2015

Ah, well. It ain't my money, I guess. Let the five-day window of trying to figure out if the Dolphins are going to match begin.