If the Buffalo Bills are having second thoughts about not extending the contract of quarterback Tyrod Taylor this offseason, the contract extension that they struck this week with left tackle Cordy Glenn gives the team $7.5 million in salary cap breathing room to pull the trigger on their man under center.
ESPN's Mike Rodak reported the details of Glenn's contract on Saturday morning; the Bills structured Glenn's deal in such a way that his 2016 cap hit will drop from $13.706 million (the franchise tag value) down to $6.2 million, the sum of his $3 million base salary and $3.2 million in signing bonus proration. Glenn will actually make $19 million this year - the $3 million base salary, plus a $16 million signing bonus - but his deal is far less prohibitive on the team's books.
Per Rodak, the Bills now have just over $14.2 million in available salary cap space, some of which will be allocated for rookies and street free agent signings to come. Buffalo could create even more cap space for themselves if they're able to reach a contract extension with cornerback Stephon Gilmore before the season; any long-term extension with Gilmore would likely drop his 2016 cap hit significantly from the $11 million it is currently, just like Glenn's deal did.
Here's the full breakdown of Glenn's contract, first in terms of salary cap hits...
- 2016: $6.2 million ($3M base salary, $3.2M signing bonus proration)
- 2017: $14.2 million ($9M base salary, $3.2M signing bonus proration, $2M roster bonus)
- 2018: $14.45 million ($9.25M base salary, $3.2M signing bonus proration, $2M roster bonus)
- 2019: $12.45 million ($7.25M base salary, $3.2M signing bonus proration, $2M roster bonus)
- 2020: $12.7 million ($7.5M base salary, $3.2M signing bonus proration, $2M roster bonus)
... and then in terms of earning potential for Glenn.
- 2016: $19 million ($3M base salary, $16M signing bonus)
- 2017: $11 million ($9M base salary, $2M roster bonus)
- 2018: $11.25 million ($9.25M base salary, $2M roster bonus)
- 2019: $9.25 million ($7.25M base salary, $2M roster bonus)
- 2010: $9.5 million ($7.5M base salary, $2M roster bonus)
Glenn can earn another $5 million in incentives throughout the course of the deal, though it's still not clear precisely how that would happen. Added to the $36 million in base salaries, $8 million in roster bonuses, and the $16 million signing bonus, Glenn could earn $65 million in total. He is guaranteed to make at least $36 million - the $16 million signing bonus, his $3 million 2016 base salary, his $9 million 2017 base salary, and $8 million of his 2018 base salary.