Buffalo Bills NFL Salary Cap 2024: Will Josh Allen Lead the Worst Situated Team Next Year?

The Buffalo Bills are grappling with a formidable salary cap predicament in the upcoming 2024 NFL season. The Bills find themselves projected to exceed the cap by around $48.6 million (per Over The Cap) with the league’s salary cap estimated to surpass $240 million, a substantial increase from the previous year’s $224.8 million.

This financial challenge necessitates significant roster adjustments to bring expenditures within the cap constraints. The team’s total liabilities, inclusive of dead money, contribute to the complexity of their cap situation. Skillful management of player salaries and strategic decision-making is imperative for the Bills to navigate the intricacies of the 2024 salary cap.

The Buffalo Bills might consider restructuring Josh Allen‘s contract to alleviate their salary cap woes in 2024. Wide receiver Stefon Diggs‘ performance saw fluctuations in the final 11 games, including the playoffs, despite his impressive 107 catches for 1,183 yards and eight touchdowns. Diggs and edge rusher Von Miller, with a $27.9 million and a $23.8 million cap hit, respectively, present significant financial considerations for the team.

Strategic decisions on these key contracts will be crucial for the Bills to achieve cap compliance while maintaining a competitive roster. Navigating the offseason, the Bills will even face decisions regarding their secondary. Cornerback Tre’Davious White is recovering from a torn Achilles with a $16.4 million cap hit. The uncertain status of cornerback Dane Jackson, an unrestricted free agent, adds to the defensive considerations.

Midseason acquisition Rasul Douglas, with nearly $10 million in non-guaranteed money, also factors into the equation. Long-standing starting safeties Jordan Poyer and Micah Hyde, pivotal figures under coach Sean McDermott, present challenges. Poyer is nearing 33, and Hyde, already 33, is an unrestricted free agent. The Bills must strategize wisely to maintain defensive prowess while managing financial constraints.

Evaluating Josh Allen’s Contract 2024 Amidst Buffalo Bills Salary Cap Situation

Josh Allen’s significant contract extension with the Bills, signed on August 6, 2021, amounts to $258 million over six years. The deal includes $150 million guaranteed for injury, with $100 million fully guaranteed at signing. This comprehensive guarantee covers base salaries for 2021, 2022, and 2023, a $6 million roster bonus slated for 2024, a $16.46 million signing bonus, and a substantial $42.4 million option bonus in 2022.

Provisions dictated that if Allen remained on the roster on the 5th day of the 2022 league year, $10 million of his 2023 salary would become fully guaranteed. Similarly, being on the roster on the 5th day of the 2023 league year triggers $13.5 million of his 2024 salary and $16.5 million of a 2025 roster bonus to be fully guaranteed.

Now the Buffalo Bills would definitely face strategic challenges in managing their roster with Josh Allen’s increased cap hit. The quarterback’s contract intricacies involve full guarantees and performance incentives.

On the 5th day of the 2024 league year, Allen would secure a full guarantee on his 2025 roster bonus and $14 million 2025 salary, not injury guaranteed. A similar arrangement unfolds on the 5th day of the 2025 league year, ensuring a full guarantee on his $15 million 2026 roster bonus. So on and so forth. Incentives further enhance the deal, potentially elevating its value to $288 million. The Bills must navigate these intricacies judiciously for optimal roster management.