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Bills Restructure TE Charles Clay’s Contract To Free Up Some Cap Room

Update:

The Buffalo Bills announced Thursday night that they’ve restructured the contract of TE Charles Clay to free up some additional cap space.

“We just finished a renegotiation on Charles Clay,” said Whaley. “And there are other guys we may want to extend.”

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Sal Capaccio of WGR 550 Buffalo, citing sources with knowledge of negotiations, reports the Bills are “very close” to finalizing a restructured for TE Charles Clay.

Beyond that, Capaccio adds that the Bills are also in the process of trying to restructure the current deals of defensive backs Leodis McKelvin and Corey Graham.

The Bills are expected to release veteran DE Mario Williams at some point to boost their total cap space for free agency, but it wouldn’t hurt to gain some addition room, given that OT Cordy Glenn and G Richie Incognito are in line to be free agents.

Clay, 27, is in the second year of his five-year, $38 million contract that included $20 million guaranteed. He stands to make a base salary of $1.5 million to go along with a roster bonus of $10 million for the 2016 season.

According to OverTheCap.com, reworking Clay’s contract could create as much as $8 million in cap space.

In 2015, Clay appeared in 13 games for the Bills and recorded 51 receptions for 528 yards receiving and three touchdowns.