Woods, 28, is a former second-round pick of the Bills back in 2013. He has played out his four-year, $4,866,769 rookie contract with the Bills before signing a five-year, $39 million contract with the Rams in 2017 that included $15 million guaranteed.
Woods stands to make base salaries of $5.5 million and $7.5 million over the final two years of the agreement.
In 2020, Woods has appeared in one game and caught six passes for 105 yards receiving. He has also rushed for 14 yards on one carry.