As expected, the Buffalo Bills on Tuesday restructured the contract of All-Pro wide receiver Stefon Diggs to create nearly $8 million more in salary cap space for the upcoming 2021 season.
According to Field Yates of ESPN, The Bills converted $11,718,333 of Diggs' salary into a signing bonus, which creates $7,812,222 in 2021 cap space.
More moves could be forthcoming for the Bills and general manager Brandon Beane as he attempts to put the team in better position to sign quarterback Josh Allen and linebacker Tremaine Edmunds to long-term deals, get the rest of their rookie draft picks signed and perhaps acquire a veteran or two via free agency or a trade.
As we reported at Bills Central on Sunday, other options that could drastically impact their cap space would be to trade defensive end Jerry Hughes or target left tackle Dion Dawkins or safety Jordan Poyer with restructured or extended contracts.
Restructuring Dawkins' contract could save them as much as $4.9 million, according to Over the Cap. An extension could net $5.428 million in savings. Dawkins is only 27 and signed through 2024.
An extension for safety Jordan Poyer could net them as much as $4.32 million in savings. Poyer is signed to a team-friendly deal now that expires after next season but allows the Bills to cut or trade him after this season and save $6.7 million.
That doesn't seem likely, however, so adding an extra year or two might make the most sense.
The Bills have been linked by many to free-agent cornerback Steven Nelson, a recent salary cap casualty of the Pittsburgh Steelers, and to Philadelphia Eagles tight end Zach Ertz, who is available on the trade market.
Regardless of what the Bills' intentions are, look for more moves to create cap space now that the calendar has turned to June, which allows all teams to spread cap relief over two seasons instead of one by trading, releasing or adjusting the contracts of veterans.
These savings were not available before Tuesday.