Bills get significant salary cap savings as Von Miller agrees to restructure contract
Bills pass rusher Von Miller has agreed to renegotiate his contract, giving the Bills significant salary cap relief.
Miller has agreed to. cut his base pay this year from $17.5 million to $8.855 million, according to Field Yates of ESPN. That will save the Bills $8.645 million.
At first glance, it appears that Miller took a pay cut to help the team out. Miller didn't have to do anything: Before this renegotiation, his contract guaranteed him $10.71 million for 2024, and he could have told the Bills he's holding them to the contract that both sides agreed to, and he's not budging. Instead, Miller took significantly less.
The deal does have upside for Miller in incentives that could push his pay all the way up to $20 million for 2024. We don't know what those incentives are yet, but a player like Miller — who's 35 years old and has seen his production decline significantly — typically wouldn't be expected to hit a lot of incentives at this point in his career.
The Bills headed into today way over the 2024 salary cap, but the Miller restructuring and several other moves they've made today have them well on their way to being under the cap when the new league year starts a week from now.
