Every offseason we talk about player contracts, particularly when it comes to free agents and contract extensions. I decided to look over the Bills current contracts and realized a handful of players need new deals; however, the concern is that all four are on rookie deals, and all four will be free agents after the 2025 season. All will be vital pieces to this year's team and beyond, and the longer Brandon Beane waits to get them extended, will only cost the team more money in the long run.
This list includes two offensive and two defensive players. All four could become the best player on the roster at their respective positions, and I would argue some might already. None of them are first-round picks, so there is no fifth-year option the Bills could pick up. The team either needs to get them extended in the next year or so, or risk losing them to free agency. I hope that Beane will get out in front of these deals and not let them get even close to free agency and I'd get at least three of them extended within the next year.
The reasoning is simple. If you allow these guys to showcase their talent over two full seasons, their asking price will only increase. If Beane is proactive about this, he can get them locked up for a few more seasons beyond their rookie deals at a much lower cost. 2024 will be a big season for a lot of players on this roster, including Josh Allen, something we've talked about recently too. This could be a career-defining season for him, but the same could be said of all four of the players I've listed here because all four will play huge roles this year if Buffalo is going to have a successful season, and they will be asked to be leaders as well.
Let's get into the Buffalo Bills four grossly underpaid players.
WR - Khalil Shakir
Khalil Shakir has been with the team for two years now, and is on a four-year deal, for just over $4 million. Last season Shakir had a mini-breakout season, with 39 receptions on 45 targets, over 600 yards, and two touchdowns. In 2022 he had a little success in the two playoff games with five receptions and 91 yards. Last season, he was a big part of the Bills offense in the later part of the season and the playoffs. In two playoff starts last year, he recorded ten receptions on 12 targets, 75 yards, and two touchdowns.
2024 promises to be a big season for Shakir and his price will likely increase significantly. Shakir had the highest catch rate of all receivers last season and should be near the top once again in 2024. I expect the Bills to spread the ball around in the passing game, but Kincaid and Shakir will be the main targets. Shakir's cap hit this season is just over $1 million. If the Bills wait until 2025 to extend him, it could cost them considerably more money. Shakir could become the team's number one in terms of receptions, and yet be one of the lowest-paid receivers in the league with stats like that.
CB - Christian Benford
Most fans consider Christian Benford the team's number two corner, but by season's end, that perception may very well change, and be seen as the top CB on the roster. Per PFF, Benford finished with a grade of 83.0, higher than Rasul Douglas, and ranked eighth in the league among all corners. Douglas wasn't too bad himself, earning a PFF grade of 81.0, ranking 11th in the NFL. Benford came in as a rookie and stole the job away from first-round selection Kaiir Elam, and hasn't looked back ever since.
I have no doubt he will continue his upward trajectory and after the 2024 season, will command a much higher price tag than his current deal, which is four years, $3.85 million. He has a cap hit this season of just over $1 million. He has already outplayed this contract and deserves an extension. The Bills are in the same position with Benford as they are with Khalil, the longer they wait to extend him, the more expensive he's likely to become. The Bills most likely get a new deal done next summer though and lock him up for a few more seasons.
LB - Terrel Bernard
I remember sitting in my living room watching the 2022 NFL Draft, and when the Bills selected Terrel Bernard with the 89th overall pick in the third round. It seemed an odd pick at the time since the team was all in with Tremaine Edmunds and Matt Milano, but it's obvious that Beane saw Bernard as Edmunds's replacement. There was writing on the walls and the Bills probably knew it was a longshot to retain Edmunds after the 2022 season, and made what most fans believed to be a massive reach in the draft for Bernard. Bernard agreed to a four-year deal, worth just over $5 million, and has a cap hit this season of only $1.39 million. Now he's looking like a steal in the third round.
We know the story though, Bernard got the start and was dominant almost right away. His talents were sorely missed in the playoffs against the Chiefs, so much so that I have little doubt that Buffalo would have won that game, had he been able to play. Bernard was phenomenal in 2023, finishing with 143 tackles, three interceptions, and 6.5 sacks. If Bernard turns in this type of season again in 2024, look for his price tag to skyrocket as well. Will the Bills be able to re-sign him, or will he explore free agency after the 2025 season? Again, Beane needs to try to get this extension no later than next summer.
RB - James Cook
James Cook had a quietly stellar season in 2023. He was fourth in the league in rushing with 1,122 yards, becoming the first Bills running back to eclipse the thousand-yard mark since LeSean McCoy in 2017, Cook also finished sixth in all-purpose yards last season, and was one of the best backs in the NFL. When Joe Brady took over last season, the rush attempts increased by nearly 12 a game. If this trend stays true in 2024, expect Cook to have a huge season.
Cook was a second-round pick in 2022 and signed a four-year deal worth $5.83 million. He carries a cap hit this year of $1.59 million and is the highest-paid of the four listed. The question is, will he get a second contract with the Buffalo Bills? Buffalo just drafted Ray Davis, who many believe might be the future at the position. With the shelf-life of running backs these days, don't be shocked if the Bills let him hit free agency, and elect to move forward with Davis.