The Buffalo Bills and pass rusher Von Miller agreed to a renegotiated contract, a team source confirmed Wednesday. The deal has a base value of $8.855 million in 2024 with a chance to make up to $20 million with incentives, the source said.

ESPN first reported the news.

The Bills were between a rock and a hard place with Miller. They had a clearly declining player coming off a torn ACL, but were stuck in the contract for 2024. The Bills came into the offseason with a major cap deficit of over $40 million, and releasing Miller would have added on an additional $8.7 million to his already $23.79 million cap hit. The team also has a dearth of defensive end depth, with only Greg Rousseau and Kingsley Jonathan signed with Miller in 2024.

Although Miller showed pass-rushing flashes late in the year, it was not enough to justify his massive cap hit and owed salary. The Bills made the best of the situation by getting Miller to agree to a substantial pay cut while giving him a chance to earn it all back with a good season. The move helps the Bills open up much-needed cap space, it helps incentivize Miller to get back to his pre-injury form and Miller feels like he’s helping the team win in what he likely understands to be his last year with the organization. Now the Bills find themselves right at the cap, and can make a few cost-effective moves this offseason.

Miller, 34, signed a six-year, $120 million deal with Buffalo in 2022. He logged 21 tackles and eight sacks during the 2022 season. Miller tore his ACL in November of that season before starting 2023 on the reserve/physically unable to perform list. He recorded just three tackles last season, the lowest of his career.

The news of Miller’s renegotiated deal occurs on a day of significant change for the Bills. Buffalo is releasing safety Jordan Poyer, cornerback Tre’Davious White, center Mitch Morse, running back Nyhiem Hines and receiver Deonte Harty, team sources confirmed. These are the latest in a string of offseason moves for the Bills, which traded offensive lineman Ryan Bates to the Bears, reportedly re-signed offensive lineman David Edwards and released defensive back Siran Neal.

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