The Buffalo Bills announced Wednesday they have restructured Tyrod Taylor's contract to keep the quarterback with the team.
The deal covers five years and includes a $7-million signing bonus, the Buffalo News has learned. Taylor's salary cap number for 2017 will be reduced from $16 million to just under $10 million, a source familiar with the agreement said.
After the first two seasons, the deal will run on a year-to-year basis.
The move made it clear the Bills were not prepared to keep Taylor under the terms of his previous agreement, which called for him to receive $30.75 million in guaranteed money if he remained on the roster past Saturday.
"We are excited about the opportunity to keep Tyrod with the Bills," coach Sean McDermott said in a statement released by the club. "I've gotten a chance to know Tyrod and study him over the past several weeks and he is both a great person and competitor. Doug and I are confident this was best move for the Bills at this time."