Wide receiver Eric Moulds and the Buffalo Bills have come to terms on a new contract, The Buffalo News has learned.
Greg Johnson, one of Moulds' New Orleans-based agents, said Wednesday night there are a few details that need to be worked out regarding incentives.
"But for all practical purposes, the deal is done," Johnson said by phone.
Moulds is scheduled to arrive in Buffalo today to finalize the contract, Johnson said.
Though Johnson refused to go into details about the deal, he said it will make Moulds "a multimillionaire for life."
According to NFL sources, it is a six-year deal worth between $40 million and $45 million. The signing bonus is believed to be at least $12.5 million.
The contract is less than the eight-year, $56 million deal wide receiver Keyshawn Johnson got from Tampa Bay last year. Johnson also received a $13 million signing bonus.
But Greg Johnson said Moulds isn't complaining.
"I'm extremely happy and so is Eric," said Johnson, who represents Moulds along with Harry Henderson. "This is a very good deal, a very fair deal. It's a deal in which everybody wins."
Johnson praised the Bills' organization, particularly team executive Jim Overdorf, for its efforts to get a deal done. Overdorf was the front man in negotiations after General Manager John Butler was fired, and continued to work closely with Johnson and Henderson after President and General Manager Tom Donahoe came aboard.
Donahoe and Overdorf were unavailable to comment, but Donahoe said last week he was encouraged by the progress in negotiations.
"Harry and myself have always said the Bills are a class act," Johnson said. "We enjoy working with them, and they added to their class by getting Tom to come in. And Jim Overdorf is such a whiz with numbers. He understood what we could and couldn't do. We were on the same page for most of the process. It's great to work with an organization that's on top of things."
The signing completes a major offseason priority for the Bills. Moulds was set to become an unrestricted free agent March 1. Getting a deal done keeps him off the open market and keeps Buffalo from having to use the franchise or transition tag, a move the Bills wanted to avoid.
Johnson said Moulds probably would have gotten more money from other teams in free agency. But Moulds made it clear at the start of negotiations that he wanted to remain in Buffalo.
"Eric truly believes Buffalo is the best place for him, and so do we," Johnson said. "We're glad something could be worked out."
Keyshawn Johnson's disappointing season in Tampa Bay also played a role in Moulds' desire to stay put.
"Eric and Keyshawn are the best of friends, and they work out together," Greg Johnson said. "But to be as unhappy as Keyshawn appeared to be this year is not something Eric wanted. He's comfortable with the people in the organization and the city. That may not have been the case somewhere else. Eric Moulds and Buffalo are a perfect fit. This is where he wants to finish his career."
Johnson added that the Bills' apparent move to a West Coast offense also appealed to Moulds, who stands to benefit greatly from the change in offensive philosophy.
"It's an offense Eric would thrive in," Johnson said.
Moulds, 27, a five-year veteran, made the Pro Bowl for the second time in three seasons after setting a franchise record with 94 catches, fourth best in the AFC. His 1,326 yards is the second-highest total in Bills history, trailing his 1,368-yard season in 1998.
He posted seven 100-yard games, and his streak of 49 consecutive games with at least one catch is the longest in team history.