How Buffalo Bills’ 2025 contract extensions could impact 2026

As fans we often complain that the Buffalo Bills don’t retain their own draft picks. Yet this past offseason, the Bills went all-in this past offseason in locking up the core of their young roster with a massive wave of extensions.

Those extensions included quarterback Josh Allen, running back James Cook III, defensive end Greg Rousseau, linebacker Terrel Bernard, wide receiver Khalil Shakir, and cornerback Christian Benford. On paper, it was a stabilizing step for the franchise a commitment to continuity and “draft and develop” as the foundation of the next era.

But there’s another side to these deals when said extensions don’t work out: the dead cap.

The goal for 2025 and beyond was clear:

• lock in a young core

• stabilize the locker room

• protect Josh Allen’s prime

• avoid another mass exodus like years prior

• get ahead of rising contract markets at key positions

The strategy comes with risk. If these players hit, the Bills would have one of the most cost-controlled, stable cores in football. If they don’t? Buffalo will be stuck with limited flexibility to pivot while potentially eating some of the largest dead cap the organization has ever carried.

And as fan patience wears thin while some of these players struggle to meet heightened expectations, rumblings have started about whether these extensions are already weighing down the Bills financially. Before anyone floats “move on from Player X” as a solution, the 2026 numbers paint a very different reality.

These are the official contract terms and the resulting 2026 dead-cap liabilities. If the 2026 savings number below is negative, it means the team would LOSE cap space by parting ways with the player.

Josh Allen, QB

Extension: 6 years, $330 million2026 Dead Cap: $173,469,0002026 Savings if released: –$117,081,000

Not only is Allen untouchable, financially and figuratively — this isn’t a surprise. Franchise quarterbacks are built this way. But it does illustrate how significant the cap ramifications have become after multiple restructures and rolling bonuses forward.

James Cook, RB

Extension: 4 years, $48 million2026 Dead Cap: $12,200,0002026 Savings: –$6,320,000

Cook is the only one living up to his extension. He started off the season going crazy, any cooling off has been a result of play calling and the Bills having zero threats elsewhere.

Christian Benford, CB

Extension: 4 years, $69 million2026 Dead Cap: $35,036,0002026 Savings: –$27,580,000

Benford’s deal raised eyebrows the moment the numbers dropped. But he was poised for a breakout year and the organization saw the trend for top-tier corners. So while  expectations for Benford skyrocketed, now so did the cap consequences.

Terrel Bernard, LB

Extension: 4 years, $42 million2026 Dead Cap: $11,800,0002026 Savings: –$6,328,000

In a post-Tremaine Edmunds world, Bernard was extended to become the long-term heart of the defense. But his inconsistency and injuries in 2025 have fans questioning whether the Bills bought in too early. His cap hit is $5.4 million in 2026… but rises to $11.8 million if released.

Greg Rousseau; DE

Extension: 4 years, $80 million2026 Dead Cap: $32,920,0002026 Savings: –$21,110,000

Rousseau was paid like a rising pass-rushing star. His impact has fluctuated partly due to scheme, and partly due to the rotating defensive line approach. The silver lining is that he’s played the run well, which might not say much with how badly the Bills have struggled versus the run. Either way, his contract structure guarantees he remains part of the plan.

Khalil Shakir, WR

Extension: 4 years, $53 million2026 Dead Cap: $15,600,0002026 Savings: –$8,808,000

Shakir is a fan favorite and has been one of Allen’s most-reliable targets. But $13M+ AAV comes with expectations of consistent output, which we have not seen this year. But let’s not throw that weight all on Shakir, his struggles this season may be more due to the lack of targets than performance issues.

Extensions weren’t the only moves contributing to Buffalo’s mounting future dead cap. The team also executed several restructures to free space in 2025.

Those decisions add even more 2026 burden:

• Taron Johnson restructure added $1.75M (now $9.5M total dead cap)

• Dion Dawkins restructure added over $7M (now $21.9M total dead cap)

• Ed Oliver restructure added over $9.435M (now $21.5M total dead cap)

• Matt Milano restructure added over $1.293M (now $11.07M total dead cap)

Every restructure is essentially a short-term credit card swipe. Eventually, the bill comes due, and it all comes due at once if a player is released.

All of these players would be entering a walk year within the next year or two with the exception of Allen. That would have meant:

• multiple large extensions due at once;

• bidding wars for CB, DE, WR, and RB;

• Allen’s market exploding beyond reach

• the same “we lost too many starters at once” narrative;

• comp picks? Yes, but holes everywhere and a problem with drafting.

The Bills might not be getting perfect returns on all these investments right now. But whether the fan base believes in these players or not, the organization already made its bed and these are the guys. The cap says so. Because once you look at the cap implications, one thing becomes overwhelmingly clear: these players aren’t going anywhere. Not in 2026. Buffalo didn’t just extend its core; it financially cemented it.

It must be understood, though, that cap disasters aren’t only created by a miss on extensions, or a bad free-agent signing. Those cap disasters are also created by inaction. If the Bills waited until these players peaked, their price tags would soar.

Instead, Bills general manager Brandon Beane paid for and chose long-term stability, while receiving some short term flexibility. It was a gamble for sure. But now, they have created a roster that must perform. Because financially, they can’t pivot away from it.

So, can this core elevate its play to match the investment? If not, 2026 could be another year filled with wasting the talent of Josh Allen and James Cook.