The Facts: Following up on the ongoing story. ... Clay has signed with the Bills. Now he’ll wait five days to see if he’ll play for the Bills. Vic Carucci of the Buffalo News reports that it’s a five-year, $38 million contract with more than $20 million guaranteed.
Diehards Line:
Clay has been tagged as the Dolphins’ transition player, meaning the Dolphins have the right to match any offer sheet Clay signs. As PFT's Michael David Smith suggests, it seems unlikely that the Dolphins would match that offer, given that they’ve already signed tight end Jordan Cameron to a two-year contract. The Bills also have about $4 million more in cap space than the Dolphins do, so the Bills may have structured Clay’s deal to have a big cap hit this season, making it hard for the Dolphins to match. They have five days to make the decision. Stay tuned.