Was trading Stefon Diggs a poor financial move by the Buffalo Bills?

Occasionally, cost must factor in more than just dollars and cents

The Buffalo Bills authored the NFL’s biggest news of the day on Wednesday when word spread that the team was trading wide receiver Stefon Diggs to the Houston Texans. What had seemed impossible, or at least fiscally unwise, became reality to all of Bills Mafia and those who closely follow the NFL.

It was long-thought that moving on from Stefon Diggs wouldn’t happen given the cost to do so would be more detrimental than paying him to play for them in 2024. As it played out, moving on from Diggs means an additional $3.2 million hit to the cap compared to what Diggs would have cost playing in Buffalo this season. Had he stayed, his salary cap hit was set to count for $27.854 million in 2024. Now traded, Diggs’ contract counts for $31.1 million against the Bills’ 2024 salary cap.

Releasing Diggs now instead of next offseason represents $10 million more in dead cap, but it also saves $19 million in cash that was earmarked to be paid to him this season.

Saying good bye was never going to be easy, and now the team has over $3 million less to work with in finding additional talent. Thankfully, there is over $10 million set to become available on June 1, as part of the team moving on from cornerback Tre’Davious White (designated a post-June 1 cut).

But back to general manager Brandon Beane’s decision to part way with Diggs. Was it a good idea, especially at this point in time? Opinions will vary, but Beane himself stated that “the timing was right.”

Though the timing is never right when it comes to being a few million in the hole, it’s important to consider a few things as it relates to Diggs. He’ll turn 31 in November. The last two regular seasons Diggs’ play fell down the hill a bit. It’s not as though his target shared dipped in either season. He’s only going to get older, and it’s seldom that a receiver’s best years happen after the age of 30.

Had Diggs remained with the Bills through the life of his contract (which included a recent extension), he would’ve been paid around $25 million in each of the next four seasons. His base salary was for a guaranteed $18.5 million in 2024. His base salary for each of the 2025-2027 seasons is set to count for $18 million — but isn’t guaranteed in any of those seasons.

The concern with Diggs’ contract came into play when the team restructured his contract in 2023

Due to that contract extension in 2022 — which included a hefty signing bonus — and the subsequent restructure a season later, it was unrealistic to expect Diggs would be cut before the 2025 season. Had Beane decided to move on after this season, there was a somewhat palatable $22 million dead-cap hit to absorb.

It remains to be seen what Diggs’ role will be with the Texans, but he isn’t necessarily that team’s clear-cut top receiver — as he would have likely remained with the Bills. Diggs’ staying would have meant an even older player (with a penchant for headlines out of left field) costing the team as though they were paying a WR1 in his prime. Is that who today’s Stefon Diggs is? And if the answer is “yes” for Buffalo, then it’s worth considering if that’s a wise decision.

Additionally, one can’t help but wonder how willing Diggs would have been taking a back seat to any rookie with designs on replacing him. Would he provide mentorship, or approach the situation with an adversarial stance?

It’s easy to recall how huge the trade was that brought Diggs to town — and all the wonder about what the Minnesota Vikings would do to replace such premiere talent. Enter Justin Jefferson. Is Buffalo guaranteed to draft the next Jefferson? No, but the Bills need to lean on the draft more heavily when investing in receivers. Finding talent in the NFL Draft provides teams with cost-controlled four-year contracts. For players drafted in Round 1, teams can exercise the fifth-year option and pay them an average from among the salaries of the top players at a given player’s position.

It’s going to be painful this season. Trading Diggs didn’t make the Buffalo Bills better, and it cost them plenty to move on. The following pair of tweets clearly illustrate the angst:

All things considered: The decision to part ways now was simply one of a few very challenging moves needed to properly reset the roster with an eye on remaining competitive. Stefon Diggs, on his own, costs 10% of the team’s salary cap.

The bright side of things, if Bills Mafia is willing to accept that idea at this point in time, comes with the following shared by Kevin Massare on social media:

“The Bills saved an actual 19m in cash this year combined with the fact they open up 28M in cap space next year are factors not being discussed. The Bills are setting up for the future (31m available next year)”

Organizationally, One Bills Drive were up against it this offseason, and fans watched as pillar after pillar was shown the door. Instead of retiring into the sunset, all-time players were asked to leave and find work with another team. The same came to pass for Stefon Diggs. Fortunately, the team appears poised to rebound well in cap space heading into the 2025 NFL season. What they do with that available space is best left to those with the most vivid of dreams.