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Charles Clay signs offer sheet with Buffalo Bills

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The Miami Dolphins placed the transition tag on tight end Charles Clay earlier this month, knowing that he could sign an offer sheet with another team. That's exactly what he's done.

Clay signed a five-year, $38 million offer sheet with the Bills, NFL Media Insider Ian Rapoport reported Tuesday, per a source involved. Vic Carucci of the Buffalo News first reported the news, and Bills general manager Doug Whaley confirmed Wednesday morning they submitted an offer sheet for Clay.

The Dolphins now have five days to match the offer sheet or lose Clay to the Bills without getting anything in return. It would be a surprise if the Dolphins matched it. With Clay set to receive $24.5 million over the first two years, Rapoport notes the deal is structured to attack Miami's salary cap in 2016. In comparison, Rob Gronkowski's average annual salary is about $9 million.

The total deal is "only" for $38 million for five years. In essence, the Bills are gambling that Clay stays on the roster for the length of the deal. If he gets hurt in his second season, they will have paid him like a top-five NFL wide receiver. 

Miami recently signed Jordan Cameron to a two-year, $15 million contract, seemingly in anticipation of Clay leaving town. NFL Media columnist Michael Silver reports that the Dolphins' last offer for Clay was four years for $27 million, including less than $14 million guaranteed. That offer came after Cameron signed.

Clay would give the Bills another unique weapon that can move around the offensive formation, much like Percy Harvin and LeSean McCoy. Sammy Watkins and Robert Woods adds to the team's arsenal, and new offensive coordinator Greg Roman loves to get creative. Buffalo's quarterback situation may be up in the air, but this is one of the most talented teams in football on both sides of the ball.

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