Micah Hyde’s contract with the Bills reportedly underwent some significant revisions, as reported by Field Yates of ESPN.
According to reports, this action resulted in the creation of an additional $4.544 million in salary cap space. As part of the reworkings, the organization decided to give him a signing bonus in the amount of $5.68 million of his original contract.
According to Spotrac, in order to receive this bonus, $3.18 million of Hyde’s base pay and $2.5 million of a roster bonus were converted.
The decision to relocate was made public shortly before 4:00 p.m. on Wednesday. By that point, every NFL team must be operating inside the confines of the salary cap.
The new cap hit for Hyde in 2022 is set at $5.656 million.
The player, who will be 32 years old in 2023, has a contract that runs through that year. There is still a possibility that the Bills will extend Hyde’s contract beyond that point in the future.
The general manager of the Buffalo Sabres, Brandon Beane, is no stranger to renegotiating contracts in such a way as to clear space under the salary cap.
During the year 2020, when the NFL’s pay cap was lowered as a result of COVID-19, he did this multiple times.
Micah Hyde Contract
Micah Hyde agreed to terms with the Buffalo Bills on a two-year, $19,250,000 contract that included a $7,500,000 signing bonus and a $15,800,000 guarantee.
Micah Hyde Salary and Net Worth
Micah Hyde gets paid an average of $9,625,000 per year. Hyde will receive a basic salary of $1,120,000, a roster bonus of $300,000, a restructuring bonus of $5,680,000, a workout bonus of $100,000, and an incentive bonus of $500,000 in 2022, while carrying a $5,656,000 cap hit.
His net worth is estimated to be around $1 million -$5 million dollars