Latest bills clear 7 5 million in 2016 cap space by extending cordy glenn

Mike RodakMay 7, 2016, 11:20 AM ET

If the Buffalo Bills want to get a deal done with cornerback Stephon Gilmore or quarterback Tyrod Taylor this offseason, they now have some salary-cap wiggle room to do it.

NFLPA records show that the team saved about $7.5 million in 2016 cap space by signing 26-year old left tackle Cordy Glenn to a five-year extension this week. Glenn, who had counted $13.7 million against this year's salary cap under his franchise tag, will now count just $6.2 million against the Bills' salary cap this season.

The Bills now have $14.207 million in 2016 cap space, records show. A portion of that cap space will go to signing the team's seven draft selections and to an emergency fund for in-season signings, but the Bills now have some financial flexibility if they want to put pen to paper with Gilmore, their top cornerback entering the final year of his rookie contract, or Taylor, their starting quarterback also entering the last year of his deal.

The team can also carry over its unused salary cap space from 2016 into the 2017 season, so getting those deals done this year isn't a necessity. After signing Glenn, the Bills are projected to have roughly $40 million in 2017 cap space based on an estimated league-wide salary cap of $160 million for the 2017 season.

Glenn's deal includes $36 million in guaranteed money and has a total base value of $60 million, which can increase to $65 million if he hits incentives.

Here are the details of his deal:

2016 SEASON

Base salary: $3 million