Charles Clay

Miami Dolphins tight end Charles Clay (42) enters the playing field during the first half of an NFL football game against the San Diego Chargers, Sunday, Nov. 2, 2014, in Miami Gardens, Fla. (AP Photo/Lynne Sladky)

(Lynne Sladky)

Charles Clay is going to make a lot of money over the next 12 months.

The Buffalo Bills signed Clay away from the Miami Dolphins last week after Miami placed the transition tag on the free agent tight end. A quick look at the contract the Bills gave Clay makes it easy to see how they were able to pry him away from Miami.

According to the NFLPA, Clay's contract is a five-year deal worth up to $38 million and carries $24.5 million in guaranteed money. Clay will receive a $10 million signing bonus and then a $10 million bonus at the start of the 2016 league year. The $24.5 million in guaranteed money is more than any other tight end in the NFL. Clay's $7.6 million per year average is also the fourth-highest among tight ends in the NFL.

In terms of what Clay will cost the Bills against the salary cap, the tight end carries a $5 million cap hit in 2015, $13.5 million cap hit in 2016 and cap hits of $6.5 million from 2017 through 2019. The Bills would be able to lower Clay's 2016 cap hit by converting his $10 million roster bonus into a signing bonus, which would spread the cap hit over the rest of the contract. Buffalo also included a no-trade clause for the first three seasons of Clay's deal.

Either way, Clay is going to make plenty of money. The Bills now have $7.459 million in salary cap space, according to the NFLPA, though some of that will be used to sign rookies.