The Bills and Dolphins are locked in a tight end battle, and Charles Clay stands to benefit greatly from it.
The Bills and Clay agreed to a five-year, $38 million offer sheet Tuesday, according to the Buffalo News. The deal, which would make Clay one of the NFL's highest-paid tight ends, includes $20 million in guaranteed money, per NFL.com.
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Miami placed its transition tag on Clay this offseason and thus made him a restricted free agent. The Dolphins have five days to match the Bills' offer.
Clay, 26, had 58 receptions for 605 yards and three touchdowns last season.
The Dolphins already have insurance in case Clay leaves for Buffalo. They signed former Browns tight end Jordan Cameron to a two-year deal last week.
The Bills traded for quarterback Matt Cassel earlier this month and still hope EJ Manuel can bounce back from last year's benching. Whichever quarterback wins the job will have plenty of support in wide receivers Sammy Watkins and Percy Harvin, running back LeSean McCoy and, perhaps, Clay.