Ranking Outcomes in Buffalo Bills, James Cook Contract Saga

Ranking Most Likely Bills, James Cook Contract Endgames

1. Cook Plays, Enters Free Agency in 2026

Buffalo doesn’t have a ton of financial flexibility. It owns just $1.8 million in salary-cap space entering the latter stages of the offseason, according to OverTheCap. The early outlook for the 2026 campaign actually shows the Bills about $400,000 over the projected cap.

Although Beane will be able to restructure contracts to create some wiggle room next year, there simply isn’t the space needed to overpay a running back. It’s the league’s most easily replaceable position. A combination of Davis, Johnson, and a mid-round draft pick would be fine.

In turn, the Bills will likely use Cook heavily in 2025 and then allow him to hit the open market next year. It’s hard to imagine the two-time Pro Bowl selection coming close to his desired $15 million, even in free agency, however.

2. Bills Trade Cook

This section covers both a potential preseason trade or a midseason deal ahead of the deadline.

The Bills would likely look to move Cook during camp if he decides to hold out. This isn’t a situation where the running back has a ton of leverage because the trade market would probably be modest at best, and it’s no guarantee the interested teams would immediately give him a lucrative long-term extension.

Meanwhile, a midseason trade is possible if Davis is showcasing signs of a second-year breakout. Buffalo could then try to move Cook for a few future assets rather than lose him for nothing at season’s end. This is a pretty unlikely scenario from a standalone perspective, though.

3. Cook Signs Short-Term Extension

If Cook and the Bills do come to terms, it’ll almost assuredly be a one- or two-year extension. It also would probably come in well under $15 million. It would give the running back some financial certainty, though at the cost of an earlier trip to free agency.

Make no mistake: the 25-year-old University of Georgia product if an important part of the Buffalo offense. He scored 18 total touchdowns in 16 games last year. So, a short-term deal would make a lot of sense for Beane, but it’s unclear whether Cook’s representatives will agree.

4. Bills Use Franchise Tag in 2026

This isn’t the best option for either side, but it may still happen. The early projection for the 2026 running back franchise tag is $14.2 million, per OTC. That’s close to Cook’s preferred number. It could ultimately be Buffalo’s only way to keep him without a long-term commitment.

A lot depends on how the 2025 season plays out, though. Is Cook once again one of the NFL’s most productive backs? Does Davis struggle to impress during his second pro season? The franchise tag comes into play if the Bills fear a massive drop-off at the position.

5. Cook Signs Long-Term Extension

It’s virtually impossible to see the Bills meeting Cook’s demands on a three-plus-year deal. Committing something like $75 million over five seasons to a running back just doesn’t make sense. That’s especially true for a team without much cap flexibility in the years ahead.

That said, if Cook’s asking price eventually drops to $10 million or less, the outlook could change. Buffalo would probably be more open to keeping one of the NFL’s most effective early-down backs on an extension in the neighborhood of four years and $36 million.

6. Cook Holds Out, Enters Free Agency in 2026

Cook hasn’t suggested he’ll consider an in-season holdout. He didn’t show up for the start of voluntary offseason workouts, but that wasn’t a surprise. In all likelihood, he’ll sit out all of the voluntary sessions in the coming weeks and make brief appearances for the mandatory practices.

That said, the Bills must prepare for a scenario where he refuses to play without a new contract. It’s not out of the realm of possibility that the rusher opts to sit, and no other team is interested in trading for him under the circumstances. If he stands firm at $15 million, that could lead to a season-long absence.

Even though it’s a long-shot outcome, it would hurt the Bills’ offense in 2025. It would also be interesting to see what type of contract he’d receive as a free agent next year if he doesn’t play at all this season. Again, it’s a highly unlikely outcome, but it can’t be ruled out.