Bills decline to match Chris Hogan's offer sheet from Patriots

The Buffalo Bills have declined to match the offer sheet that restricted free agent Chris Hogan signed with the New England Patriots. The Patriots signed Hogan to a reported three-year, $12 million offer sheet that was heavily guaranteed, according to Ian Rapoport of NFL Network.

Hogan, 27, developed into a solid part of the Buffalo offense in the last two seasons after first signing with the team's practice squad in 2012. Prior to that he was an undrafted free agent who signed with the San Francisco 49ers and made brief stops with the New York Giants and Miami Dolphins.

In the last two seasons Hogan has 77 receptions for 876 yards and six touchdowns, but received an original round tender from the cash-strapped Bills as a restricted free agent. That means that since the Bills will not match the offer made by the Patriots, the team will receive a draft pick equal to the round that Hogan was selected in. But since he was undrafted, the Bills will be left with nothing.

According to Over The Cap, the Bills had just over $4 million in cap space on Friday morning, and that includes the $1.671 million cap hit due to Hogan's one-year restricted free agent tender. By upping his cap hit, Hogan would absorb the majority of the last little bit of cap space Buffalo has left.

The Bills had five days to match the deal, but this quick denial shows that the Patriots got their offer right.