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Bills will keep Tyrod Taylor after restructure

Miami Dolphins v Buffalo Bills

ORCHARD PARK, NY - DECEMBER 24: Tyrod Taylor #5 of the Buffalo Bills runs the ball against the Miami Dolphins during the first half at New Era Stadium on December 24, 2016 in Orchard Park, New York. (Photo by Brett Carlsen/Getty Images)

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The Bills are keeping quarterback Tyrod Taylor.

The team announced on Wednesday that it has agreed to terms with Taylor on a restructured contract. The Bills had until Saturday to make a decision on Taylor’s 2017 contract option.

“We are excited about the opportunity to keep Tyrod with the Bills,” new Bills coach Sean McDermott said in the team’s statement. “I’ve gotten a chance to know Tyrod and study him over the past several weeks and he is both a great person and competitor. [General Manager Doug Whaley] and I are confident this was best move for the Bills at this time.”

Taylor, 27, has been the Bills’ starter for the last two seasons and has thrown 37 touchdown passes in that time. His agreement to stay in Buffalo affects the quarterback market and might directly affect the plans for several teams as Taylor was expected to draw immediate interest had he hit the open market.

News of Taylor’s restructure came not long after the Associated Press reported that the Bills had reached out to veteran quarterback Brian Hoyer. That match would have made sense had the Bills released Taylor, who was a backup with the Ravens for four seasons before coming to Buffalo.