Here is more on the deal:
Grade B+: The exact structure of the consummated deal between Holmes and the Bills is unknown, but it should be in the range of the three-year, $4.5 million deal filed Wednesday with the players union. If so, it is a relatively affordable deal that addresses the Bills' top position of need at the moment. The Bills are banking on Holmes -- who caught 14 passes in each of the past two seasons -- having been underused in the Raiders' offense behind Amari Cooper and Michael Crabtree.
What it means: If the Bills keep the No. 10 overall pick in next month's draft and use it to select a receiver -- likely Corey Davis or Mike Williams -- then that player is the favorite to start at receiver alongside Sammy Watkins. But for the time being, pencil Holmes into that No. 2 spot. He is the highest profile addition to the Bills' receiver position this offseason, joining Corey Brown and Jeremy Butler as free-agent adds to a group that lost Robert Woods and Marquise Goodwin to bigger deals elsewhere. Holmes is a lanky, 6-foot-4 receiver who flashed some potential when he caught 47 passes for 693 yards and four touchdowns for the Raiders in 2014. His role was diminished the past two seasons with the Raiders' additions of Cooper and Crabtree.
What's the risk: In the best-case scenario, Holmes replaces the production of Woods (51 catches, 613 yards and one touchdown) in the Bills' offense this season. That would make Holmes well worth his contract and allow the Bills to rest easier at one of their most pressing positions of need. In the worst case scenario, Holmes is only able to replace the production of former Bills receiver Justin Hunter, who caught 10 passes and scored four touchdowns last season. Like Holmes, Hunter was a lanky red zone target but offered little more. Given his contract, the Bills need more out of Holmes than what they got from Hunter.