The Buffalo Bills had a need at safety when they released veteran Aaron Williams on Thursday, and they filled that hole later in the day by agreeing to a deal with unrestricted free agent Micah Hyde.

The Bills also announced a deal with former Cleveland Browns safety Jordan Poyer. Here is more on the Hyde move:

Terms: Five years, $30.5 million with $14 million guaranteed.

ESPN 150 ranking: No. 55

Grade B-plus: This marks the Bills' biggest deal of free agency so far, averaging $6.1 million per season. On the surface, that is an expensive price for Hyde, who has started 18 of 31 games over the past two seasons. However, Hyde offers value as a safety, cornerback, kick returner and punt returner, which could make him worth the money. Those were all positions of need for the Bills, and Hyde was one of the better options available on the market.

What it means: The Bills have secured a more reliable starter at safety after releasing Williams, who was limited to 10 games the past two seasons due to neck injuries. They now have two big contracts at safety between Hyde and Corey Graham, but Graham's deal will drop off their books after the upcoming season. Between Hyde and Poyer, the Bills have added much-needed depth at safety in the opening hours of free agency.

What’s the risk? The dust has yet to settle from the Bills' flurry of roster moves in recent days and full details from contracts have not yet emerged, making it difficult to ascertain exactly how much cap space the team has remaining. However, Hyde's deal will take $4 million away from the Bills' remaining cap space. Could they have found a lower-cost option and spread out their cap space over more positions -- particularly wide receiver and safety? Possibly. Given the Bills' need for help at safety, the reward seems worth the financial risk.