It’s been rumored for weeks, but now it’s official — the Buffalo Bills won’t be picking up the fifth-year option of wide receiver Sammy Watkins.

This means that Watkins, whom the Bills selected with the fourth overall pick in the 2014 NFL draft, will become a free agent after the 2017 season.

Watkins’ time in Buffalo has been full of peaks and valleys. When he’s healthy, he’s an elite wide receiver who is a reliable threat for whoever is playing at quarterback. His 2015 season proves this to be true, as the former Clemson Tiger caught 60 passes for 1,047 yards that year.

However, he’s not always healthy. Watkins had foot surgery last offseason, and complications relating to the injury resulted in the 23-year-old missing eight games in the 2016 campaign.

Now that the Bills have declined to pick up Watkins’ option, does that mean he is already on his way out of Buffalo? Not at all.

What the Bills are doing here is giving themselves some flexibility. If Watkins does have another injury-shortened season where he is unable to produce, they can let him walk into free agency and also save themselves a few million dollars.

However, if Watkins does return to his 2015 form, Buffalo could sign him to a multi-year deal. Declining to pick up Watkins’ fifth-year option gives the Bills the ability to negotiate a long-term contract extension with him sooner rather than later.

Even if Watkins does have a productive year but does not want to sign a multi-year extension, Buffalo could slap the franchise tag on him and keep him around for at least the 2018 season.

Fans shouldn’t be upset that the team did not pick up Watkins’ option. If the receiver continues his development, he will continue to be a Bill.