First off, great play by the Bills, this puts Miami in a tough situation.
With that said, I'm going to go out on a limb and predict Miami matches the offer. For one, people tend to think in the short term and worry about longer term consequences down the road. If Miami lets Clay walk to Buffalo, the Bills have substantially more offensive weapons in 2015 than Miami.
In addition, everyone keeps saying don't worry about cap room for the Bills in 2016 bc the salary cap is expected to get a hike. Well, even though Miami has money tied up in some key players already, that same expected hike would also help Miami deal w the large dollars allocated for Clay.
Anyway, hope I'm wrong, the waiting game is on!
You beat me to it!