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Geno Smith is my first choice, but Tyler Wilson is more realistic as Buffalo won't have the first pick of the draft.
Realistically, the Bills will need to draft their next franchise quarterback. Generally, franchise quarterbacks don't hit the free-agent market.
The only exception to this rule during the offseason may be Joe Flacco.
Flacco is looking for a long-term extension from the Ravens, but talks have stalled. If the Ravens and Flacco cannot agree, it's likely that he'd be franchised.
It may not be popular, but I'd be willing to hand over two first-round picks to the Ravens in exchange for a legitimate quarterback. This entire scenario is not likely, so the Bills will need to look the 2013 NFL draft.
Here are a few quarterbacks the Bills will certainly take a look at in Rounds 1 or 2:
Geno Smith, Matt Barkley, Tyler Wilson, Tyler Bray, EJ Manual, Logan Thomas, Landry Jones
Realistically, up to five of these quarterbacks could go in the first round, so if the Bills want an instant starter at the quarterback position, it'll have to come in the first round.
Currently, here are the teams that have a worse or equal record to the Buffalo Bills who could realistically draft a quarterback in the first round:
Cleveland, Tampa Bay, Kansas City, Oakland, Jacksonville and the New York Jets.
Cleveland: Just drafted Brandon Weeden, but he'll turn 29 years old this month. Call it the "Jimmy Clausen" clause. Carolina has no issue drafting Cam Newton after giving Clausen a one-year trial run. If it doesn't start winning soon, it's very likely it'll take Geno Smith in the NFL draft.
Tampa Bay: Out of the teams listed, it is the least likely to take a quarterback, but Josh Freeman's play has regressed. The team has plenty of needs, but if it falls in love with a quarterback, the Buccaneers may select a quarterback in round one.
Kansas City: Matt Cassel and Brady Quinn. When these are your top two options at QB, you know you need to draft a franchise QB.
Oakland: Unless a miracle occurs and the Raiders make the AFC title game, they'll have their first-round pick in 2013. Don't be surprised if they select a quarterback with the pick. Carson Palmer hasn't panned out, and Terrelle Pryor hasn't shown any signs that he's an NFL-caliber QB.
Jacksonville: Blaine Gabbert has not shown any signs that he's a franchise quarterback in the NFL. Jacksonville has some offensive weapons, but without a franchise quarterback, the only place the Jaguars may go is to another NFL city.
New York Jets: The fans have soured on Mark Sanchez, and the Tim Tebow experiment will start soon-enough. If the Jets don't have any success with Tebow, look for Rex Ryan to draft a quarterback in Round 1 in hopes of saving his job.
If the Bills want to find their franchise quarterback, they can no longer wait and hope that one falls to them in the draft. They need to draft their signal-caller in the first round and perhaps trade up to get the exact quarterback they want.