It’s a done deal. On Friday, the Bills signed Josh Allen to a six-year contract extension. The deal is worth $258MM in total with $150MM guaranteed (Twitter link via Adam Schefter of ESPN.com). That includes $100M fully guaranteed upon signing, the largest in the history of the sport (Twitter link via NFL.com’s Ian Rapoport).
Allen is now signed through the 2028 season with a deal to reflect his performance. Last year, the 25-year-old set the Bills’ single-season franchise records for touchdown passes (37), completions (396), completion rate (69.2), passing yards (4,544), and total TDs (46). If not for Aaron Rodgers‘ even more impressive season, Allen would have been the NFL’s 2020 MVP.
The forthcoming details of the deal will reveal Allen’s true standing among the league’s highest-paid QBs. However, it’s expected that the deal will include a team-friendly structure to help the Bills’ cap situation in the short term. He seems to have leapfrogged Cowboys star Dak Prescott in both average annual value and guarantees — Prescott’s four-year, $160MM pact puts him at $40MM per year with $126MM in guaranteed cash.
The Bills did well to lock up Allen before other QBs got their deals. Of the three quarterbacks who have landed on the extension radar this offseason — Allen, Lamar Jackson, Baker Mayfield — Allen is coming off the best season. He didn’t start his pro career quite like Jackson or Mayfield, but he has steadily improved, leading up to last year’s dominant showing.
Allen, fresh off Second Team All-Pro and Pro Bowl selections, now ranks as one of the highest-paid players in NFL history.