Chris Mortensen first broke the news that Buffalo was securing Allen to a six-year contract extension worth $253 million.
ESPN’s Adam Schefter followed up with more details concerning Allen’s monster pay bump. “It’s a six-year deal worth $258 million, including $150 million guaranteed, per source,” Schefter tweeted. “Josh Allen’s new deal now will average $43 million a year.”
According to Spotrac, that average annual value is now the second-highest of any player across the league, trailing only Kansas City’s Patrick Mahomes. The Chiefs superstar QB averages $45 million annually on the 10-year extension he signed in July 2020, which is worth up to $503 million over 12 years.
While $258 million is a ridiculous amount of money for one player, it’s important to remember that Allen is still only 25 years old. And based on his increase in production from the 2019 season to last season, this kind of investment was a no-brainer for the Bills.
During the 2020 NFL season, the MVP runner-up amassed 4,544 passing yards and 37 touchdown passes, and as ESPN reported, increased his completion percentage from 58.8% to 69.2% and his rating from 85.3 to 107.2. Proving his versatility at quarterback, he also scored eight rushing touchdowns along with a touchdown reception.
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If Not Done Before the Season, Contract Talks Would’ve Been Halted Until 2022
There was never any doubt that Buffalo would offer Allen, the No. 7 overall pick in the 2018 NFL draft, would agree to a long-term deal, the question was always when would it happen.
On Monday, August 2, Bills general manager Brandon Beane told The Associated Press that they would either agree to a deal by the first week of the regular season or halt discussing an agreement until next year.
“There will be no negotiating in-season,” Beane explained. “At some point we will press the pause button.”
While waiting until 2022 to agree to a deal with one of the most promising quarterbacks in the entire NFL seemed like a decision that wouldn’t sit well with Allen, but he was not stressed.
“It’s honestly the least of my worries whether it gets done or not,” Allen said, per The Buffalo News on July 28. “We’re here to win a Super Bowl. I can’t focus on those things and feel like I can come out here and feel like I can be the best possible teammate, quarterback I can be. My focus is completely on the field.”
NFL Network’s Kim Jones tweeted on July 30, “No current momentum toward deal. Could change. If on, say, Aug 15 there is still no progress, sides could agree to table until after season. Josh knows it’s not IF he gets deal in #BUF but WHEN.”
Allen Loves Buffalo, Never Had Any Intention of Leaving
The Wyoming alum has been vocal about how much he loves the city of Buffalo, and never teased that he would look elsewhere if his contract extension wasn’t ironed out before the season started.
Allen also didn’t want to take so much money that the team wouldn’t be able to add other key players. Back in June, ESPN’s Jeremy Fowler discussed the ongoing contract negotiations on Sportcenter, per Bleacher Report:
“As was told to me, look, he knows he’s going to get paid eventually, the Bills know he’s going to get paid eventually, so neither side is particularly worried about it. I’m told that Allen loves being in Buffalo enough where he’s willing to structure things, ya know, that helps the team a little bit,” Fowler said. “Certainly, he’s not going to take a discount by any stretch—he’s a top-five quarterback. But he wants them to stay competitive in future years with him in the fold.”