Buffalo Bills quarterback Josh Allen has agreed to a new, NFL-record six-year, $330 million contract that includes $250 million guaranteed, per ESPN senior NFL insider Adam Schefter. The new deal keeps Allen playing quarterback for the Bills through the 2030 NFL season. The $250 million guaranteed is “the largest guarantee ever given to an NFL player, sources tell ESPN,” per Schefter.
With Allen winning 2024 AP NFL MVP in February, the timing for a new contract couldn’t be more perfect. News of Allen signing a new deal has been anticipated for some time, due to him playing well below the current market value for his position. He was set to make just $14.5 million in cash for 2025, and his average salary per season came in at $43 million (placing him 14th among NFL QBs).
Operating under the parameters of Allen’s previous contract, Matt Warren had earlier discussed that QB17’s cap hit was guaranteed to be the largest to this point of his career. Though the finer details of Allen’s new deal are not yet available, it’s not clear that his cap hit will be lower than it was scheduled to be under the prior contract’s structure.
Josh Allen’s 2024 stats
The 2024 NFL season saw Allen play the most efficient and proficient football of his career, all while continuing to break Bills team and NFL records along the way. Allen completed 307-of-483 pass attempts (63.6%) for 3,371 yards with 28 touchdowns and six interceptions (77.7 QBR); adding 102 rushes for 531 yards and 12 touchdowns, plus a touchdown reception.
(stats courtesy of Pro Football Reference)
All told, Allen was named NFL AFC Offensive Player of the Week three different times this past season (Week 3, Week 13, Week 15), and received NFL AFC Player of the Month honors once (Week 4). For his efforts, Allen was voted to his third Pro Bowl, and named an Associated Press Second-Team All-Pro. He did all this while sitting out in seven quarters of regular-season action with a Bills victory all but written in history.
In addition to winning 2024 NFL MVP, Allen received the 2024 Art Rooney Sportsmanship Award in recognition of his on-field sportsmanship. He was also named the 2024 FedEx Air Player of the Year.
What’s next for Josh Allen?
In addition to his new NFL contract, Josh Allen has also stepped into the arena of entertainment production by signing a deal with Skydance Sports, LLC. Details of that endeavor have yet to be revealed, but the work that Peyton Manning creates with Omaha Productions may serve as a reasonable comparison.
Oh and he’s getting married this offseason. To an A-list Hollywood actor.
Why was Josh Allen looking for a new contract now?
Allen was set to make just $14.5 million in 2025. He is coming off a season in which he made $60 million, but that’s only because the two sides quietly renegotiated the contract last offseason. They took $25 million of his 2025 compensation and $5 million from 2028 to move into 2024. By moving such a large part of the 2025 compensation, they knew this offseason would be the time for a longer-term fix.
Who is the highest-paid quarterback in the NFL?
Allen’s deal slots him second in average annual value ($55 million) behind Dak Prescott of the Dallas Cowboys ($60 million). As we discussed earlier, it’s the largest guaranteed dollar figure in NFL history.
It needs to be noted that the guarantees in the contract are likely not full guarantees, so Deshaun Watson still owns the largest fully guaranteed contract in NFL history. Allen’s guarantees would include injury guarantees that only pay out if he is unable to play due to an injury sustained on the field.
Stay with us here at Buffalo Rumblings, where we’ll have plenty of additional news and coverage on Josh Allen’s new contract, as well all things Bills related during NFL free agency.
