Each week seems to bring a new record-setting quarterback contract, and this time it’s Trevor Lawrence signing a five-year deal worth $275 million. This highlights the value of Josh Allen’s 2021 agreement with the Buffalo Bills—a six-year, $258 million deal—that continues to grow in perceived advantage.
As the 2024 season approaches, Josh Allen’s average salary of $43 million places him 11th among quarterbacks. However, with upcoming contracts for players like Dak Prescott, Tua Tagovailoa, Jordan Love, and potentially Brock Purdy, Allen’s ranking is expected to drop further.
Despite being widely considered a Top 5 quarterback, seeing Allen fall out of the Top 15 in salary is noteworthy. Although he is contracted through 2028, the Bills may not wait that long before addressing a new deal.
It’s probable that discussions will begin sooner rather than later, potentially as early as next offseason. Recently, the Bills have modified Allen’s contract structure by converting salary into a signing bonus, thereby distributing the financial impact across the duration of the contract.
Looking ahead to 2025, Allen’s cap hit exceeds $60 million, constituting over 22% of the projected salary cap, per Spotrac. Consequently, renegotiating his contract to extend it by a year or two, possibly through 2030 when he will be 34, could substantially reduce this cap hit in the coming offseason.
This strategic move balances the team’s need for cap flexibility while appropriately compensating Allen as one of the league’s premier quarterbacks.
