The Buffalo Bills discreetly increased Josh Allen’s compensation this season.
Michael Ginnitti from Sportrac reported that the Bills shifted $30 million into Allen’s compensation for this year. They had previously restructured his contract in March to create $16.7 million in cap space for the upcoming season, but the new funds weren’t disclosed at that time.
“The #Bills renegotiated QB Josh Allen’s contract this offseason, pulling $30M of cash into his 2024 compensation,” Ginnitti shared on X.
He also noted that this adjustment reduced Allen’s cap hits for the next two seasons, cutting it by $17 million for 2024 and $13.3 million in 2026. This could provide the Bills with valuable financial flexibility as they look to invest more in the future.
Allen’s cash increase came amid speculation about the six-year, $258.3 million extension the Bills quarterback signed in the summer of 2021, which has since been surpassed by several quarterbacks. The Bills quarterback has insisted that he’s not concerned about how much he’s making, telling reporters this summer that he’s confident everything will work out.
Josh Allen Speaks Out on Salary
“Everyone is going to have their day,” Allen said. “I’m glad to see everyone getting what they deserve, right? As the game evolves and players continue to get paid, the market is what it is. I’m content with my situation right now. I had my moment a couple of years ago, and I’m sure I’ll have another one in the future. The main focus is playing football to the best of my ability; everything else will fall into place.”
Some have speculated that Allen may be due for a new contract. Pro Football Talk’s Mike Florio pointed out that as quarterback contracts keep rising, Allen’s $258.3 million extension becomes increasingly noticeable.
“The Bills might not want to hear this, especially with upcoming cap charges of $60.7 million, $56.4 million, $49.4 million, and $45.7 million, but Allen is underpaid,” Florio wrote. “He should seek a new deal. He deserves a new deal. If his agents are actively pushing for it behind the scenes, he could be the first to hit $60 million.”
Bills Clearing Cap Space
The Bills have had to make some tough salary cap decisions over the past year, letting go of several veteran players this offseason, including cornerback Tre’Davious White and center Mitch Morse. They also traded wide receiver Stefon Diggs, a significant move that resulted in a dead-money charge of $31.096 million for this season.
Fortunately, the Bills received some relief with a league-record cap increase of $30.6 million for the 2024 season.
“Every dollar you can get helps,” Bills general manager Brandon Beane told The Associated Press. “We were conservatively estimating a figure in the 240s, so seeing it at 255 definitely made me smile.”
Beane emphasized that the team is focused on the future and aims to create flexibility for potential moves in the upcoming seasons.
“Now that we know the cap, we’re figuring out how to get under it and how much space we can create without setting ourselves up for a big problem in 2025 or ’26,” he said.
