Josh Allen signs six-year, $258 million mega-deal with Buffalo Bills

The Buffalo Bills have signed QB Josh Allen to a massive six-year contract extension, linking to the team through 2028. ESPN reporter Chris Mortensen broke the news on Friday afternoon, and colleague Adam Schefter added a report that the deal has a total value of $258 million, including $150 million of guaranteed money with $100 million fully guaranteed.

Josh Allen is the first quarterback from the 2018 class to sign a long-term contract extension, and he’ll be paid an average of $43 million per year (and $25 million per year guaranteed) with the new money kicking in. Allen effectively resets the market for a new wave of quarterbacks, with guaranteed money that would far outstrip the values given to Deshaun Watson and Dak Prescott.

Our contract projection from June estimated an average annual value of $41 million, and guaranteed $24 million per year, but over a contract length of only four years. The Bills and Allen thought bigger, with a deal that could last until he turns 31 years old.

With the team working through the aftermath of a dramatically lower salary cap hampered by COVID-19, there was some skepticism that both sides could come to an agreeable contract this year. But Brandon Beane worked his magic and found a consensus.

Since being drafted with the seventh overall pick, Allen has played three NFL seasons with the Bills. He has a 28-15 record as a starter, with 67 touchdown passes and 31 interceptions, 9,707 passing yards and a 61.8 career completion percentage, and 7.2 yards per passing attempt. He also has 1,562 rushing yards and 25 rushing touchdowns, with an average gain of 5.2 yards per rushing attempt. Allen has orchestrated eight fourth-quarter comebacks and 11 game-winning drives in his career. He was an MVP runner-up and a second-team All-Pro selection in the 2020 season.