Josh Allen, Bills Agree to New 6-Year Contract Reportedly Worth $258M

Justin Edmonds/Associated Press

After a breakout 2020 season, Buffalo Bills quarterback Josh Allen has been rewarded with a long-term contract extension. 

The Bills announced on Friday that Allen has agreed to a six-year deal that will keep him with the organization through the 2028 season. 

Per ESPN’s Adam Schefter, Allen’s contract extension includes $150 million guaranteed and can be worth up to $258 million. 

There was a ticking clock on these negotiations, as general manager Brandon Beane told reporters earlier this week the two sides agreed not to hold talks once the regular season began if a deal couldn’t be reached. 

“Josh and I are in lockstep on that,” Beane said. “There will be no negotiating in-season. At some point we will press the pause button.”

The 24-year-old is set to enter 2021 with just a $6.9 million cap hit in the fourth year of his rookie contract.

Allen is coming off a monster season in which he totaled 4,544 passing yards and 37 touchdowns, both top five in the NFL, while adding 421 rushing yards and eight rushing touchdowns.

The overall production led to an 81.8 QBR that ranked third in the NFL behind only Aaron Rodgers and Patrick Mahomes, while the Associated Press voted him as a second-team All-Pro.

Buffalo thrived as a team behind the talented quarterback, producing the No. 2 scoring offense in the NFL while finishing 13-3 on the way to its first division title since 1995. A first-round victory over the Indianapolis Colts represented the franchise’s first playoff win in 25 years, and the Bills eventually reached the AFC Championship Game before losing to the Kansas City Chiefs.

It unsurprisingly led to talk of a “massive contract extension,” as Ian Rapoport of NFL Network reported in January.

Allen now has long-term financial security while the Bills have locked down their face of the franchise for an extended stretch.

The 2018 No. 7 overall draft pick had always been known as an above-average runner, but he has made massive improvements as a passer over his three seasons in the NFL. After recording a 67.9 quarterback rating as a rookie, the mark jumped to 85.3 in 2019 and then 107.2 in 2020.

Allen’s development gives him massive upside for the future, especially if he keeps picking up yards on the ground. It could mean the Bills end up with a steal with the latest agreement.