Buffalo Bills fans were thrilled when Josh Allen signed a six-year, $330 million extension with the team on Tuesday. However, many believed Allen could have secured an even bigger deal, potentially matching Dak Prescott’s $60 million per year average salary.
Despite being the face of the franchise and the 2024 NFL MVP, Allen chose not to push for a record-breaking contract. Just hours after signing his deal, he explained why he took a different approach.
Josh Allen’s Humility Proves His Love for Buffalo Bills
“What’s $5 [million] more going to do for my life than what I can do right now? I wasn’t looking to kill them every chance I could and told my agent that,” Allen said on “Bills Live.”
Bills QB Josh Allen on perception of taking less in extension:
“What’s 5 more (million) going to do for my life that I can’t already do right now? It’s not that crazy to me. I live a pretty good life… I wasn’t looking to kill them in every chance I could. I told my agent that.” pic.twitter.com/hIexNtkXUZ
— Cameron Wolfe (@CameronWolfe) March 12, 2025
Allen’s contract extension pays him $55 million per year, with $250 million guaranteed—the highest guaranteed total in NFL history. It is also the second-largest contract in the league, trailing only Patrick Mahomes. However, it still falls $5 million short of Prescott’s average annual salary.
ESPN’s Bill Barnwell pointed out that Allen could have demanded $70 million per year, leaving nearly $90 million on the table.
“Allen has clearly taken a smaller salary than his performance, and the quarterback market would suggest. His $55 million average ties him for the league’s second-largest figure with Joe Burrow, Jordan Love, and Trevor Lawrence. The difference is that those players signed their contracts in smaller cap environments,” Barnwell explained.
Allen is also Buffalo’s all-time leader in total touchdowns (195). Over his career, he has accounted for 45 touchdowns per season and has surpassed 30,000 total passing and rushing yards. His efforts led the Bills to a 13-4 record last season, marking the third time they reached that milestone in five years.
“Put another way, that $55 million represents 19.7% of the current cap. That figure ranks 13th among active quarterbacks on multiyear veteran deals in terms of extension average annual value. It’s closer to Derek Carr (16.7% of the cap) than Prescott (23.5%). Allen could have credibly asked for $70 million a year on a new deal,” Barnwell added.
When Joe Burrow signed his contract, the salary cap was $224.8 million. By the time Love and Lawrence signed in 2024, the cap had increased to $255.4 million. Now, it sits at $279.2 million—an almost 24% increase over two seasons.
Still, Allen chose not to chase a higher salary, which may have been driven by two reasons.
Key Reasons Why Allen Didn’t Chase Money With Bills
By accepting a lower salary, Allen saved the Bills around $90 million over six years. That money has already helped Buffalo make key signings.
Off the field, Allen is engaged to actress Hailee Steinfeld, who has a successful career of her own. Reports suggest the two will get married on May 31, possibly indicating that money wasn’t his top priority.
On the field, his decision freed up cap space, allowing the Bills to sign Joey Bosa (one year, $12.6 million) and Joshua Palmer (three years, $36 million). They also signed defensive end Michael Hoecht to a three-year $24 million deal.
Allen’s decision to take less money may prove to be a franchise-changing move, helping the Bills build a stronger, more balanced team for 2025.