While Josh Allen was a first-round pick in the 2018 NFL Draft, he didn’t look like an extension candidate after a poor rookie campaign that saw him complete 52.8% of his passes while throwing 10 touchdowns against 12 interceptions.
Allen steadily improved in 2019 and before ascending to near-MVP territory in 2020, proving himself worthy of a long-term deal with the Buffalo Bills. What does Allen’s contract look like, and where does his deal rank among other NFL quarterbacks?
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Josh Allen’s Contract Details and Bonuses
Allen eventually inked a six-year, $258.034 million extension with the Bills in Aug. 2021. Buffalo had already exercised Allen’s fifth-year option for the 2022 campaign, so his new deal runs through the 2028 season.
At the time, Allen became the NFL’s second-highest-paid quarterback behind only the Kansas City Chiefs’ Patrick Mahomes. While Allen’s $100 million in fully guaranteed money set a new league record, his $43 million average annual value (AAV) lagged $2 million behind Mahomes’.
It’s only been two years since Allen agreed to his extension, but he’s already fallen relatively far down the list of the NFL’s top-paid signal-callers. Allen now ranks ninth among QBs in AAV; his $43 million salary is $12 million behind Joe Burrow’s market-leading figure.
Allen’s deal remains an outlier from a length perspective. Mahomes took a 10-year contract from Kansas City, but nearly every other quarterback has agreed to a four or five-year extension with his respective club.
Allen’s six-year pact is one of a kind among QBs. Only three other NFL players — Los Angeles Chargers edge rusher Khalil Mack, San Francisco 49ers left tackle Trent Williams, and Bills pass rusher Von Miller — have six-year contracts.
MORE: Buffalo Bills Depth Chart
The Bills held on restructuring Allen’s contract for a few seasons, but they eventually did it this spring. Buffalo converted $26.42 million of Allen’s 2023 base salary into a signing bonus in March, spreading his money over multiple years and creating more than $21 million in immediate cap space.
Thus far, Allen has collected roughly $67 million (26%) of his total contract value. Let’s break down the remaining years of Allen’s deal:
2023
- Base salary: $1.08 million
- Signing bonus proration: $3.3 million
- Option bonus proration: $8.472 million
- Restructure proration: $5.284 million
- Workout bonus: $500,000
- Cap hit: $18.636 million
- Yearly cash: $28 million
- Running cash: $95 million
2024
- Base salary: $23.5 million
- Roster bonus: $6 million
- Signing bonus proration: $3.3 million
- Option bonus proration: $8.472 million
- Restructure proration: $5.284 million
- Workout bonus: $500,000
- Cap hit: $47.056 million
- Yearly cash: $30 million
- Running cash: $125.5 million
2025
- Base salary: $14million
- Roster bonus: $25 million
- Signing bonus proration: $3.3 million
- Option bonus proration: $8.472 million
- Restructure proration: $5.284 million
- Workout bonus: $500,000
- Cap hit: $56.556 million
- Yearly cash: $39.5 million
- Running cash: $164.5 million
2026
- Base salary: $22.5 million
- Roster bonus: $15 million
- Option bonus proration: $8.472 million
- Restructure proration: $5.284 million
- Workout bonus: $1 million
- Cap hit: $52.256 million
- Yearly cash: $38.5 million
- Running cash: $203 million
2027
- Base salary: $14 million
- Roster bonus: $25 million
- Restructure proration: $5.284 million
- Workout bonus: $1 million
- Cap hit: $45.284 million
- Yearly cash: $40 million
- Running cash: $243 million
2028
- Base salary: $15.55 million
- Roster bonus: $25 million
- Workout bonus: $500,000
- Cap hit: $41.55 million
- Yearly cash: $41.55 million
- Running cash: $284.55 million
Josh Allen’s Incentive Package
Buffalo’s quarterback will collect hefty salaries for the duration of his deal, but he also has $30 million in additional incentives. Each season from 2023 through 2028, Allen can earn incentive-based pay based on the following criteria:
- $1 million: 60% playtime and AFC Championship Game victory
- $2.5 million: 60% playtime and Super Bowl win
- $1.5 million: NFL MVP
Allen has reached a 60% snap rate in every season of his career and will continue to do so, barring injury. But he’ll need postseason success and awards to maximize the total value of his contract.
Because the Bills didn’t win the AFC title game and Allen didn’t win MVP in 2022, those incentives are considered “not likely to be earned” and do not count on Buffalo’s salary cap.
If Allen wins the Super Bowl and the NFL MVP award in 2023, he’ll collect all $5 million in incentives. But his incentives for the 2024 season would then be considered “likely to be earned” — and count on the Bills’ cap — since he would’ve met the thresholds in the prior year.