BREAKING: Buffalo Bills give a new contract to their current key man

Another week, another quarterback secures a record-setting contract. This time, it’s Trevor Lawrence, who signed a five-year deal worth $275 million. This development further emphasizes the value of the contract the Buffalo Bills agreed to with Josh Allen in 2021—a six-year deal worth $258 million—which increasingly looks like a bargain.

As the 2024 season approaches, Josh Allen holds the 11th highest average salary among quarterbacks at $43 million per season. His ranking is likely to drop even further with potential new contracts for players like Dak Prescott, Tua Tagovailoa, Jordan Love, and possibly even Brock Purdy by this time next year.

 

It’s quite remarkable that a quarterback, arguably Top 5 at his position, could fall out of the Top 15 in terms of salary. Although Josh Allen is under contract through the 2028 season, the Bills might not be able to wait that long to negotiate a new deal.

When could the Buffalo Bills potentially agree to a new contract with Josh Allen?

The answer to that question is likely sooner rather than later, possibly as early as next offseason. Over the past few seasons, the Bills have managed to restructure Allen’s deal by converting his salary into a signing bonus and spreading those dollars over the length of the contract.

In 2025, Allen has a cap hit exceeding $60 million, accounting for over 22% of the projected salary cap, according to Spotrac. However, the team could negotiate a new contract that potentially adds only a year or two, extending his contract through 2030 when he will be 34 years old, while significantly lowering that cap hit next offseason.

This strategy makes sense as it could benefit the team by providing needed cap space while also compensating Josh Allen like the Top 5 quarterback he is.