Josh Allen extension: What will his second contract look like?
Coming off a breakthrough season, what will Josh Allen's second contract look like?
The Buffalo Bills won the AFC East for the first time since 1995 this year, and on Saturday they hosted their first playoff game since the 1996 season. Quarterback Josh Allen has had an MVP-caliber season, completing 69.2 percent of his passes while setting franchise records for passing yards (4,544) and passing touchdowns (37).
As his third season draws to a close, Allen is eligible for a contract extension this offseason. The Bills will exercise their fifth-year option for 2022 on him if it comes to that, but Ian Rapoport of NFL Network has reported the team is expected to approach Allen’s agents about an extension this spring or summer.
The NFL’s highest-paid quarterback is Patrick Mahomes ($45 million per year), followed by Deshaun Watson ($39 million) and Russell Wilson ($35 million). The top-five is rounded out by Ben Roethlisberger ($34 million) and Aaron Rodgers/Jared Goff ($33.5 million).
So, what might Allen’s new deal look like?
With Mahomes, Watson, Wilson and Carson Wentz as comps, Spotrac has tabbed Allen’s market value at $40.5 million per year on a four-year deal worth a little less than $162.4 million. That would make him the second-highest paid quarterback in the league based on average annual value. If we're being honest, that’s a sugar-high spike in his value based on a great season. The question is if this year’s performance is sustainable, especially with offensive coordinator Brian Daboll lined up to leave the Bills for a head coaching job.
A new deal for Allen could be extended to five years or longer, with the value of that fifth-year option mixed in to boost the cosmetic length and value beyond actual new money. In terms of new money, leaving out that sure-to-be exercised option, I would put Allen in line for a four-year deal in the $140-$150 million range. He’d still become a top-five paid quarterback as things are right now, with a nod to how the deal might be structured in terms of salary, bonuses and full guarantees each year to allow him to see the full amount.
