In a significant move for both player and team, Josh Allen, the reigning NFL MVP, has secured a major contract extension with the Buffalo Bills, valued at a staggering $330 million. This deal sets a new benchmark with a guaranteed $250 million, making it one of the most lucrative agreements in NFL history. The Buffalo Bills confirmed the extension, but specifics of the contract value were shared by those familiar with the negotiations, as disclosed to a major news outlet under the condition of anonymity.
The recently signed extension prolongs Allen’s tenure with the Bills, keeping him on board through the 2030 season. This surpasses the previous record held by Cleveland Browns’ quarterback DeShaun Watson, whose 2022 contract extension featured $230 million in guarantees. In terms of total contract value, Allen’s deal ranks second to Kansas City Chiefs’ Patrick Mahomes, who inked a 10-year, $450 million contract in 2020. Moreover, Dallas’ Dak Prescott remains at the top of the pay-per-season list with an annual average of $60 million.
Allen’s new agreement follows an impressive season where he made history as the third Buffalo Bills player to earn the MVP award, a feat previously achieved by running back Thurman Thomas in 1991. This recent deal surpasses his 2021 contract, worth $258 million over six years, with the Bills. Allen has firmly established his position as an elite NFL quarterback, breaking nearly all of the franchise’s single-season passing and scoring records. Selected by the Bills in the 2018 draft, Allen addressed initial doubts and now serves as the cornerstone of a franchise that has experienced a resurgent period of success, reminiscent of the era dominated by Hall of Famer Jim Kelly.
Under Allen’s leadership, the Bills have captured the AFC East division title five times in succession and sustained a six-year streak of playoff qualifications. His MVP season is particularly notable for being achieved amidst limited receiving options, following the departure of top wide receivers Stefon Diggs and Gabe Davis. Despite not surpassing 4,000 passing yards for the first time since 2019, Allen threw a career-low six interceptions, scored a total of 28 passing touchdowns, 12 rushing touchdowns, and even received a touchdown via a lateral play initiated by Amari Cooper.
Nonetheless, a Super Bowl appearance remains elusive for Allen and the Bills, who have made it to the AFC Championship game twice, only to be surpassed by the Kansas City Chiefs both times. Adding to his current successful phase, Allen celebrated personal milestones when he proposed to actress and singer Hailee Steinfeld during the Bills’ bye week in November. Their relationship, which began in early 2023, has been an important source of support and motivation for the quarterback.
Financially, Allen’s new contract is anticipated to deliver crucial cap relief for the Bills as they approach a new business year. The team was near the cap limit after parting ways with defensive veteran Von Miller earlier. Moreover, this move is part of a broader effort by General Manager Brandon Beane to secure the team’s future by signing core players, including Greg Rousseau, Terrel Bernard, and Khalil Shakir, on four-year extensions.
A two-time All-Pro, Allen has accumulated 76 wins, 262 total touchdowns, and 30,595 total yards, marking a record-setting start to his NFL career. Within the team, he leads in single-season passing yards, overthrowing Jim Kelly’s records, with notable achievements including the most touchdown passes (37 in 2020), highest number of completions (646 in 2021), and highest completion rate (69.2 percent in 2020). Allen’s contributions continue to make a profound impact on both his career and the Buffalo Bills franchise.