On Friday, the Bills and quarterback Josh Allen reached agreement on a six-year extension. Now that Allen has officially signed the contract, here’s a look at its terms.
All numbers come from a source with direct knowledge of the contract.
It’s a six-year extension, with a base value of $258 million ($43 million per year) and a maximum value of $288 million ($48 million per year). The specific terms are as follow:
1. 2021 signing bonus: $16.5 million, fully guaranteed at signing.
2. 2021 base salary: $920,000, fully guaranteed at signing.
3. 2021 roster bonus: $2.6 million, fully guaranteed at signing.
4. 2022 option bonus: $42.4 million, fully guaranteed at signing.
5. 2022 base salary: $4.1 million, fully guaranteed at signing.
6. 2023 base salary: $27.5 million, fully guaranteed at signing.
7. 2024 million roster bonus: $6 million, which becomes fully guaranteed five days after signing.
8. 2024 base salary: $23.5 million, $10 million of which becomes fully guaranteed on the fifth day of the 2022 league year and the other $13.5 million of which becomes fully guaranteed on the fifth day of the 2023 league year.
9. 2025 roster bonus: $25 million, $16.5 million of which becomes fully guaranteed on the fifth day of the 2023 league year.
9. 2025 base salary: $14 million, $1.5 million of which is guaranteed at signing. It becomes fully guaranteed on the fifth day of the 2024 league year.
10. 2026 roster bonus: $15 million.
11. 2026 base salary: $22.5 million.
12. 2027 roster bonus: $25 million.
13. 2027 base salary: $14 million.
14. 2028 roster bonus: $25 million.
15. 2028 base salary: $15.55 million.
The deal also includes non-guaranteed workout bonuses of $500,000 in 2022, 2023, 2024, and 2025 and non-guaranteed workout bonuses of $1 million in 2026, 2027, and 2028.
Likewise, the contract has AFC Championship, Super Bowl, and MVP incentives from 2023 through 2028, which cumulatively can add another $30 million to the contract.
The $100 million full guarantee at signing moves to $110 million in 2022, $140 million in 2023, and $162.5 million in 2024, via rolling guarantees that vest money in future years. By 2025, Allen will have had $177.5 million become guaranteed. Through 2026, it becomes $239 million.
The full guarantee at signing is the most in NFL history, surpassing Dak Prescott ($95 million) and Matt Ryan ($94.5 million). The total injury guarantee of $150 million at signing bests Patrick Mahomes ($141.5 million), Prescott ($126 million), and Deshaun Watson ($110.7 million).
Allen’s deal has the first three years fully guaranteed, along with another $6 million in 2024. The three-year new cash flow of $138 million is the most ever, too.
The deal compares very favorably to the Patrick Mahomes contract. In a separate post, we’ll do a side-by-side comparison. For now, it’s safe to say that Allen has gotten a gigantic contract, one that cements his future in Buffalo. Given the structure, chances are that the two sides will revisit the contract in six years.