Josh Allen and Bills Agree to Mammoth 6-Year Contract Extension
Deal Worth $258 Million, Restructures Contract for Cap Relief
Buffalo Gains $167 Million in 2024 Cap Space
The Buffalo Bills have secured the long-term future of star quarterback Josh Allen, agreeing to a massive six-year contract extension worth $258 million. The deal includes $150 million guaranteed, according to ESPN sources.
This extension is a major win for both Allen and the Bills. Allen, 26, has established himself as one of the league's most dynamic and exciting players. He led the Bills to back-to-back AFC East titles and consecutive appearances in the playoffs.
The Bills, meanwhile, have locked up their franchise quarterback for the foreseeable future. Allen's cap hit was previously set to account for a whopping 18.4% of the team's salary cap in 2024. By restructuring his contract, the Bills have converted much of his 2024 compensation into a signing bonus, creating $167 million in cap space for the upcoming season.
This additional cap space will give the Bills significant flexibility to bolster their roster in other areas, particularly at wide receiver. The Bills recently lost Gabe Davis to free agency and could use an upgrade alongside Stefon Diggs.
The Bills have taken a proactive approach to manage Allen's cap situation, which could prove crucial as they continue to compete for Super Bowls. With a young, talented roster and cap space to add pieces, Buffalo remains one of the favorites in the AFC.
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