The Buffalo Bills could give Josh Allen a new contract much sooner than expected

Another week and another quarterback received a record contract, with the recent player being Trevor Lawrence, who signed a five-year contract worth $275 million. What this means for the Buffalo Bills is that the deal they agreed to with Josh Allen in 2021, a six-year deal worth $258 million, continues to look more and more like a bargain.

Entering the 2024 season, Josh Allen has the 11th highest average salary among quarterbacks at $43 million per season. He’ll likely move even further down the list with players like Dak Prescott, Tua Tagovailoa, Jordan Love and even Brock Purdy potentially having new contracts by this time next year.

For a quarterback, who is arguably in the Top 5 at his position, coming out of the Top 15 in terms of salary is truly remarkable. With Josh Allen under contract through the 2028 season, the Bills may not be able to wait that long to agree to a new deal.

The answer to this question will be as soon as possible and perhaps as early as next offseason. Over the past few seasons, the Bills have successfully restructured Allen’s deal by converting salary into a signing bonus and then spreading those dollars over the life of the contract.

In 2025, Allen has a cap hit exceeding $60 million and represents more than 22% of the projected salary cap, according to Spotrac. However, the team could strike a new contract that would perhaps only add a year or two, keeping him under contract until 2030 when he will be 34, but would significantly lower the cap hit in the next offseason.

It’s a move that makes sense as it could benefit the team, with the necessary cap space, but also pay Josh Allen like the Top 5 quarterback that he is.