The Buffalo Bills have quietly given Josh Allen a significant boost in compensation for this season.
According to Michael Ginnitti of salary tracking outlet Spotrac, the Bills discreetly moved $30 million into Allen’s 2024 earnings. While the team had already restructured Allen’s contract in March to free up $16.7 million in cap space for the season, the additional funds had not been reported at that time.
“The Bills renegotiated QB Josh Allen’s contract this offseason, pulling $30M of cash into his 2024 compensation,” Ginnitti wrote in a post on X.
He also noted that the move reduces Allen’s cap hits for the next two seasons, lowering them by $17 million for 2024 and $13.3 million for 2026. This could provide the Bills some crucial flexibility in the coming years, as they are already planning for increased spending.
Josh Allen Addresses His Salary
Allen’s pay raise comes amid growing discussion about the six-year, $258.3 million extension he signed in 2021, which has since been eclipsed by other quarterback deals. However, Allen has downplayed concerns about his earnings, telling reporters this summer that he’s content with his situation.
“Everyone is going to have their day,” Allen said. “I’m happy that everyone’s getting what they’re worth. As the game evolves and players keep getting paid, the market is what it is. I have no issues with where I’m at right now. I had my moment a couple of years ago, and I’m sure it’ll come again. But for now, my focus is on playing the best football I can. Everything else will sort itself out.”
Some analysts, however, believe Allen is due for a new deal. Mike Florio of Pro Football Talk noted that as quarterback contracts continue to rise, Allen’s $258.3 million deal “stands out more.”
“The Bills might not like hearing this, especially with upcoming cap hits of $60.7 million, $56.4 million, $49.4 million, and $45.7 million, but Allen is underpaid,” Florio wrote. “He should be pushing for a new contract. His agents could be working behind the scenes to make him the first $60 million per year player.”
Bills Creating Cap Space
The Bills have faced tough decisions regarding the salary cap in the past year, parting ways with veterans like cornerback Tre’Davious White and center Mitch Morse this offseason. The team also traded wide receiver Stefon Diggs, a move that resulted in a $31.096 million dead-money charge for the season.
Buffalo received some relief with a record $30.6 million increase in the salary cap for the 2024 season.
“Every dollar helps,” said Bills general manager Brandon Beane to the Associated Press. “We were planning for a cap in the 240s, so getting the 255 number had me smiling.”
Beane also emphasized that the team is looking ahead, aiming to create cap space for future moves while avoiding major financial issues in the coming seasons.
“Now that we know the cap number, we’re working to get under it and see how much space we can create without causing a huge problem in 2025 or 2026,” he said.
