Bills agree to terms on six-year contract extension with Josh Allen

ESPN NFL insider Adam Schefter is reporting the deal is worth $258 million with $150 million in total guaranteed money

The Buffalo Bills have their franchise quarterback locked up for the long-term.

The team announced on Friday it has come to terms on a six-year contract extension with Josh Allen. According to ESPN NFL insider Adam Schefter, the deal is worth $258 million, with $150 million of his contract guaranteed.

Allen is coming off a historic 2020 season with the Bills, where he set single season franchise records for completions (396), completion rate (69.2%) passing yards (4,544), passing touchdowns (37), passer rating (107.2) and total touchdowns (46). The 25-year-old was named to the Pro Bowl and a Second-Team All-Pro, while also finishing second in MVP voting behind only Green Bay Packers quarterback Aaron Rodgers.

Allen became the first quarterback in NFL history last year to throw for 4,000-plus yards and 30-plus touchdowns, while also rushing for eight or more scores in a single season. He was also named the AFC Offensive Player of the Month in both September and December of the 2020 season, while also earning AFC Offensive Player of the Week four times throughout the year.

Since being a first round pick (seventh overall) of the Bills in the 2018 NFL Draft out of the University of Wyoming, Allen has developed into one of the best dual-threat quarterbacks in the league.

In 44 games played over three seasons, Allen has completed 836 of 1,353 pass attempts for 9,707 yards and 67 touchdowns to 31 interceptions. He has also taken the football himself for 1,562 yards on 300 carries and 25 touchdowns. Allen even has a pair of receiving touchdowns in his career - One against the Houston Texans in the 2019 AFC Wild Card Round, and another this past season against the Arizona Cardinals.

What stands out the most about Allen's turnaround since being drafted is his accuracy in the passing game. As a rookie in 2018, Allen completed just 52.8% of his pass attempts for 10 touchdowns and 12 interceptions. Two years later, he has increased his completion rate by 16.4%, while cutting down drastically on his mistakes through the air.

With his new contract, Allen becomes the second-highest paid quarterback, in terms of average annual value, in the NFL. His $43 million per-year rate is only behind Kansas City Chiefs quarterback Patrick Mahomes at $45 million per-year.

Allen has two more years remaining on his rookie contract before his extension kicks in through the 2028 NFL season.

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