Josh Allen’s Contract Details, Salary Cap Impact, Bonuses, and Net Worth

What is the structure of Josh Allen's contract, how does his deal impact the Buffalo Bills' salary cap, and what is the young QB's net worth?

Josh Allen signed a blockbuster contract with the Buffalo Bills in 2021. Let’s examine the details of Allen’s contract, his impact on the Bills’ salary cap in 2023, and his reported net worth.

Josh Allen’s Contract Details and Bonuses

Entering his fourth year in the NFL, Allen and the Bills agreed to a six-year, $258 million contract extension. Allen was entering the fourth season of his rookie contract after the Bills exercised his fifth-year option earlier that offseason.

Allen’s original extension contained $100 million in full guarantees, with $150 million guaranteed in total throughout the contract’s lifetime. Interestingly, the deal only contained a $16.5 million signing bonus initially.

Allen restructured the deal in March to give the Bills flexibility. He was set to count for almost $40 million towards the Bills’ salary cap. With the new deal, Allen will only account for $18.6 million. The Bills converted Allen’s base salary for 2023 into a $26.4 million bonus that will be spread over the next five seasons.

Allen Has Six Years Remaining on His Contract

When Allen signed the six-year extension, he was already set to be under contract through the end of the 2022 season. Therefore, including 2021, Allen was technically under contract for eight years with the Bills. With 2022 now in the books, there are six more years remaining on Allen’s contract.

Under the current deal, Allen is set to be a free agent in 2029. At that point, he would be 32 years old.

What Impact Does Allen’s Deal Have on the Bills’ salary cap?

Allen restructured the deal in March to give the Bills flexibility. The Bills converted Allen’s base salary for 2023 into a $26.4 million bonus that will be spread over the next five seasons.

This change freed up over $20 million in cap space for the Bills this past offseason. Allen was set to count for almost $40 million towards the Bills’ salary cap. With the new deal, he will only account for $18.6 million.

What Does the Future of This Contract Look Like for the Bills?

The Bills gained salary cap flexibility by restructuring Allen’s deal for 2023. His salary cap figure is $18.6 million in 2023 before ballooning next season to $47 million, and it’ll rise again in 2025 to $56 million. Here are Allen’s salary cap numbers throughout the life of the contract:

  • 2023: $18.6 million
  • 2024: $47 million
  • 2025: $56.6 million
  • 2026: $52.3 million
  • 2027: $45.3 million
  • 2028: $41.6 million

Included in the deal are roster bonuses ranging from $6 million in 2024 through $25 million in 2025, 2027, and 2028.

The first potential out in Allen’s contract does not come until after the 2025 season. At that point, the Bills could conceivably release Allen for just $19.04 million in dead money. This would give the Bills over $33 million in cap space. However, with cap numbers of $41.6 million and $52.3 million after 2025, there is every chance we will see the deal restructured again.

Allen’s Net Worth

Allen is still in the early stages of his NFL career, relatively speaking. His current net worth is estimated to be around $14 million.

MORE: Highest-Paid QBs in 2023 

Allen has made over $113 million in career earnings. Therefore, his net worth is likely considerably higher than the estimated $14 million. Additionally, Allen has reported endorsement deals with brands including Nike, Hyundai, FedEx, Pepsi, and Microsoft Surface.

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