Josh Allen’s contract, signed two years ago, might not be top of mind for casual fans today, but he remains a cornerstone of the Buffalo Bills, who currently hold a 7-2 record in the AFC. Allen has been efficient this season, throwing only two interceptions while totaling 20 touchdowns (17 passing). The Bills recently edged out the Miami Dolphins in a dramatic 30-27 win, secured by Tyler Bass’s 61-yard game-winning field goal as time expired.
Allen’s place among the NFL’s elite quarterbacks isn’t up for debate; he’s consistently considered a top-five quarterback in the league. However, when it comes to his contract, his pay relative to that standing tells a different story. While many assume Patrick Mahomes holds the highest-paid title, the reality is more complex, with other players’ recent deals reshaping the quarterback salary landscape.
Josh Allen’s Contract With Buffalo Making Other NFL Teams Look Foolish in 2024
Dak Prescott of the Dallas Cowboys is currently the highest-paid quarterback in the NFL, having agreed to a four-year, $240 million extension worth $60 million per year just before the start of Week 1. While Prescott has led the Cowboys to multiple playoff appearances, they have never advanced past the divisional round. Despite a quiet off-season in terms of free-agent signings, Dallas currently sits near the bottom of the NFC standings, with only the New Orleans Saints, Carolina Panthers, and New York Giants having a worse record.
Adding to the team’s struggles, Prescott is set to miss several weeks due to a hamstring injury and could be placed on injured reserve. Looking ahead, with Prescott’s large contract and a potential big deal for star linebacker Micah Parsons looming, the Cowboys may find it difficult to make significant roster improvements after this season.
Everybody Wants Some
The top five highest-paid quarterbacks in the NFL are:
- Dak Prescott (Dallas Cowboys) – $60 million
- Joe Burrow (Cincinnati Bengals) – $55 million
- Trevor Lawrence (Jacksonville Jaguars) – $55 million
- Jordan Love (Green Bay Packers) – $55 million
- Tua Tagovailoa (Miami Dolphins) – $53.1 million
Jared Goff (6th, $53 million), Justin Herbert (7th, $52.5 million), Lamar Jackson (8th, $52 million), and Jalen Hurts (9th, $51 million) round out the stars who earn more than $50 million each year.
Allen’s current contract is near the bottom of the next group of quarterbacks. Kyler Murray of the Arizona Cardinals is the 10th highest-paid signal-caller, earning $46.1. The remaining top 15 plays out as follows:
- 11. Deshaun Watson, Cleveland, $46 million,
- T-12. Patrick Mahomes, Kansas City, $45 million
- T-12. Kirk Cousins, Atlanta, $45 million
- 14. Josh Allen, Buffalo, $43 million
Daniel Jones and Matthew Stafford round out the top 15 highest-paid quarterbacks in the NFL, each earning $40 million per year. The trend of overpaying for quarterbacks, regardless of their sustained success, has led many owners to offer significant contracts. Of the quarterbacks in the top 15, only Patrick Mahomes and Matthew Stafford have won Super Bowls, with Jalen Hurts, Joe Burrow, and Jared Goff being the only others to reach a Super Bowl.
This trend reflects how players, particularly quarterbacks, now hold more leverage than ever before. Owners are often willing to overpay a top-20 quarterback just to secure a reliable starter, rather than risk the uncertainty of searching for a new one.
When Josh Allen signed his contract three years ago, it was among the top in the league. Since then, other quarterbacks have surpassed his deal, but Allen has remained unconcerned, stating over the summer that “everyone will have their day” and that he “will have it again” someday. His deal has also provided the Buffalo Bills with the flexibility to add key pieces like Amari Cooper and Von Miller in recent years, enhancing their chances for postseason success.
Meanwhile, Cleveland has struggled this season and appears to be in “selling mode” halfway through 2024, showing the downside of big quarterback contracts when a team cannot capitalize on them.
How Allen has Bucked the Trend of Superstar Players
Every quarterback on the list has made the playoffs, but their success levels vary. Josh Allen and Lamar Jackson are among the top three quarterbacks, trailing only Patrick Mahomes, as both have made deep playoff runs but have fallen short against Mahomes and the Chiefs.
Others, like Daniel Jones, have not lived up to their contracts. Jones made one playoff appearance but has struggled with consistency throughout his career, contributing to the New York Giants being one of the NFL’s worst teams. The Cleveland Browns signed Deshaun Watson to a controversial deal that made him the highest-paid quarterback when it was signed. However, Watson has underperformed, and his 2024 season ended prematurely due to a season-ending ACL injury.
Trevor Lawrence and Jordan Love have one standout season each on their resumes, but questions remain about their sustained performance. Love has managed to keep the Green Bay Packers competitive in the NFC North with a 6-3 record, despite missing time due to injuries this season.
Deciding how much to pay a quarterback is an imperfect science for NFL owners. Some teams are simply trying to keep up with the market and fill the position, even if the player hasn’t yet proven his worth. Josh Allen, however, had a proven track record of success before his contract and is often compared to Dan Marino, as a great quarterback who has yet to make it to a Super Bowl.
When the Buffalo Bills signed Allen’s contract three years ago, the market was different. Now, Allen’s deal is seen as a bargain for the team, especially as the market has shifted. If he leads the Bills to a Super Bowl, his deal may be viewed in a new light, and he could rise in the rankings. Until then, Allen’s relatively affordable contract allows Buffalo the flexibility to add key players, putting them in a better position to finally get over the postseason hump.
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