Josh Allen, Bills Agree to Six-Year Contract Extension

The quarterback's contract extension is reportedly worth $258 million with $150 million guaranteed.

Bills Mafia got the news they were anxiously waiting for on Friday—an extension for quarterback Josh Allen.

The Bills announced that they agreed to terms on a new six-year extension with Allen. According to ESPN's Adam Schefter, the deal is worth $258 million with $150 million guaranteed. His new deal will reportedly average $43 million per year. 

ESPN's Chris Mortensen was the first to break the extension news. 

The extension makes him the second highest average paid player in league history, and his reported guaranteed is the most all-time by almost $9 million, according to Spotrac. Based on the reported compensation, this marks Buffalo's largest contract since Marcell Dareus's $96.5 million. 

Allen, 25, had a breakout season during the 2020 campaign, despite the ongoing COVID-19 pandemic. He broke single-season franchise records for touchdown passes (37), total touchdowns (46), passing yards (4,544), completions (396), completion percentage (69.2) and 300-yard games (eight). Allen finished the season as runner-up to Green Bay's Aaron Rodgers for MVP honors. 

Allen led the Bills to their first AFC East title in 25 years last season, which last occurred was before he was born (May 21, 1996) and while head coach Sean McDermott was still playing defensive back in college.

Allen, who was the No. 7 pick in the 2018 NFL draft, will to replicate his success this season as the Bills look to make three consecutive postseason trips for the first time since 1993.