Bills QB Josh Allen comments on his contract status amid blossoming QB market

Buffalo Bills passer Josh Allen commented on his contract status as the NFL quarterback contract market surges.

Kyle Silagyi | Aug 20, 2024

Charles LeClaire-USA TODAY Sports

In this story:

Buffalo Bills | News, Scores, Schedules & Standings

The NFL quarterback market has been trending in a lavish direction for some time, with the 2024 offseason perhaps serving as the position’s most financially fruitful in recent memory; five starting signal-callers signed mega-contracts with either their current or new clubs in the offseason, with three quarterbacks (Trevor Lawrence, Jordan Love, and Joe Burrow, who inked his deal last year) now making an average of $55 million per season.

One can have their own opinions regarding whether the league’s top-paid passers are actually the league’s top quarterbacks, but they can’t necessarily argue that they don’t deserve their contracts. It’s basic economics; there’s an ever-present demand for strong quarterback play in the NFL, and when teams have or find a good one, they must pay them relative to their peers at the position.

Is Jared Goff, the league’s fifth-highest-paid passer, better than Patrick Mahomes, who is the NFL’s 11th-highest-paid quarterback? No; he just signed his contract at a more lucrative time.

That’s what makes conversations about the quarterback market so difficult, as it’s not necessarily a ranking of talent or ability, but more so a snapshot of the financial status of the league at any given time. With that in mind, there is one idea that most football fans agree with: Buffalo Bills quarterback Josh Allen is grossly underpaid.

Allen, who inked a six-year extension worth up to $258 million in the summer of 2021, is set to earn $43 million in the 2024 NFL season—this makes him the 13th-highest-paid signal-caller in football.

Public opinion on the Buffalo passer, who has earned NFL MVP votes in three out of the last four seasons, is surprisingly mixed, but any pundit or fan who is worth listening to would tell you that Allen is better than the 13th-best quarterback in football. His placement in the quarterback contract hierarchy can be attributed to the already-explored explanations, but at the end of the day, Allen—given his production and value—is not currently being paid in line with the market.

Mark Konezny-USA TODAY Sports

This isn’t something that necessarily concerns him. The 28-year-old spoke about the state of the quarterback market and his thoughts on his current contract during his Tuesday media availability, telling the press that he’s happy with the status quo and that he’s sure it will eventually change.

“Everyone is going to have their day,” Allen said. “I’m happy that everyone’s getting what they’re worth, right? I think that as the game progresses and guys keep getting paid, the market is the market. I’ve got no problem with where I’m at right now. I had my day a couple of years ago, and I’m sure someday I’ll have it again. I think the main thing is the main thing and that’s playing football to the best of my ability. Everything else will take care of itself.”

Allen—who is not only the crown jewel of the Buffalo roster, but a regional icon—knows his worth, and he’s confident that, when his time comes again, Bills general manager Brandon Beane will pay him in line with the rest of his quarterback brethren. When his next extension will ultimately come is currently unknown; his deal is set to expire after the 2028 NFL season, and one could assume an extension will be reached well before that date. Pro Football Talk’s Mike Florio recently speculated that Allen could be the league’s first passer to earn north of $60 million annually, but given the current state of the market, it looks as though that benchmark will be reached well before Allen re-ups in Buffalo.

— Enjoy free coverage of the Bills from Buffalo Bills on SI —