Josh Allen's Massive Payday: The Impact on His Salary Cap Hits
Understanding Allen's Salary Structure
In March, the Buffalo Bills converted $26.42 million of Josh Allen's 2023 base salary into a signing bonus, spreading his earnings over multiple years and creating over $21 million in immediate cap space. This move significantly reduced Allen's cap hit for the current season. Allen has so far collected approximately $67 million, or 26% of his total contract value.
Salary Cap Implications for 2024 and Beyond
With the Jacksonville Jaguars providing Allen with a substantial signing bonus of $32 million, his first-year cap hit with the franchise will be relatively low. Allen's new contract has an average annual salary (APY) of $30 million, making him the third-highest paid defensive player in the NFL. His 32 sacks over the past three seasons rank him tied for 10th in the league.
Allen's long-term salary cap hits will be significant. His cap figure for 2023 is projected to be $18.6 million before escalating to $47 million in 2024 and $56 million in 2025.
Allen's Importance to the Jaguars
Josh Allen is a cornerstone player for the Jacksonville Jaguars. He has been the only NFL team he has ever known, and his new five-year, $150 million contract with $88 million guaranteed reflects his importance to the franchise.
Allen's signing bonus and salary restructuring have provided the Jaguars with much-needed salary cap flexibility, allowing them to potentially make other roster moves to improve their team.
Comparison to Other Contracts
Allen's contract is comparable to the six-year, $258 million extension he signed with the Bills in 2021. That contract featured $150 million guaranteed for injury and $100 million fully guaranteed at signing. Both contracts show that Allen is one of the NFL's most highly compensated players and that he is expected to be a key contributor for years to come.
Komentar