In 2024, Josh Allen’s cap number soars.
This week, the Bills had to perform extensive cap surgery, cutting $37 million of 2024 revenue in a single day. There are numerous explanations for this.
This is a significant one. Josh Allen’s contract has a cap charge that is about to expire.
His $258 million, six-year deal was designed to maintain modest cap costs in 2021–2023 ($0.2 million, $16.3 million, and $18.6 million).
It soars to $47 million this year. The ceiling amount increases to $56.5 million the next year.
The Bills have the option to rework the agreement and push the deadline even more out of the picture. But eventually, they’ll also have to redo the agreement.
He makes $43 million annually on average, far less than the top of the market. Furthermore, he is only expected to get $30 million in cash this year.
While it’s not terrible, it falls well short of his standing as one of the league’s top two or three players.
This is an additional justification for linking elite players’ salaries to a portion of the salary ceiling. Deals stay relevant in this way. Additionally, teams would assume cap responsibility as they go, preventing a significant leap like as the one the Allen deal will encounter this season.
The Bills still need to work by Wednesday at 4:00 p.m. ET in order to free up cap space. We’ll see whether Allen is restructured by the Bills. He has good reason to expect something more than just transferring money in the near future.
Leave a Reply