Jaguars, OLB Josh Allen agree to franchise-record 5-year, $150 million contract extension

Josh Allen is not going anywhere.

According to multiple reports, the Jacksonville Jaguars and Allen have come to a five-year, $150 million contract agreement worth $88 million guaranteed. The team made the move official on Wednesday afternoon.

ESPN's Adam Schefter was the first to report the details of Allen's contract extension. Allen's $88 million in guaranteed money puts him just ahead of New York Giants pass rusher Brian Burns, who is set to make $87.5 million in guaranteed money.

Allen signed the biggest contract in the franchise's history, becoming their first-ever $100 million player.

“We are pleased to announce the signing of Josh Allen to a five-year contract," said Baalke in a statement released by the team. “Josh is a true pro who has developed into one of the top producing defensive players at his position in the NFL and a cornerstone of our defense. He is a leader on and off the field, and we are excited for Josh and his family, as well as our fanbase."

Allen shared his thoughts on the extension, thanking the Jaguars for believing in him.

“I’m grateful to the Jaguars organization for putting their faith in me once again.  Five years ago, as a first-round pick and again today, they’ve shown that they believe in my talent and value my contributions to this team. I’m prepared to make good on their investment and do whatever it takes to bring a championship to Jacksonville," said Allen. 

"Thank you to my wife, Kaitlyn, and my kids Wesley, Julian and Vanessa for supporting me on this journey.  It’s always been my goal to leave a legacy wherever I go, and I’m proud that work continues in Duval.”

The Jaguars initially applied the franchise tag on Allen before the league's deadline in March. Allen was set to make $24,007,000 fully guaranteed this year if he played under the tag.

Instead, Allen will remain with the Jaguars through the 2028 season, locking him in town for nearly 10 years since he was drafted with the seventh-overall pick in the 2019 NFL Draft.

Since joining the team, Allen has accounted for 45 sacks, just 10 shy of the team's career franchise record held by former Jaguars pass rusher Tony Brackens. Allen accounted for 17.5 sacks last season, surpassing the franchise's single-season record by three, previously held by Calais Campbell.

Allen has now been rewarded after a sensational 2023 campaign and the Jaguars will hope a new extension will only allow him to do just that in Jacksonville for years to come.

The 6-foot-5, 255-pound Allen will turn 27 in July.

Demetrius Harvey is the Jacksonville Jaguars reporter for the Florida Times-Union. You can follow him on X, formerly known as Twitter, at @Demetrius82.

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