The Jaguars and pass rusher Josh Allen have turned his franchise tag into a five-year contract.
We have the full details of the contract.
Here there are, per a source with knowledge of the terms:
1. Signing bonus $32 million.
2. 2024 base salary: $2 million, fully guaranteed.
3. 2024 offseason workout bonus: $500,000.
4. 2024 46-man roster bonus: $500,000 total.
5. 2025 base salary: $32 million, fully guaranteed.
6. 2025 offseason workout bonus: $500,000.
7. 2025 46-man roster bonus: $500,000 total.
8. 2026 base salary: $22 million, $10.5 million of which is fully guaranteed at signing and $11.5 million of which becomes fully guaranteed in March 2026.
9. 2026 offseason workout bonus: $500,000.
10. 2026 46-man roster bonus: $500,000 total.
11. 2027 base salary: $23.75 million.
12. 2027 offseason workout bonus: $500,000.
13. 2027 46-man roster bonus: $500,000 total.
14. 2028 base salary: $24.5 million.
15. 2028 offseason workout bonus: $500,000.
16. 2028 46-man roster bonus: $500,000 total.
17. Annual incentives: $1.75 million, determined by $250,000 for 12.5 sacks, $500,000 total for 14.0 sacks, $750,000 total for 17.5 sacks, and $1 million for Pro Bowl or first-team All-Pro.
The base value is $141.25 million, which means an average value of $28.25 million.
The deal pays out $35 million in the first year, $33 million in 2025, $23 million in 2026, $24.75 million in 2027, and $25.5 million in 2028. The back end isn’t puffed up; the Jaguars could decide to keep Allen for the full five years of the contract.
The deal pays out $76.5 million fully guaranteed at signing. The other $11.5 million becomes fully guaranteed in March 2026.
The deal hits $150 million ($30 million per year) only if Allen has 17.5 sacks or more every year, and if he gets to the Pro Bowl or is named first-team All-Pro in every season.
It’s very similar to the contract given by the Giants to pass rusher Brian Burns. The base APY narrowly surpasses Burns, at $28.2 million. However, his incentives are slightly higher at $1.8 million per year — and he gets there simply by getting 12.5 sacks or making the Pro Bowl or being named an All-Pro.