Josh Allen's cap number skyrockets in 2024
The Bills had to engage in major cap surgery this week, trimming $37 million of 2024 dollars in one day. There are plenty of reasons for it.
Here's a big one. The cap bill for quarterback Josh Allen's contract is starting to come due.
His six-year, $258 million extension was structured to keep the cap charges low in 2021 through 2023: $10.2 million, $16.3 million, $18.6 million.
This year, it skyrockets to $47 million. Next year, the cap number moves to $56.5 million.
The Bills can always restructure the deal, kicking the cap can even deeper into the future. At some point, however, they'll also need to re-do the contract.
He's averaging $43 million per year, well below the top of the market. And he's due to receive only $30 million in cash this year.
It's not bad, but it's far short of his status as one of the top two or three players in the league.
It's another reason to tie compensation for star players to a percentage of the cap. That way, deals don't get obsolete. Also, teams would take the cap charge as they go, avoiding a major jump like the one the Allen deal will experience this year.
The Bills have more work to do to create cap space before Wednesday at 4:00 p.m. ET. We'll see if the Bills restructure Allen. Soon, he'll be expecting (justifiably) something more than merely moving money around.
