Jaguars secure key piece of defense with massive contract extension

The Jacksonville Jaguars have rewarded Pro Bowl edge rusher Josh Allen with a lucrative contract on Wednesday that ensures he stays put for the foreseeable future, making him one of the highest-paid players at his position in the NFL.

Jacksonville placed the franchise tag on Allen earlier this offseason, assuring he remains with the Jaguars on a fully guaranteed one-year, $24.007 million deal while also serving as a placeholder to work out a long-term extension. And now the two sides have officially found common ground, per ESPN's Senior NFL insider Adam Schefter.

Jaguars break the bank to keep LB Josh Allen in Jacksonville for years to come

Allen agreed to a five-year, $150 million contract, including $88 million in guaranteed money, Schefter points out.

With an average annual value of $30 million, Allen trails only All-Pros Nick Bosa ($34.2 million) and Chris Jones ($31.8) million in terms of yearly salary among defensive players, and deservedly so after the two-time Pro Bowler enjoyed a massive breakout campaign in 2023, recording a career-high 17.5 sacks en route to establishing himself as one of the premiere pass rushers in football.

Only 26 years old, Allen is firmly in the prime of his career and will continue making life difficult for opposing quarterbacks as a member of the Jaguars, the same team that spent the No. 7 overall pick on him in the 2019 NFL Draft.

Allen becomes the third Jaguars first-round draft pick from 2008 to 2020 to earn a second contract with Jacksonville, joining defensive tackle Tyson Alualu (2010) and quarterback Blake Bortles (2014), according to Schefter.

The Jaguars and Allen had until July 15 to get a deal done because of the franchise tag, but the two sides moved quickly and beat the deadline with time to spare, solidifying the latter remains in Duval County for years to come.