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Allen and the Bills agreed on a six-year, $330 million extension. Per ESPN's Adam Schefter and other reports, the deal also includes $250 million in guarantees—the most guaranteed money for a player in NFL history.

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There were still four years left on Allen's previous contract, but this new one will supersede it. He'll be on the team through the 2030 season. His contract is the second-largest overall in NFL history behind Patrick Mahomes's $450 million with the Chiefs. And Allen's average annual value of $55 million per year is topped only by Dak Prescott, who makes an average of $60 million per season.

Primary Income Streams & Multi-Million Contracts

Allen entered the league in 2018 and is already the franchise's all-time leader in touchdown passes with 195. He's also rushed for 45 touchdowns and surpassed 30,000 combined passing and rushing yards. The Bills finished 13-4 last year, the third time in the past five seasons that they've hit the 13-win mark.

While the quarterback is certainly pleased with the record-setting extension, he has his eyes set on a bigger prize. The Bills have won five straight AFC East titles with Allen under center and reached two AFC Championship Games, but so far, the Super Bowl has eluded them.

A record-setting deal and a Super Bowl ring in the same season would be the ultimate pairing.