- Allen’s deal has a base value of $45 million over the course of four-years, but it can top out at $49 million.
- The contract includes $20 million fully guaranteed in new money.
- There’s also $2.5 million more in injury guarantees to go along with a $9.5 million signing bonus.
- Rand Getlin reports that Allen’s contract is worth $45 million and includes over $24 million guaranteed.
- This new contract will keep Allen under team control through the 2020 season.
Recent reports had said that the two sides were discussing a four- or five-year extension worth over $10 million per year, so it appears as though those reports were spot on.
Allen will vault ahead of Jaguars WR Allen Hurns as one of the top-ten highest paid receivers in the NFL.
There’s no question that Allen has earned a long-term deal. He’s clearly the future of the Chargers’ offense now that Antonio Gates is coming to the end of his NFL career and Malcolm Floyd has decided to retire.
Allen, 24, was taken in the third round of the 2013 NFL Draft by the Chargers. He was in the final year of his four-year, $2.81 million rookie contract and stands to make a base salary of $675,000 for the 2016 season.
In 2015, Allen was limited to appearing in eight games due to a lacerated kidney he suffered midseason. He finished the year catching 67 passes for 725 yards receiving and four touchdowns.