The Buffalo Bills are exercising the fifth-year option on QB Josh Allen.
— Buffalo Bills (@BuffaloBills) May 3, 2021
The fifth-year option will cost the Bills $23.106 million in 2022, per Over The Cap.
The Bills traded their first and both second-round selections (53, 56) in the 2018 NFL draft to move up from 12th to seventh in order to select Allen.
This keeps their franchise quarterback through the 2022 season on a cost-controlled deal, but does not eliminate the possibility of a long-term deal being negotiated before then.
Allen, 24, is a former first-round selection of the Buffalo Bills. He’s entering the fourth year of a four-year, $21.183 million rookie contract in 2018 that included a $13.485 million signing bonus.
In 2020, Allen started all 16 games, completing 69.2% of his passes for 4,544 yards, 37 touchdowns, and eight interceptions. He also rushed 102 times for 421 yards (4.1 YPC) and eight additional touchdowns.