Jacksonville Jaguars Pro Bowl pass rusher Josh Allen agreed to a five-year, $150 million contract, according to multiple reports on Wednesday.

The Jaguars put the franchise tag on the 26-year-old Allen in March, blocking him from free agency as head coach Doug Pederson said the two sides were fully committed to working together on a long-term agreement. Allen has played only with the Jaguars since he was selected seventh overall in 2019.

Allen set a franchise record with 17.5 sacks in 2023 and his 45 career sacks are just 10 away from the team record (55, Tony Brackens). He was selected to the Pro Bowl twice in his first five seasons.

Under the terms of the franchise tag, Allen was guaranteed $24 million in 2024. Instead, he’ll reportedly received $88 million guaranteed.

The next order of business for the Jaguars could be the contract of quarterback Trevor Lawrence. The No. 1 pick in 2021 is in the final season of his four-year, $36.8 million deal with a fifth-year option, a virtual guarantee to be picked up by the Jaguars, for 2025.

Cincinnati Bengals quarterback Joe Burrow, the No. 1 pick in 2020, signed a five-year, $275 million extension before Week 1 of the 2023 season not long after the Los Angeles Chargers signed quarterback Justin Herbert, selected No. 6 overall in 2020, to a five-year deal worth a reported $262.5 million.

–Field Level Media