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NFL teams went on a spending spree this weekend, handing out more than $1 billion in contracts. Headlined by Josh Allen’s massive $330 million deal, the spending surge is just getting started with free agency looming.
—Colin Salao
Democrat and Chronicle
It was a billion-dollar weekend for the NFL.
NFL teams combined to hand out more than $1 billion worth of contracts this weekend, highlighted by the six-year, $330 million deal the Bills gave quarterback Josh Allen, the second-largest total contract in NFL history behind Patrick Mahomes’s (10 years, $450 million) with the Chiefs.
Two other players agreed to nine-figure contracts: Myles Garrett (four years, $160 million) and DK Metcalf (five years, $150 million after a trade from the Seahawks to the Steelers).
In total, NFL teams spent $1.12 billion on 16 players this weekend, according to data from Over The Cap.
However, the spending spree is far from over. The NFL’s free agency doesn’t officially start until Wednesday, and teams are actually only permitted to begin negotiations with impending free agents Monday.
There are a few more players who are still in line for new contracts, including Bengals wide receiver Ja’Marr Chase and Cowboys edge rusher Micah Parsons, both of whom could challenge Garrett for the crown of highest-paid non-QB in the NFL.
The deal between the Bills and Allen comes with $250 million guaranteed, the largest guarantee given in NFL history. According to ESPN, the previous high was given to Deshaun Watson, who received $230 million in guaranteed money from the Browns.
Another quarterback, the Cowboys’ Dak Prescott, holds the record for highest average annual value (AAV) at $60 million per year after signing a four-year, $240 million contract last year. Allen’s $55 million AAV is tied for second with Trevor Lawrence, Joe Burrow, and Jordan Love.
Allen, the 2024 league MVP, was just 14th among quarterbacks in AAV before this new deal. His previous AAV was $43 million after he agreed to a six-year, $258 million extension in 2021.
Allen’s massive deal highlights the Buffalo’s big offseason spending which has totaled more than $500 million. Other than Allen, they handed out four-year extensions in the eight-figures to three other players: Defensive end Gregory Rousseau ($80 million), wide receiver Khalil Shakir ($53 million), and linebacker Terrell Bernard ($50 million).
The on-field spending is on top of a new Highmark Stadium the team is scheduled to open by 2026. The stadium was originally projected to cost $1.4 billion with $850 million in public funding. But cost forecasts were already more than $2.1 billion by the end of 2024—and the team is seeking an exception to NFL debt limits to borrow $650 million, according to Sports Business Journal.
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March Madness is on the horizon, and several teams that will make the Big Dance in both the men’s and women’s tournaments were determined over the weekend due to automatic qualifiers from winning conference championships.
There are 68 total schools that will qualify for each March Madness tournament, and 31 conference champions earn automatic bids. Five schools have already clinched tournament berths in the men’s side, while nine schools have already been determined in the women’s tournament—including from each of the Power Four conferences.
The rest of the qualifiers will be announced on March 16 during Selection Sunday. The men’s teams will be revealed at 6 p.m. ET on CBS, while the women’s teams will be announced at 8 p.m. on ESPN.
Unlike the men, all Power Four conferences had their women’s conference championships decided Sunday. Duke won the ACC as the No. 4 seed, TCU reigned supreme in the Big 12, UCLA beat archrival USC in the Big Ten, and South Carolina took down No. 1 Texas to take the SEC crown for the third year in a row.
Here are the nine schools that have clinched a spot in the women’s March Madness tournament:
The UConn Huskies, led by Paige Bueckers, the projected No. 1 pick in the 2025 WNBA draft who will take Caitlin Clark’s place as the most famous player in this year’s tournament, will face the Creighton in the Big East title game Monday.
Southern Illinois University Edwardsville was the first team to qualify for the men’s March Madness tournament after winning the Ohio Valley conference title Saturday—but they are expected to be one of the lowest-ranked teams in the tournament as both ESPN and CBS have the Cougars in the First Four of their bracket predictions.
Here are the five schools that have already clinched a spot in the tournament:
Omaha was a unique case, as it clinched a tournament berth even before the championship game as its opponent, St. Thomas, is ineligible for the tournament because it is just the school’s fourth year in NCAA Division I after transferring from Division III. The Tommies will be eligible by next year.
While there are some conferences with title games within the week, many of the men’s conference champions will be determined next weekend right before Selection Sunday, including for each of the Power Four conferences.
Ken Blaze-Imagn Images
The NFL market has determined that edge rushers are the second-most-important position in the league—at least for now.
Myles Garrett agreed to a four-year deal with the Browns worth an average annual value of $40 million per year, making him the highest-paid non-QB in the NFL, according to ESPN senior NFL insider Adam Schefter. The deal comes just a month after Garrett had requested a trade from Cleveland.
The 29-year-old eclipsed fellow defensive end Maxx Crosby, who signed a three-year, $106.5 million deal last Wednesday with an average annual value of $35.5 million.
Entering the 2024 season, wide receiver Justin Jefferson held the mantle with a $35 million per year average on his four-year, $140 million deal signed last June. Receiver CeeDee Lamb and edge rusher Nick Bosa followed with $34 million per year. Bosa signed a five-year, $170 million contract in 2023, and received $122.5 million in guaranteed money.
Garrett’s deal also comes with $123.5 million in guaranteed money, also the most for a non-QB.
The market value for pass rushers has risen significantly due to Garrett’s contract, but there are still a pair of top-end players whose futures will be determined this offseason.
The Cowboys’ offseason agenda includes securing an extension for edge rusher Micah Parsons, and they could challenge the Browns by making the 25-year-old the highest-paid defensive player in the league.
“I don’t necessarily know that there’s a lot of extenuating situations out there that would [prevent] us from being able to get our hands around something with Micah, but we’ll see,” Cowboys EVP Stephen Jones said in late February.
Bengals defensive end Trey Hendrickson, who led the league with 17.5 sacks in 2024, is also on the market after Cincinnati announced last week they granted him permission to seek a trade. The 30-year-old is signed for one-year, $21 million and is in line for an extension with a new franchise.
However, Garrett’s record deal and the possible deals of Parsons and Hendrickson don’t assure that a defensive player will enter the 2025 season as the highest-paid non-QB. The Bengals are still negotiating a contract with wide receiver Ja’Marr Chase, who could keep that distinction with a new deal.
Kamil Krzaczynski-Imagn Images
“I’m hearing that if (the WNBA) don’t give us what we want, we’re sitting out.”
—Angel Reese on the WNBA and WNBA Players Association’s collective bargaining agreement negotiations during an episode of her podcast Unapologetically Angel on Friday, insinuating that the league’s players are open to a lockout for the 2026 season. The WNBPA opted out of its current CBA, which expires after the 2025 season, in October.
Dallas Wings guard DiJonai Carrington, Reese’s guest on the podcast who is also a WNBPA players representative, said she has been in CBA-related meetings and that players sitting out is “a possibility.”
WNBA players are seeking a significant raise in salaries once their next CBA hits, which is why the majority of the league will be free agents in 2026. While the league has faced financial struggles throughout its 28-year existence, players are hoping to benefit from a banner 2024 season and a new media rights deal worth $2.2 billion over 11 years that starts in 2026.
The minimum salary for WNBA players in 2024 was below $65,000 per year, according to Spotrac, while the maximum salary was around $250,000.
Brian Fluharty-Imagn Images
NBA ⬇ LeBron James will miss at least 1-2 weeks with a groin injury he suffered in the Lakers’ road game Saturday against the Celtics. The 21-time All-Star is still one of the most-watched players in the league, and will miss at least three nationally televised games if he is out two weeks, including a March 19 matchup against the Nuggets. A couple of notable nationally televised games after the two-week injury window are against the Warriors (April 3) and Mavericks (April 9).
London Lions ⬆ The U.K.-based professional basketball franchise announced Sunday that it intends to build a new basketball arena in the city for its men’s and women’s basketball teams. The Lions said they had the support of London mayor Sadiq Khan. The team plays in the Super League Basketball, which was established last year.
ESPN+ ⬆⬇ Fans with a subscription will be able to watch the replay of UFC 313 for free after viewers complained of purchase and streaming issues for the pay-per-view event Saturday, according to The Athletic. ESPN will not offer any rebates or refunds because the purchasing issue did not affect those who had bought the PPV before issues started at around 10 p.m. ET.
Blackhawks ⬆ Chicago has recalled Artyom Levshunov, the No. 2 pick in the 2024 NHL draft, from the Rockford, the team’s American Hockey League affiliate, setting him up for his NHL debut with about a month left in the season. The 19-year-old defenseman missed the start of the year due to a fracture in his right foot.
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NBA legend Magic Johnson has built a powerhouse ownership portfolio across sports and business. As a part-owner of the Los Angeles Dodgers, his investment paid off handsomely, as the team has won two of the last five World Series titles.
Beyond the diamond, Johnson is also a co-owner of the WNBA’s Los Angeles Sparks, the NWSL’s Washington Spirit, and the Los Angeles Football Club, which claimed the 2022 MLS Cup. Most recently, in 2023, Johnson joined the ownership group of the Washington Commanders, who surged to the NFC championship game in their second season under the new ownership.
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Get ready for the first episode of Portfolio Players, coming March 18 and presented by ETRADE.
Do you think NFL teams’ spending spree will lead to more success on the field?
Friday’s result: 61% of respondents think March Madness is becoming too dominated by power conferences.
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