The quarterback bubble is a funny, funny thing.

The Jacksonville Jaguars inked passer Trevor Lawrence to a five-year, $275 million contract on Thursday evening, tying the ascending signal-caller to Duval County through the 2030 season. The contract includes a reported $200 million in guarantees and will see the 24-year-old make roughly $55 million per season.

The deal makes Lawrence the new leader in the proverbial quarterback clubhouse, as he’s now tied with Cincinnati Bengals passer Joe Burrow as the highest-paid signal-caller in the league. His sudden leap up the rankings pushes Buffalo Bills quarterback Josh Allen out of the top 10 highest-paid quarterbacks in the NFL; the 28-year-old makes a lowly $43 million annually.

Allen became the 10th highest-paid passer in the league after Jared Goff signed his four-year, $212 million mega extension with the Detroit Lions earlier this offseason. The Goff deal made Allen’s deal look like a bargain; the Lawrence deal—which makes Allen the 11th highest-paid quarterback in football—makes his contract look like a steal.

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Allen initially inked his current contract in the summer of 2021, a six-year extension worth up to $258 million with a then-NFL record $150 million in guarantees. The deal was set to make Allen the second-highest-paid quarterback in the league at $43 million per year, behind only Kansas City Chiefs quarterback Patrick Mahomes and his $45 million annually.

The deal was considered a bit of a risk for the Bills at the time; though Allen was coming off a stellar season in which he earned second-team All-Pro honors and finished second in NFL MVP voting, his breakout campaign came after a rather ugly rookie year and an up-and-down sophomore outing. The contract was an example of Buffalo trying to get ahead of the curve, to lock Allen up to a long-term deal not only before he cemented himself as one of the NFL’s elite, but before the quarterback market blossomed into a bubble.

It was wise to do so.

Allen would go on to solidify himself as not only one of the best quarterbacks, but players, in the league, leading Buffalo to another three straight AFC East wins since signing his extension. He recently constructed his fourth consecutive season with 40 or more total touchdowns; no player in NFL history had previously accomplished the feat. He’s earned NFL MVP votes in three out of the last four seasons.

Buffalo’s offense is helmed by a player who is, by every metric, one of the league’s best, and it’s not even paying him as a top-10 player at his posiiton. It’s likely only a matter of time before he and Mahomes (now the 10th highest-paid passer in football) reset the market, but in the meantime, the Bills will enjoy their bargain.