The decision comes on the day of the deadline for teams to decide on the options for players picked in the first round of the 2018 NFL draft.
The seventh overall pick in 2018, Allen broke out in his third season last year, passing for 4,544 yards and 37 touchdowns and finishing as the league's MVP runner-up. General manager Brandon Beane said the team is working on an extension for Allen that could be completed as early as this spring.
With the move, Allen will receive a base salary of about $23.1 million, fully guaranteed, in the 2022 season, according to Over the Cap.
Edmunds turned 23 on Sunday and is younger than four members of the team's 2021 draft class. As he enters his fourth season, Edmunds is a two-time Pro Bowler and team captain. Speaking to local media before the draft, Beane said it didn't make much sense to exercise the fifth-year option on both players without also extending them, but he has not otherwise confirmed an impending extension for Edmunds.
With the move, Edmunds will receive a base salary of about $12.7 million, fully guaranteed, in the 2022 season, according to Over the Cap.
Behind Allen and Edmunds, the Bills have undergone a dramatic rebuild, culminating in an AFC Championship Game appearance last season.