Allen and the Jaguars agreed to terms Wednesday on a five-year, $150 million contract, Nick Shook of NFL.com reports.
The Jaguars have officially placed their franchise tag on Allen ahead of Tuesday's 4:00 p.m. ET deadline.
The Jaguars are expected to place the franchise tag on Allen by Tuesday's 4:00 p.m. ET deadline, Ian Rapoport of NFL Network reports.
Allen finished the 2023 regular season with 66 tackles (43 solo), 17.5 sacks, one interception and two forced fumbles in 17 games.
Allen recorded six tackles (five solo) including three sacks in Sunday's 26-20 win versus the Panthers.
Allen recorded five tackles (four solo) including 2.5 sacks in Sunday's 24-21 win at Houston.
Allen registered five tackles (three solo) including two sacks in Sunday's 20-10 win over the Steelers.
Allen (shoulder) is active Sunday against the Texans.
Allen is considered day-to-day due to a shoulder sprain suffered in Sunday's loss to the Chiefs, John Shipley of SI.com reports.
Allen exited Sunday's game against the Chiefs early with a shoulder injury, Michael DiRocco of ESPN.com reports.