ESPN's Field Yates reported Allen's new deal was a one-year, $3 million deal with an extra $2 million possible in incentives.
Around this time last year, Allen signed for Oakland. The Raiders were set to pay him $23 million over four years. It looked like an overpay at the time, and the team decided to cut bait just one year into the contract, cutting Allen on Feb. 9, per ESPN.
Jordan Raanan of NJ Advance Media congratulated Allen and his agent, Todd France, for managing to get a tidy sum from the Raiders:
BTW: Just getting caught up on stuff. Fact that Nate Allen pocket $7 million for 1 year w/Raiders amazing. Todd France wins agent of year.— Jordan Raanan (@JordanRaanan) February 10, 2016
A torn MCL forced Allen to miss six games early in the year, and the injury continued to linger as he played his last game in Oakland's Week 13 defeat to the Kansas City Chiefs before going back on injured reserve. In five appearances, he had 11 combined tackles and an interception.
Allen's contract dominated so much of his narrative last year. Even if he had stayed healthy the entire way, it's unlikely his performances would've lived up to what the Raiders were paying him. In that respect, his four-year deal made him a rich man but also set him up to fail in the Bay Area.
Oakland wasn't going to make the same mistake of giving the 28-year-old more than he was actually worth, which will result in more reasonable expectations in 2016. His value on the field could prove to exceed his contract since his value is so low following his injury issues.
Allen can be a productive safety in the NFL. In 2014, he recorded 62 combined tackles, a forced fumble and four interceptions, and in his five years with the Philadelphia Eagles, he started in 69 games.
Once he hit the open market, Allen wasn't going to be the most in-demand safety, but he'd unquestionably have some suitors who weren't looking to target the top tier of players. As it turned out, one of them was the same team that landed him last season.