Allen will receive $12 million in the first year of the deal and five million in year two. A total of $16 million is guaranteed. The length and money involved, plus the team's interest could spell the end of Coby Fleener with the Colts.
The former second round pick had just 16 catches last season, splitting time with Fleener. Allen had one TD and 109 yards receiving. Fleener, meanwhile, caught 54 passes for 491 yards and 3 TDs.
He has 91 career catches in his four-year NFL career. His best season, by far, came in 2014. In 13 games, he caught 29 passes for 395 yards and 8 TDs.