When is the NFL MVP announced? All you need to know as Lamar Jackson and Josh Allen tussle for 2024 crown

The NFL MVP Award is given to the best player in the regular season. It has been won by Hall of Famers such as Peyton Manning and Brett Favre and future Hall of Famers like Tom Brady, Aaron Rodgers and Patrick Mahomes.

Some have tagged this year's race as the closest in years. Two dual-threat quarterbacks are the odds favorites: Josh Allen of the Buffalo Bills and reigning MVP Lamar Jackson of the Baltimore Ravens.

Before the coronation, let's examine when the 2024 NFL MVP Award will be announced.

When is the NFL MVP announced?

According to Pro Football Network, the 2024-25 MVP award will be presented on Feb. 6, 2025, at 9 p.m. EST at Saenger Theatre in New Orleans.

The MVP Award is one of many that will be handed out that night. The other awards are:

• AP Assistant Coach of the Year
• AP Coach of the Year
• AP Comeback Player of the Year
• AP Defensive Player of the Year
• AP Defensive Rookie of the Year
• AP Offensive Player of the Year
• AP Offensive Rookie of the Year
• Art Rooney Sportsmanship Award
• Deacon Jones Sack Leader Award
• FedEx Air & Ground Players of the Year
• Next Gen Stats Moment of the Year
• NFL Fan of the Year
• NFL FLAG Players of the Year award
• NFL Inspire Change Tribute
• NFL Latino Youth Honors presented by P&G
• Salute to Service Award presented by USAA
• Walter Payton NFL Man of the Year

Furthermore, the 2024 Hall of Fame Class will be honored at the ceremony for their contributions to American football.

Who is the favorite to win the NFL MVP Award?

According to USA Today, Josh Allen (-450 via USA Today) is the odds favorite to win this season's MVP Award. The Buffalo Bills superstar had a phenomenal year as he guided his side to the second seed in the stacked AFC with a 13-4 regular-season record.

Allen racked up a stat line of 3,731 passing yards, 28 touchdowns and six interceptions. He added 531 rushing yards and 12 TDs for good measure in 17 games. His stats are even more impressive considering how he was written off at the start of the season after he lost his main target, Stefon Diggs, to a conference rival in the Houston Texans.

Lamar Jackson (+320) leads the rest of the pack, as he enjoyed arguably the best season of his career. Jackson would be a lock for the MVP in most other seasons due to his impressive stats with the Baltimore Ravens. However, the bookmakers think Allen has done enough to bag his first MVP Award.

Other players in the top three of MVP odds are Philadelphia Eagles running back Saquon Barkley (+8000), Cincinnati Bengals quarterback Joe Burrow (+10000), and Detroit Lions quarterback Jared Goff (+15000).