Ravens Mull Lamar Jackson's Contract Extension in Internal Discussions

PALM BEACH, Fla. — When quarterback Lamar Jackson signed a five-year, $260 million contract extension with the Ravens in 2023, it immediately made him the highest-paid player in the NFL. But things move quickly in the league, particularly when it comes to the game’s most important position.

Despite Jackson having twice been named NFL Most Valuable Player and becoming the first player to pass for at least 4,000 yards and rush for at least 900 in the same year, as he did last season, there are now eight other quarterbacks averaging more money per year than Jackson’s $52 million.

That's merely one of several factors prompting internal discussions, as mentioned by Coach John Harbaugh during Monday's press conference at the NFL's yearly owners meeting, regarding an extension for the quarterback's contract.

“How far along that is, I don’t know,” Harbaugh said.

And what might the value of a new contract for the star quarterback be?

“The value is the top,” the longtime coach said. “When Lamar gets paid, he’s going be the highest-paid player in football, just like he was last time. I think every contract he signs, probably until he decides to hang up his cleats, he’s going to be that guy.”

An extension would be beneficial to both Jackson, who does not have an agent, and the Ravens. His current deal runs through the 2027 season and is slated to count more than $74.65 million against the team’s 2026 salary cap.

At such a high number, it could also be cost-prohibitive for Baltimore, which has other key players on the team due for extensions.

You simply need to handle the intricacies of the salary cap, and Lamar is central to this process since he is the cornerstone player," Harbaugh stated. "This will inevitably need to be addressed at some point.

After signing his previous agreement, Jackson has raised his performance level even higher and solidified his position as maybe the top player in the game.

In 2023, he guided the Ravens to secure the top record in the NFL (13-4), bringing them close to their inaugural Super Bowl appearance until they were defeated by the Kansas City Chiefs, 17-10, during the AFC championship match held at M&T Bank Stadium. The previous season saw him surpass himself yet again, setting personal records for both passing yards (4,172) and touchdown passes (41). Additionally, among fellow quarterbacks, he stood out as the leader in rushing yards (915) and contributed another four rushing touchdowns.

Related Articles

• READER POLL: Who should take over as Maryland’s next men’s basketball coach?
• When could Baltimore potentially host the NFL Draft? It may take some time. | NOTES
• Ravens President on Justin Tucker’s Accusers: “Great Courage and Bravery”
• 5 key issues looming for the Ravens ahead of NFL owners meetings
• Baltimore Ravens head coach John Harbaugh inked a three-year contract extension.

He nearly won a third NFL MVP Award, too, narrowly losing out to Buffalo Bills quarterback Josh Allen.

Earlier this month, Allen agreed to a six-year, $330 million extension with the Bills that will keep the 28-year-old in Buffalo through the 2030 season. It makes him the league’s highest-paid player for the moment and includes a reported $250 million guaranteed.

Jackson’s current deal includes $185 million in guaranteed money, and while his cap number for this season is $43.65 million, it will balloon significantly each of the next two seasons. That creates urgency to get a new deal in the next year to free up salary cap space before free agency next offseason.

It may not be particularly simple. Jackson’s previous agreement required over two years of strenuous negotiations. included a publicly visible trade request from Jackson During the 2023 league gathering in Phoenix.

However, the quarterback's influence within the team goes further than his performance during games. At last month's scouting combine, General Manager Eric DeCosta referred to him as both a "stakeholder" and a "partner." Additionally, DeCosta mentioned that he might meet up with Jackson, who resides approximately 45 minutes south of where these annual gatherings are being held.

On Sunday, Ravens President Sashi Brown refrained from commenting on a potential contract extension for Jackson, choosing instead to direct inquiries to DeCosta. However, he did express, "We have great affection for Lamar. It’s exciting to witness his growth both as an individual and as a key player and leader within our team."

The knock against Jackson, of course, has been his play in the postseason.

The Ravens hold a record of only 3 wins out of 8 playoff games under Jackson's leadership and haven’t made it to the Super Bowl since selecting him as their first-round pick in 2018. He has accumulated an unfortunate total of 11 turnovers during his post-season appearances—this includes two costly mistakes in Baltimore’s defeat against the Bills in last year's divisional round—which ranks highest among all players over this period.

Got a news lead? Reach out to Brian Wacker. bwacker@baltsun.com , 410-332-6200 and x.com/brianwacker1 .

©2025 Baltimore Sun. Visit GudangMovies21. Distributed by Tribune Content Agency, LLC.