Projecting Baltimore Ravens next contract extension with Lamar Jackson

The NFL offseason featured a busy free-agency period filled with blockbuster contracts and major extensions for franchise cornerstones. The Baltimore Ravens were among the league’s most active teams, and they could soon turn their attention to negotiating another massive deal with their star quarterback.

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Lamar Jackson still has two years remaining on the five-year, $260 million extension he signed in April 2023. That contract included $185 million in total guarantees. At the time, Jackson reportedly sought a fully guaranteed deal, but Baltimore was unwilling to meet those demands.

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Even so, Jackson secured one of the richest contracts in NFL history and now appears poised for another significant payday. The Ravens could attempt to finalize a new extension this offseason, but negotiations may ultimately stretch into next spring. Either way, Jackson’s next contract projects to reach record-setting territory.

Baltimore Ravens quarterback Lamar Jackson (8) with center Tyler Linderbaum (64) and guard Andrew Vorhees (72) at the line of scrimmage in the first quarter against the Buffalo Bills at Highmark Stadium. Credit: Mark Konezny-Imagn Images

Current Projections

The NFL’s highest-paid quarterback on an annual basis is currently Dak Prescott of the Dallas Cowboys. Prescott signed a four-year, $240 million contract in 2024 that includes $231 million in total guarantees. Jackson’s next deal should comfortably surpass that benchmark.

According to Spotrac, Jackson’s market value entering the 2026 season sits at approximately $62.6 million per year. If the Ravens reach an agreement this offseason, a contract worth between $61 million and $63 million annually appears realistic.

If Baltimore waits until next offseason, that figure could climb closer to $65 million per year, especially if quarterback salaries continue to rise. The next major questions involve contract length and guarantees.

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Jackson turns 30 next January, but he remains firmly in his prime. While many view him primarily as an elite dual-threat quarterback because of his rushing ability, he has also established himself as one of the NFL’s top passers. The two-time MVP should command at least a four-year extension, though a five-year deal appears more likely. Anything longer seems unlikely given his age and the Ravens’ typical contract structure.

Oct 13, 2024; Baltimore, Maryland, USA; Baltimore Ravens quarterback Lamar Jackson (8) greets offensive coordinator Todd Monken prior to the game against the Washington Commanders at M&T Bank Stadium. Mandatory Credit: Mitch Stringer-Imagn Images

Final Prediction

The expectation here is that Jackson ultimately signs a new contract next offseason. While Baltimore would benefit from locking him up sooner rather than later, it would not be surprising if Jackson chooses to bet on himself for another season in hopes of maximizing his value heading into 2027.

With that in mind, the projected contract looks like this:

Years: 5
Total Value: $317.5 million ($63.5 million per year)
Total Guarantees: $250 million

Such a deal would establish a new NFL record for average annual value and total guarantees while keeping Jackson under contract with Baltimore through the 2032 season.

If the Ravens can complete an extension before the start of the 2026 season, the final numbers could come in slightly lower. However, every passing season increases the likelihood that Jackson’s price tag climbs even higher.

Should the Ravens get this deal done sooner rather than later?

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