Lamar Jackson’s contract situation lingered over everything for the past year in Baltimore, as the Ravens had to figure out what they were willing to pay their former MVP quarterback. Jackson, who negotiated for himself without an agent, held firm on his demands, seeking a large guaranteed amount, which was the unsurprising sticking point in negotiations.
In February, the two sides were further apart than ever, leading to Baltimore placing the non-exclusive franchise tag on the star QB, allowing him to negotiate with other teams who could sign him to an offer sheet, while Jackson issued a trade request. There were no teams that jumped up immediately to make an effort to give Jackson a contract that Baltimore wouldn’t match, leading the two sides to eventually meet back at the negotiating table as the NFL Draft approached.
With Jalen Hurts getting an extension done in Philly that pays him $255 million over five years (with $179 million guaranteed for injury), a new bar was set for Jackson’s negotiations. The Ravens were willing to put forth an offer that exceeded Hurts’ deal, according to Ian Rapoport, and on the day of the Draft, a deal was struck to keep Jackson in Baltimore through 2027, as he announced officially in a video through the team’s Twitter account.
We’ve agreed in principle on a 5-year contract extension with QB @Lj_era8
— Baltimore Ravens (@Ravens) April 27, 2023
It’s a 5-year deal for $260M for Lamar Jackson, source said. The new highest paid QB.
— Ian Rapoport (@RapSheet) April 27, 2023
League source just added that the total “guaranteed” portion on Lamar Jackson’s deal is $185M. https://t.co/L8FHaAxEIU
— JosinaAnderson (@JosinaAnderson) April 27, 2023
The agreement makes Jackson the league’s highest paid player, topping Hurts’ deal while also not matching the fully guaranteed figure Deshaun Watson got in Cleveland that the league as a whole has seemingly been trying to make out to be an albatross, not the new standard. For Jackson, it’s proof that he was right to hold out as long as he could for the best possible deal, with the Ravens recognizing they needed to get their quarterback situation solidified by the time they got on the clock in the 2023 Draft.
After signing Odell Beckham Jr. and getting a new offensive coordinator in Todd Monken, the Ravens offense hopes to be more dynamic as a passing attack this coming season than it has been in some time. Jackson will continue to be the face of that, and Ravens fans can finally shift their attention to excitement about the future rather than worrying about joining the teams trying to find their franchise QB.