The Baltimore Ravens and Lamar Jackson took time to come to terms on their first long-term contract. The club hopes to get in front of things this time around.
On Monday morning from the NFL's Annual League Meeting, head coach John Harbaugh was asked about a potential extension for Jackson, who inked a five-year, $260 million contract in 2023.
"There's been conversations about that internally, I know," Harbaugh said. "How far along that is or whatever, I don't know. I definitely think it's an obvious point ... that's going to continue to have to be addressed, really with all those guys. You just kinda manage that dance, the salary cap dance, and Lamar is the main part of that because he's the franchise player. That's a possibility, I think. Sooner or later, definitely is gonna have to happen."
Jackson's not the only member of the Ravens' offensive backfield who could be in line for a new deal.
Running back Derrick Henry is heading into the final season of his two-year pact with Baltimore, having run for 1,921 yards and an NFL-high 16 touchdowns in 2024.
Harbaugh would be happy to see Henry re-up with his crew, as well.
"It's definitely in the conversation," the coach said. "I know that's been talked about, and yes, I'd love to see that get done as well."
Two years ago, after an elongated standoff during the last negotiating process, which included Baltimore placing the non-exclusive franchise tag on Jackson, the sides agreed to a new deal worth a then-record $52 million per year. Since then, Jackson's deal has been leapfrogged eight times over, placing the two-time NFL MVP ninth in per-year average among quarterbacks.
While there is no massive impetus for the team to get a deal done ASAP, it will only get more expensive as things spin forward and QB contracts continue to increase. As we saw with Josh Allen's new contract, which provided a record-setting $250 million guaranteed, teams are getting ahead of these big deals. Patrick Mahomes is also in line for a reworked pact.
Jackson is due $20.25 million in base salary in 2025, with a $43.5 million salary cap number. Next year, that base balloons to $51.25 million with a $74.5 million salary cap figure. So, if nothing comes to fruition this offseason, the Ravens will be incentivized to reconfigure the pact in 2026, whether through an extension or, at the very least, a restructure that spreads out those figures.
Jackson is currently under contract through 2027.
