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Baltimore Ravens to pick up fifth-year option on Lamar Jackson’s contract

There’s been a lot of talk about former NFL MVP Lamar Jackson and his contract status with the Baltimore Ravens. The dual-threat signal caller became eligible for an extension for the first time this offseason, joining his 2018 NFL Draft classmates in potentially receiving a lucrative long-term deal.

Unfortunately, things seem to be slow moving in this regard. There’s also been some ridiculous “rumors” floating about that the Ravens could look to trade Jackson rather than pay him over the long-term. The idea would be to replace him with a quarterback under a rookie deal. We shot down those rumors in an aggressive way recently.

As for Lamar Jackson and his shorter-term future with the Baltimore Ravens, head coach John Harbaugh noted on Tuesday that they will pick up the fifth-year option on his rookie contract for the 2022 season.

In no way can this be seen as a surprise. Jackson, 24, has been a brilliant performer throughout his three-year tenure with the Ravens after they made him a first-round pick back in 2018.

Lamar Jackson career stats: 7,085 passing yards, 2,906 rushing yards, 87 total touchdowns, 18 interceptions

The former Louisville standout shockingly earned NFL MVP honors as a first-year full-time starter in 2019, tallying north of 4,300 total yards with 43 total touchdowns against a mere six interceptions.

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Lamar Jackson contract option value

It’s not yet known what the exact amount of Jackson’s contract option for the 2022 season will be. Spotrac notes that it will be roughly $23 million given Jackson’s status as a one-time Pro Bowl performer.

When looking at cap hits for quarterbacks in 2022, that would come in as the 13th-highest figure at that position. It goes without saying that Jackson has more than earned his keep in this regard.

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Lamar Jackson contract extension

Lamar Jackson contract after Kolton Miller extension
Jan 16, 2021; Orchard Park, New York, USA; Baltimore Ravens quarterback Lamar Jackson (8) drops back to pass against the Buffalo Bills during the first quarter of an AFC Divisional Round game at Bills Stadium. Mandatory Credit: Rich Barnes-USA TODAY Sports

Both Baker Mayfield of the Cleveland Browns and Buffalo Bills star quarterback Josh Allen are also eligible for extensions for the first time this offseason. It seems as if their teams are also taking a wait-and-see approach with Buffalo potentially set to start discussions on an Allen extension after the 2021 NFL Draft this week.

As for Jackson, his market will likely be more predicated on what happens with Allen than Mayfield given the success the current Baltimore Ravens quarterback has had in three seasons.

With the market dynamic at quarterback having changed on a near never-ending loop over the past few years, it would not be a surprise if Jackson joined Patrick Mahomes and Dak Prescott as the only $40 million per-year quarterbacks. Of course, that’s all dependent on whether Allen gets his deal done first.