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Lamar Jackson lands record-breaking contract extension with the Baltimore Ravens

For the better part of the past calendar year, former NFL MVP Lamar Jackson and the Baltimore Ravens have been engaged in a contract stalemate.

That was taken to a whole new level back in March when Jackson indicated that he had requested a trade from the Ravens after they played the dreaded franchise tag on him.

With trade rumors swirling leading up to the 2023 NFL Draft, there was a small chance that Jackson would be calling another NFL city home next season.

That’s not going to happen.

According to NFL Media’s Ian Rapoport, Jackson has agreed to remain with the Ravens on a new contract extension that will make him the highest-paid player in NFL history. The Ravens made this official by announcing they have signed Jackson to a five-year extension.

Jackson himself had been boisterous on social media in talking about how extension talks were going, even providing numbers as it relates to what Baltimore had offered earlier in the process. Now that the two sides have come to terms on a new contract, the landscape changes completely.

Details of Lamar Jackson’s contract with the Baltimore Ravens

  • Years: 5
  • Total value: $260 million
  • Average salary: $52 million
  • Total guarantees: $185 million

Jackson’s new deal surpasses the five-year, $255 million extension Jalen Hurts just recently signed with the Philadelphia Eagles earlier this offseason. His $185 million in total guarantees now ranks second among NFL players behind Deshaun Watson of the Cleveland Browns.

Related: Lamar Jackson and the highest-paid NFL QBs of 2023

Lamar Jackson’s importance to the Baltimore Ravens

Washington Commanders, Lamar Jackson
Jessica Rapfogel-USA TODAY Sports

Since Baltimore made Jackson a late first-round pick back in 2018, he has posted a 45-16 record as its starting quarterback. With him sidelined during this span, the Ravens are a mere 8-13. That tells us what we need to know about his value to the team.

While Jackson has taken a step back from a statistical standpoint over the past two seasons, a lot of that has to do with injuries. When on the field, he’s been a dynamic dual-threat in Baltimore.

In his first full season as a starter during his sophomore campaign back in 2019, Jackson tallied 43 total touchdowns compared to six interceptions en route to earning the NFL MVP award. Despite the previous contract standstill, Baltimore has indicated numerous times just how much it values Jackson.

“You can’t win in this league without a strong quarterback. That’s been proven. We want Lamar here, we think he’s one of the best quarterbacks in the league and he’s certainly one of our best players.

Baltimore Ravens GM Eric DeCosta on Lamar Jackson back in March

The two are now tied at the hip for the next five seasons.

We will have further information on the details of Lamar Jackson’s contract once they become available.

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