We’ve known for some time that former NFL MVP Lamar Jackson was not going to discuss a potential contract extension with the Baltimore Ravens in-season. We just didn’t know exactly what the deadline would be.
That’s now changed. Jackson spoke with reporters on Wednesday, days before his Ravens open the season against the New York Jets. In said presser, the Pro Bowl quarterback indicated that Friday is the deadline to sign a new deal.
It’s been a drama-filled offseason for Jackson and the Ravens. That was magnified after the quarterback market continued to reset itself on a near never-ending basis, culminating in new deals for both Kyler Murray and Russell Wilson. Previously, Jackson had noted that he was motivated to get something done.
“I think so. I think so. I think so. We’ll have to see. There will probably be a cutoff at some point. So, hopefully,” Lamar Jackson on contract talks back in July.
We now know that that cut-off point is, and it’s coming quickly.
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Still time for Lamar Jackson contract extension before Week 1
By setting a Friday deadline, Jackson is now putting the ball in Baltimore’s court. He also noted that the two sides were still engaging in extension talks, meaning something could get done here within the next 48-52 hours or so.
A report late last month indicated that Baltimore had offered Jackson more than the five-year, $230.5 million extension Murray signed with Arizona. However, the guaranteed cash Deshaun Watson received from the Cleveland Browns complicates things here. Watson agreed to a fully-guaranteed five-year, $230 million deal with Cleveland shortly after being acquired from the Houston Texans in a blockbuster trade this past spring. Murray received a “mere” $103.3 million in fully-guaranteed cash.
- Lamar Jackson contract: $23.02 million salary in 2022; free agent in 2023
12 highest-paid quarterbacks in the NFL
As you can see, Jackson is vastly underpaid in the grand scheme of things. In fact, his $23.02 million salary for 2022 ranks 15th among NFL quarterbacks, behind the likes of Jared Goff, Caron Wentz and Ryan Tannehill.
The good news on this front is that Baltimore has recently upped its offer to Jackson heading into the season opener. The bad news? Baltimore’s ownership group has refused to make said offer fully guaranteed.
Jackson certainly has some options here. He can play out the 2022 season before being handed the franchise tag in 2023. Said deal would equate to an average of the five highest-paid quarterbacks in the NFL (roughly $46.5 million). He could technically also play under the tag in 2024 with that value coming in at 120% of his 2023 salary.
This is what has complicated negotiations between Lamar Jackson and the Ravens over the next several hours. The question now becomes whether Jackson is willing to bet on himself in 2022 at the expense of a ton more guaranteed cash than that $23.02 million.