Franchise quarterback Lamar Jackson is staying with the Baltimore Ravens on a five-year contract, agreeing to terms Thursday mere hours before the start of the NFL draft.
Financial terms were not yet released, but NFL Network reported the deal was worth $260 million. The average annual value of $52 million would make Jackson the highest-paid player in NFL history.
The deal includes $185 million in guaranteed money, CBS Sports reported.
After the Philadelphia Eagles awarded quarterback Jalen Hurts a record-setting five-year, $255 million extension on April 17, the Ravens “offered (Jackson) a deal that trumped it,” per NFL Network.
The Ravens revealed the news by posting a video message from Jackson on social media.
“You know, for the last few months, there’s been a lot of ‘he said, she said.’ A lot of nail-biting, a lot of head-scratching going on. But for the next five years, there’s a lot of flock going on,” Jackson told the camera, a reference to the team’s “Ravens Flock” nickname for Baltimore’s fan base.
We’ve agreed in principle on a 5-year contract extension with QB @Lj_era8??
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— Baltimore Ravens (@Ravens) April 27, 2023
The agreement ends a lengthy saga that heated up this spring when the 2019 NFL MVP revealed he’d requested a trade on March 2.
Jackson, 26, represented himself in negotiations. Talks geared toward a long-term deal were launched more than a year ago, general manager Eric DeCosta said.
Jackson missed the final five games of the 2022 regular season, plus the wild-card playoff loss at Cincinnati, with a knee sprain. He did not travel with the Ravens for the game against the Bengals, sparking speculation he was ready to move on in the offseason.
It was the second straight season in which his season ended with an injury. He missed the final four games in 2021 due to a ankle injury.
The Ravens placed the $32.41 million non-exclusive franchise tag on Jackson at the deadline in early March. Under the terms of the tag, Jackson was free to talk to other teams who could have made an offer sheet; if the Ravens then chose not to match the offer sheet, they would command two first-round picks in exchange for Jackson.
Baltimore signed free agent wide receiver Odell Beckham Jr. this month and he said he hoped to catch passes from Jackson but was given no assurances that Jackson would be his teammate.
In 12 games last season, Jackson threw for 2,242 yards with 17 touchdowns and seven interceptions. He also led the Ravens in rushing with 764 yards and three touchdowns.
Jackson has played in 70 games (61 starts) since the Ravens selected him with the last pick of the first round in the 2018 NFL Draft. He has completed 63.7 percent of his passes for 12,209 yards with 101 touchdowns and 38 interceptions. He has run for 4,437 yards and 24 scores.
He has a 45-16 record as a starter.
–Field Level Media
