The Baltimore Ravens and quarterback Lamar Jackson are working toward a contract extension, with general manager Eric DeCosta expressing confidence a deal can be reached before the NFL’s new league year opens March 11.
Jackson, who represents himself, has two years remaining on the five-year, $260 million contract he signed in 2023. He is scheduled to count $74.5 million against the salary cap in 2026 — the league’s second-highest figure — on a base salary of $51.25 million, of which $29 million is fully guaranteed, plus a $750,000 workout bonus. The same figures apply in 2027.
DeCosta, speaking at the NFL Scouting Combine on Feb. 24, said he is “definitely” confident an agreement can be finalized. He described Jackson as “very engaged” in recent conversations, including during the team’s coaching search, and noted the sides have an understanding to keep negotiation details private — the same approach used successfully three years ago.
“We’ll continue those conversations moving forward,” DeCosta said.
An extension would likely create about $30 million in cap space and keep the two-time NFL MVP under contract for another three or four years. Ravens owner Steve Bisciotti has made clear the priority is to have a deal in place before free agency begins so the team can conduct business without the looming $74.5 million cap hit.
If no extension is reached by the March 11 deadline, the Ravens have automatic conversion rights in the existing contract that would allow them to add void years, convert salary to signing bonuses and reduce the 2026 cap number by as much as $38 million without Jackson’s approval. The team prefers a new deal, however, to avoid pushing additional dead money into future years for which Jackson is not yet signed.
As of Saturday, no new details had emerged since DeCosta’s comments, and recent reports indicated talks remain ongoing with little public movement.
Jackson, 29, became the NFL’s highest-paid player at the time with his previous deal but now ranks 10th in average annual value as the quarterback market has risen. DeCosta has said the sides will handle the process internally and that the team feels it can begin free agency on solid footing regardless.
No timeline for a potential announcement has been disclosed, but both sides have expressed a desire to resolve the situation promptly.
