Update: Despite guaranteed money being a real sticking point for Jackson, it is surprising to see that the final deal isn’t fully guaranteed. It’s a $260 million deal, with $185 million guaranteed.
League source just added that the total "guaranteed" portion on Lamar Jackson's deal is $185M. https://t.co/L8FHaAxEIU— JosinaAnderson (@JosinaAnderson) April 27, 2023
Update: Details of the contract are slowly starting to trickle in. We are still awaiting the terms for guaranteed money, but the new deal for Jackson is said to be five years for $260 million.
It's a 5-year deal for $260M for Lamar Jackson, source said. The new highest paid QB.— Ian Rapoport (@RapSheet) April 27, 2023
Update: It is a five-year deal for Jackson, who will be under contract with the team through the 2027 season now. The quarterback will be 30 years old when this new deal ends.
A few days before the 2023 NFL Draft, Lamar Jackson tweeted out a cryptic GIF of Spongebob Squarepants grinning. This could have meant anything from his getting traded to another team to the Baltimore Ravens making a splash move to entice the quarterback to sign his franchise tag. Ahead of the first round on Thursday, ESPN’s Jamison Hensley, who covers the Ravens, tweeted the following:
Just got a text: "Good news on the way for the Ravens."— Jamison Hensley (@jamisonhensley) April 27, 2023
Jay Glazer, Dan Graziano, and Ian Rapoport then reported that talks between the Ravens’ front office and Jackson on an extension had ramped up. Barring any setbacks in the contract talks, it is being reported that confirmation of the extension is expected to come sooner rather than later. It is safe to assume that if a deal is agreed upon, it will be one of the bigger contracts in history with a lot of guaranteed money, which is what had held up talks previously.
Jackson has struggled with injuries his last two seasons. He has logged only 12 games each year and hasn’t been active in each game of the season since 2018. Jackson threw for 2,242 yards with 17 touchdowns and seven interceptions before getting sidelined with his latest injury. He only ran the ball 112 times for 764 yards and three more scores.
Baltimore seems to finally understand they need to put more weapons around their franchise quarterback. Heading into the 2023 NFL Draft, where they pick 23rd overall, the Ravens have signed both Odell Beckham Jr. and Nelson Agholor in free agency. There is wide speculation that they could make more moves, with rumors surrounding a wideout at 23 or a deal with the Arizona Cardinals for DeAndre Hopkins. At the very least, a healthy Jackson with better weapons gives Baltimore leverage in a top-heavy AFC North.