Lamar Jackson still has two years left on his current deal. That has not stopped a fresh number from circulating around the league. A number that would make him the highest-paid player in NFL history by a significant margin.
Jackson signed a five year, $260 million extension with the Baltimore Ravens in May 2023. That deal included $185 million in guarantees and ran his average salary to $52 million per year. It reset the quarterback market at the time. Two years later, the market has moved past it.
Dec 14, 2025; Cincinnati, Ohio, USA; Cincinnati Bengals quarterback Joe Burrow (9) and Baltimore Ravens quarterback Lamar Jackson (8) meet after the game at Paycor Stadium. Mandatory Credit: Joseph Maiorana-Imagn Images
In March 2026, the Ravens restructured Jackson’s contract to create immediate cap space instead of signing a full extension. According to a report by NFL insider James Palmer, Jackson’s next deal could land at $70 million annually.
General manager Eric DeCosta confirmed something of the restructure in March after talks on a full extension stalled. “We were able to free up, I think, just under $40 million this year,” DeCosta said, adding the team remains hopeful an extension gets done. The move pushed Jackson’s 2027 cap number to $84.49 million, the highest in the league.
CBS Sports laid out the math behind the $70 million figure. Jackson’s original $52 million annual salary, adjusted for salary cap inflation since 2023, lands close to $70 million in today’s market. That would top Dak Prescott’s $60 million per year deal with the Dallas Cowboys by more than 16 percent.
Bleacher Report analysts have projected deals in the $65–70 million per year range, with one example being a four-year, $266 million extension. “Expect the two sides to hammer out a deal in the $65 million to $70 million per year range,” Kay wrote. Jackson turns 30 in January and remains under contract through 2027, with a no-tag clause that would make him a free agent in 2028 if no deal is reached.
Lamar Jackson Restructure Creates Massive 2027 Cap Problem
The March restructure dropped Jackson’s 2026 cap hit from $74.5 million to $34.54 million. But it did not erase the bill. It pushed the number into 2027, where Jackson is now set to count $84.49 million against the cap with no extension in place. That figure alone would be the largest single-season cap hit by a quarterback in NFL history if it stands.
Jackson does not have an agent and negotiates his own deals. Owner Steve Bisciotti addressed the situation directly in January, saying, “It’s very hard to build a roster when that thing is not settled.” The situation carries extra complexity after the Ravens parted ways with longtime head coach John Harbaugh earlier this year.
Spotrac currently projects Jackson’s market value around $62–63 million per year, though many expect the final number to land higher. A separate report tied his next deal to Patrick Mahomes’ recent $64 million annual extension in Kansas City, calling it the new floor for top quarterbacks. Where Jackson lands between that floor and $70 million will set the market for Caleb Williams, Jayden Daniels and every quarterback behind them.
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