The next time Baltimore Ravens QB Lamar Jackson signs a contract, he will be the highest-paid player in NFL history. That is the goal for both sides, as he was after his first contract extension. And that is the goal for every contract he signs from now until he retires, HC John Harbaugh said.
Addressing the media during the annual league meetings, Harbaugh didn’t offer any reservations. He believes that in Lamar Jackson the Ravens have the best player in the league, and the salary that follows. As things stand, he has already fallen behind considerably, but that’s what happens when the next guy signs a contract.
“The value is the top”, he said of how the Ravens value Jackson. “When Lamar gets paid, he’s going to be the highest-paid player in football, just like he was last time. I think every contract he signs till he decides to hang up his cleats, he’s going to be that guy”.
Jackson signed a five-year, $260 million contract in 2023, paying him $52 million per season. Already, that only ranks eighth in the NFL in terms of average annual salary. The Cowboys’ Dak Prescott tops the list at $60 million, followed by Joe Burrow and Josh Allen at $55 million.
Burrow signed his extension the same year the Ravens extended Jackson, but did so later in the year. He got a total of $275 million, bumping him up $3 million per year at the time over Jackson. When he first signed the deal, however, it was the highest average annual salary in league history.
Since then, Lamar Jackson has had two first-team All-Pro seasons, and was the NFL MVP in 2023. Last season, he finished second in MVP voting to Josh Allen, despite earning first-team honors over him. Arguably, the Ravens saw the best season of his career a year ago.
During the 2024 season, Jackson went 316-for-474 passing for 4,172 yards, 41 touchdowns, and 4 interceptions. He rushed for 915 yards and four more touchdowns, though also saw 10 fumbles charged against him. While he helped the Ravens to a 12-5 record, beating the Steelers in the Wild Card Round, they lost to Allen’s Bills in the Divisional Round.
Lamar Jackson’s current contract with the Ravens runs through the 2027 season. Typically for franchise quarterbacks, they receive new contracts with two years remaining on their deal, meaning Jackson should be new for a new extension in 2026.
A rough early estimate of what the NFL salary cap might look like in 2026 puts it at about $307 million. How much higher might the Ravens go with Jackson’s deal over Prescott’s $60 million benchmark? Currently, that figure is so far above anybody else that it’s hard to gauge.
Over the past two seasons, the Ravens have seen considerable improvement from Jackson as a passer. During that time, he has completed 67 percent of his passes with a 65-to-11 touchdown-to-interception ratio. He is averaging 8.4 yards per pass attempt with a 111.3 quarterback rating. In the same span, he has rushed for 1,736 yards and nine touchdowns, and is capable of more.
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