Clock Ticking for Ravens' Lamar Jackson Extension

On March 31, Baltimore Ravens head coach John Harbaugh publicly confirmed that the team was looking into a contract extension with two-time MVP quarterback Lamar Jackson, even going so far as to say "sooner or later, that's definitely going to have to happen."

More than three months later, there hasn't been much movement on said extension.

Jackson, 28, signed a five-year, $260 million extension in April of 2023, making him the highest-paid player in the league at the time with an average annual value of $52 million. However, not only is Jackson now the 10th highest-paid quarterback in the league after other stars have signed extensions of their own, but his cap hit jumps up dramatically starting in 2026. So, there's motivation on both sides to get a deal done.

According to Jeff Zrebiec of The Athletic, Jackson's extension is the on most worth keeping an eye on for the rest of the offseason, despite the Ravens having some more pressing deals to attend to.

"The Ravens have multiple key players entering contract years who are candidates for extensions, including center Tyler Linderbaum, tight ends Isaiah Likely and Mark Andrews and edge rusher Odafe Oweh," Zrebiec wrote. "They also want to extend All-Pro safety Kyle Hamilton, who is under contract through 2026."

"But everything starts with the franchise quarterback. When Jackson signed a five-year, $260 million extension in 2023, it was always viewed as a three-year pact. Jackson’s cap number rises to $74.5 million in 2026 and 2027, an untenable number for building a Super Bowl-caliber roster around the two-time MVP quarterback. Jackson isn’t going anywhere, but the Ravens need to work out a deal with him within the next nine months to give themselves some cap breathing room."

Harbaugh also noted that Jackson "is going to be the highest-paid player in football" once his new deal gets done. Assuming he means by average annual value, Jackson's new extension would need to come in at over $60 million per year, which is what Dallas Cowboys quarterback Dak Prescott is making.

Jackson's extension could come later this summer, or it could come early next offseason. We'll just have to wait and see.