Report: Lamar Jackson's new contract with Ravens expected to be between $40M-$45M per year

Baltimore Ravens quarterback Lamar Jackson is expected to land a contract extension sooner rather than later. 

According to ESPN's Dan Graziano, Jackson's deal is expected to average between $40 million and $45 million per season. His deal is viewed as the likeliest to be completed among his peers from the 2018 draft class, including Josh Allen and Baker Mayfield. 

"It wouldn't surprise people around the league if Jackson's deal came in behind Mahomes' $45 million-a-year average and ahead of Prescott's $40 million, but as always, the key will be to watch the structure and guarantees," Graziano writes. 

Jackson likely won't top the $45 million per year Mahomes receives because he hasn't been able to lead the Ravens past the second round of the playoffs in his three-year career. Mahomes, meanwhile, has led the Kansas City Chiefs to two straight Super Bowls and three consecutive AFC Championship Games. 

However, Jackson put together a promising 2020 campaign and got Baltimore out of the first round of the playoffs for the first time since 2014.

The 2019 MVP has compiled a 30-7 record as Baltimore's starter while throwing for 7,085 yards. He also has 2,906 rushing yards and is the first QB in NFL history with multiple 1,000-plus-yard rushing seasons. 

In addition to Mahomes ($45 million AAV) and Prescott ($40 million AAV), Deshaun Watson ($39 million AAV) and Russell Wilson ($35 million AAV) are among the NFL's highest-paid quarterbacks, according to Spotrac.