When Should the Ravens Offer Lamar Jackson an Extension?

Baltimore Ravens star quarterback Lamar Jackson inked a five-year, $260 million dollar deal to remain with his team in April of 2023, ending an ugly period in which Jackson felt undervalued not just by his team, but by the NFL as a whole.

He was there for anyone who wanted him for a moment there, with the Ravens waiting until well after they could have signed him to more money. Not one team, even the quarterback-needy ones, seemed willing to touch the former MVP amidst lingering injury concerns.

Since agreeing to remain a Raven, Jackson has discovered a second part of his prime, rattling off two consecutive healthy seasons after a few years of inconsistency and tacking on two First Team All-Pro appearances along with being named Most Valuable Player within a year of resigning.

Baltimore can't afford to procrastinate on Jackson's next deal, which they're still three years out from having to manage. The team has cap hits of $74.5 million to look forward to in the final two years of the deal, starting in 2026, according to ESPN's Adam Schefter, which another extension can level out over a longer period.

The team's best course of action would be to put pen to paper on another deal before his upcoming $43.5 million paycheck takes its scheduled jump between seasons, which would make Jackson the newly-highest-paid player in NFL history. Dak Prescott currently holds that record with his four-year, $240 million agreement, with some of Jackson's peers like Josh Allen, Patrick Mahomes and Jordan Love signing similarly hefty deals in recent years.

Allen, Jackson's old draft-classmate, just agreed to terms on a six-year deal two months ago, netting the reigning MVP $330 million over the next six years to look forward to. It's likely in the best interest of the forward-thinking Ravens and the deserving Jackson to avoid the song and dance of the early 2020s, rewarding their centerpiece proportionately.