Jake Ferguson may not be the only beneficiary of the four-year, $52 million contract extension he signed with the Dallas Cowboys.
Baltimore Ravens tight end Isaiah Likely could also be pleased with the deal Ferguson inked with the Cowboys.
Ferguson’s deal includes $30 million guaranteed, which sets a strong benchmark for other young tight ends. While Ferguson has been the Cowboys top tight end since 2023, his 2024 production dipped slightly, perhaps in part because of an injury to Dak Prescott. Despite this dip in production, the Cowboys still viewed him as a worthy investment, which bodes very well for a player like Likely, who has similar production despite fewer opportunities.
Cowboys, TE Jake Ferguson agree to 4-year, $52M extension. (via @RapSheet) pic.twitter.com/Y5LJcRvHb4
— NFL (@NFL) July 27, 2025
Likely’s role in Baltimore has been unique since entering the league. Playing as the backup to Mark Andrews, Likely has put together strong numbers, posting 108 receptions for 1,261 yards and 14 touchdowns through three seasons. In 2024, he caught 42 passes for 477 yards and six TDs, proving that he can produce when given actual opportunities. With Andrews exiting his prime and the Ravens having multiple tight ends set to hit free agency in 2026, Likely could be poised for a larger role and emerge as the team’s future TE1.
The comparison between Ferguson and Likely is compelling. Ferguson has only 41 more catches and 168 more yards than Likely, despite Ferguson being in a better situation than Likely. Likely has doubled Ferguson’s touchdown production and has proven to be a strong red zone threat. If the Ravens increase his role in 2025, Likely could easily surpass his usual numbers and potentially even have a better year than Ferguson.
If Likely takes advantage of an increased role and produces around 700+ yards with consistent red zone success, he could easily command a big time pay day, one that might exceed the deal Ferguson just agreed to. His athleticism and ability to make big plays gives him a ceiling that rivals some of the NFL’s top tight ends.
Ferguson’s extension helps set the bar for Likely, but if Likely improves, he could surpass that contract in both average annual value and guaranteed money. For Likely, 2025 is shaping up to be a massive year that defines his long term value. We will have to wait and see if he can dominate like many expect.
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