Why Ravens' Lamar Jackson may not sign contract extension before 2027

Whether or not the Baltimore Ravens and quarterback Lamar Jackson can agree to terms on a contract extension before training camp gets underway continues to be the biggest story hovering over the Ravens amid the NFL's ongoing summer break. 

It turns out that Jackson may have at least four reasons not to put pen to paper on a deal until next spring or summer. 

"Wouldn't be surprising" if Lamar Jackson does this amid contract situation?

"The two-time NFL Most Valuable Player has two years left on his deal," ESPN's Jamison Hensley said about Jackson on Monday. "It wouldn't be surprising if Jackson waited until next offseason to see the landscape of quarterback contracts. The Bears' Caleb Williams, Commanders' Jayden Daniels, Patriots' Drake Maye and Broncos' Bo Nix become extension-eligible immediately after the 2026 regular season."

A recent update indicated that the Ravens still aren't all that close to locking Jackson down via a new deal, which is concerning for the club since the terms of his existing agreement prevent Baltimore from retaining his rights for 2028 via the franchise tag or trading him without his consent. That same report shared that "Jackson is far more concerned with full guarantee at the time of signing, and securing more than three years fully guaranteed, than he is about setting a new record for annual salary." 

History shows Lamar Jackson will be patient

While Jackson remained on his current contract through the winter and the spring, the Kansas City Chiefs recently handed Patrick Mahomes a reworked deal. Hensley is among those who think the value of Jackson's next extension may have become more expensive the minute Mahomes signed his agreement. 

"Jackson showed he was in no rush in March, when the Ravens pushed for a new deal and failed to get one," Hensley continued. "It's unknown where talks stand because the Ravens and Jackson, who represents himself, never comment on negotiations. One recent development that could affect talks between Jackson and Baltimore is Patrick Mahomes' new deal, which reset the quarterback market at $63M per season."

In 2023, Jackson showed he's not afraid to use a trade request to get what he wants regarding a contract. It remains to be seen how Ravens owner Steve Bisciotti and general manager Eric DeCosta will respond if a similar scenario plays out over the first few months of 2027.