After a phenomenal season where he nearly clinched his third MVP title, Baltimore Ravens quarterback Lamar Jackson has reaffirmed his status as one of the top quarterbacks in the NFL. As a result, the Ravens are reportedly exploring a new long-term extension with their franchise star.
Appearing on Sunday’s SportsCenter, ESPN NFL insider Jeremy Fowler shared that the Ravens might emulate the Josh Allen contract model when negotiating Jackson’s next deal, potentially finalizing it as early as this offseason.
> “The sense here around the league is that Baltimore could follow the blueprint that Buffalo put together back in March when they extended Josh Allen, even though he had multiple years left on his contract. The feeling is, get ahead of that huge quarterback market money in three or four years from now, just pay your guy now when he’s got multiple years left on his current deal,” Fowler explained.
Lamar Jackson contract (via Spotrac): $43.5 million cap hit in 2025; $74.5 million in both 2026 and 2027
This reported plan marks a significant shift from the Ravens’ previous handling of Jackson’s contract situation. Back in March 2023, Baltimore placed the non-exclusive franchise tag on Jackson, allowing him to negotiate with other teams while still giving the Ravens the right to match any offer. Had Jackson signed elsewhere and the Ravens declined to match, the team would have received two first-round picks as compensation.
Despite being free to talk with other clubs, no teams pursued Jackson—many even made public statements ruling themselves out. Ultimately, Baltimore re-signed him a month later to a five-year, $260 million deal. The contract was structured with a potential future extension in mind, evident in the steep cap hits in 2026 and 2027. Jackson becomes a free agent in 2028, when he will be 31 years old.
Lamar Jackson 2024 stats (via ESPN): 4,172 passing yards, 41 touchdowns to 4 interceptions, 66.7% completion rate, 8.8 yards per attempt, 119.6 QB rating, 915 rushing yards, 4 rushing touchdowns
The Josh Allen extension referenced by Fowler was a six-year, $330 million deal that replaced an earlier four-year, $129 million contract. Should the Ravens mirror that approach, Jackson’s next extension could exceed $60 million per year, potentially securing him through his mid-30s.
