Ravens QB Lamar Jackson had once said, “I knew I wanted to be rich and for my people to be well-off.” Money doesn’t make the world go round; we’ve all heard that saying. But you can’t deny it certainly helps. And look at the rags-to-riches story that is Jackson. After losing his father and grandmother on the same day, it was his mother who raised young Jackson and his siblings single-handedly. While friends around him saw jail time for their ‘get-rich-fast’ schemes, that wasn’t who Lamar Jackson was. He doubled down, worked hard, and made sure his family was well off. This wasn’t just about getting rich. It was about changing destiny.
Interestingly, Lamar Jackson was the highest-paid QB at the time when he got the $260 million contract from the Ravens. But there were no agents involved in this? Lamar negotiated the deal himself, standing his ground and making his case with GM Eric DeCosta. And it wasn’t a ‘walk in and get paid’ kind of deal, either. The negotiation went on for months. The QB even dropped a trade request because he wasn’t getting a guaranteed deal. And this worked, as he finally got the dough.
The Ravens gave him $185 million guaranteed, including a $72.5M signing bonus. They also gave him what he really wanted: flexibility. Three years of security. A clean early out. And just enough cap manipulation to get him back to the table quickly, if he played well. But he did more than that. He won his second MVP. He led the NFL in QBR. He took Baltimore to the AFC Championship. So, now, when Lamar Jackson dropped a message on money, we knew it wasn’t just something in passing.
Lamar shared a quote recently on his IG story. “Please dont die if u owe me money. I would hate to go thru yo pockets at the funeral ,” the quote went. And underneath it, Jackson had a powerful question. “Now I’m wrong or I should’ve let it go?” And this question hits harder, especially as he awaits a contract update for himself. Jackson has a $52 million per year salary. But while he’s making the big bucks, he’s no longer the highest-paid QB in the NFL. And an extension should be in the books soon.
Baltimore Ravens quarterback Lamar Jackson 8 smiles after Baltimore defeated Pittsburgh 28-14 in the AFC Wild Card game at M&T Bank Stadium in Baltimore, Maryland, on Saturday, January 11, 2025. PUBLICATIONxINxGERxSUIxAUTxHUNxONLY BAL20250111130 DAVIDxTULIS
Jackson isn’t just waiting on the Ravens to pay up. He also made a recent splash on the small screen with his debut in Power Book III: Raising Kanan. While his career after the NFL may already be in the works, there’s still the question of his contract. The Ravens have recently given a $30 million contract extension to RB Derrick Henry. This makes Henry the 3rd highest paid RB in the league. So if his teammates are reeling in the money bags, maybe Jackson will get his payday extension soon as well.
Lamar Jackson’s contract extension and $74.5m cap
The Ravens can’t let Lamar Jackson throw down another trade request. With so many teams needing veteran play callers, some franchise is bound to snag him the moment he hits the market. And if you listen to the front office, a contract extension may already be in the works behind the scenes. HC John Harbaugh was also asked about this. Harbaugh’s response? “There has been conversations about that internally, I know – How far along that is or whatever, I don’t know, but I definitely think it’s an obvious point that you’re making. That’s going to continue to have to be addressed, really with all those guys. You just have to kind of manage that dance – the salary cap dance – and Lamar is the main part of that, because he’s the franchise player. Sooner or later, that’s definitely going to have to happen.”
The Ravens are not going to let their crucial players go. That is evident with the extension Derrick Henry has received. And there is another thing to be considered. The salary cap for Lamar Jackson. As NFL insider Jeff Zrebiec recently wrote, “His cap number balloons to $74.5 million next year – The Ravens would love to reach an agreement on an extension with Jackson before the start of the season.” An extension right now would give the Ravens a chance to push back some of that $74.5 million cap, which comes in 2026. So, a decision may be coming soon on the contract, and Jackson will certainly be happy if it’s as soon as possible.
Lamar Jackson’s $260 million contract expires in 2027. Derrick Henry’s extension will also run through to the 2027 season. So while we wait for a contract decision from Harbaugh and DeCosta, we can be sure to see powerful plays between Jackson and Henry for this duration. It’s not a question of ‘if’ at this point. The extension is coming. But this time around, will Lamar Jackson be able to become the highest-paid QB in the league again? He’d have to rise above Dak Prescott, who’s averaging a massive $60 million a year. Do you think that might happen again?
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