Lamar Jackson, Ravens Agree to Terms on New Contract

The Ravens and Lamar Jackson agreed to a long-term deal just hours ahead of the NFL draft.

The contentious standoff between the Ravens and star quarterback Lamar Jackson  finally reached a resolution on Thursday when the two sides agreed to a five-year $260 million contract extension, the team confirmed on Twitter. 

The new deal makes the dual-threat signal-caller the highest paid player in the league. Josina Anderson of CBS Sports reports that the deal rewards Jackson with $185 million in guaranteed money. 

NFL Network’s Ian Rapoport was the first to break the news on an agreement between the two sides. The news came just minutes after Jay Glazer of Fox Sports reported that “major progress” had been made between the two sides.

The 2019 league MVP contract demands have dominated the NFL offseason headlines as both sides worked a long-term deal. Jackson's deal surpasses the record $255 million extension signed by Eagles quarterback Jalen Hurts, per Rapoport. 

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The Ravens and Jackson were at an impasse based upon Jackson’s desire for a fully guaranteed deal. In March, Baltimore placed the non-exclusive franchise tag on Jackson, which gave both sides until July 17 to reach a multi-year extension.

We’ve agreed in principle on a 5-year contract extension with QB @Lj_era8‼️

😈😈😈😈 pic.twitter.com/tQj1Rzqcha

— Baltimore Ravens (@Ravens) April 27, 2023

Up until Thursday, Jackson had refused to sign the offer, and publicly announced that he had requested a trade from the team on March 2. Just hours before the start of the 2023 NFL draft, the two sides finally have secured the face of their franchise through the 2027 season.