Dak Prescott's Deal Impacts Lamar Jackson's Market Value

Baltimore looking to reach an extension with Jackson.

Quarterback Dak Prescott reached a four-year, $160 million contract with the Dallas Cowboys — a contract that further sets the table for Lamar Jackson's future with the Ravens.

Prescott reportedly gets $126 million in guaranteed money and he will earn $75 million dollars next season, the most of any player in a single season in NFL history.

Ravens general manager Eric DeCosta has informally spoken to Jackson already this offseason will initiate a contract extension later this year. DeCosta contends Prescott's new deal won't have a huge impact on negotiations with Jackson. 

"I think when you look at a contract like Dak, and he’s a great player … As an executive, when you’re talking about these kinds of contracts, it’s like if you go to the Bentley dealership or the Ranger Rover dealership, you know what the cars are going to cost," DeCosta said. "You’re not going to get much of a discount; they all cost about the same. 

"You go in there with the idea that you’re either going to buy the car, or you’re not going to buy the car. So, all of these contracts, there are bells and whistles, and they’re all different in some ways, and they’re all alike in some ways." 

Nonetheless, after Prescott's deal, Jackson could be looking for at least $40 million per season. The Ravens are confident they can find common ground with their franchise quarterback and former league MVP. 

Jackson is not due to become an unrestricted free agent until 2023, but the Ravens have prioritized reaching deals with their key playmakers before they test the free-agent market. However, the NFL is still working out the details of how much teams can spend this year after dealing with the challenges of COVID-19 over the past year.

Patrick Mahomes jolted the market for quarterbacks with a 10-year extension worth up, $503 million deal with the Chiefs. The deal is the most lucrative in North American sports history, surpassing the previous mark set by Los Angeles Angels outfielder Mike Trout, who signed a 12-year, $426.5 million contract in 2019. 

Texans quarterback Deshaun Watson inked a four-year, $156 million extension in September and that would be a better model for a potential new deal for Jackson.

A new deal for Jackson would likely be worth about $43.5 million annually over a four-year extension.

"There are a lot of different ways to look at these contracts," DeCosta said. "There’s average. There are guarantees. There’s money in the first three years, cash flow and all these different things, time length and all of that. But in the end, they’re all very big contracts for outstanding players. They’re quarterback deals. They’re marquee players, and you know you’re going to pay a lot, but you’re going to get a lot in return.”

If the Ravens can't get a new deal completed early in the offseason, DeCosta will undoubtedly exercise Jackson's fifth-year option by May 3.

One year after being named NFL, MVP, Jackson had another solid season in 2020. He threw for 2,757 yards with 26 touchdowns and nine interceptions (99.3 rating). Jackson also became the first quarterback in league history to record two 1,000 yards rushing seasons.

"We're confident and committed to trying to get a long-term deal done and hopefully we can get that done at some point in the near future," DeCosta said. "It might take a little time but we're willing to try."