Ravens Renegotiated Contract Of QB Lamar Jackson

Aditi Kinkhabwala reports that the Ravens renegotiated the contract of QB Lamar Jackson on Tuesday to pick up extra cap space for 2026.

This was most likely done in preparation for the trade involving Maxx Crosby, which has since fallen through due to his medical report.

ESPN’s Dan Graziano reported that the Ravens would like to finalize a contract extension with Jackson this offseason, even though he has two more years remaining on his deal, which is worth $53 million per year.

Jackson has no guaranteed money included in his contract beyond the 2026 season, which is why his contract will be a topic of discussion. Baltimore has options under Jackson’s current deal, as they could add void years to lower his cap figure. However, Graziano says their preference is to simply sign Jackson to a new deal.

Mike Garafolo previously reported that the Ravens will give zero consideration to trading Jackson despite some speculation around the league.  Ravens owner Steve Bisciotti said after the season that the goal was to have an extension for Jackson finalized before free agency in March. 

“The urgency of that matters to me because we’ve got free agents and I don’t want to go into free agency with that hanging over our head,” Bisciotti said. “I made that clear to Lamar and I think he was very appreciative of my stance and hopefully willing to work with Eric and not get this thing dragged out into April.”

Jackson, 28, is a former first-round pick of the Ravens back in 2018. He played out the fourth year of his four-year, $9,471,652 contract that included a $5,968,472 signing bonus.

The Ravens picked up Jackson’s fifth-year option, which cost them $23 million, fully guaranteed for the 2022 season. He was due to be an unrestricted free agent in 2023 when the Ravens used the non-exclusive franchise tag at a cost of $32.3 million, fully guaranteed. 

Baltimore later signed Jackson to a five-year, $260 million extension. He’s due base salaries of $20.25 million, $51.25 million, and $51.25 million in the final three years of the deal.

In 2025, Jackson appeared in 13 games for the Ravens and threw for 2,549 yards, 21 touchdowns, and seven interceptions while completing 63.6 percent of his passes. He also rushed 67 times for 349 yards and two touchdowns.

We will have more on Jackson as it becomes available.