When Lamar Jackson signed a five-year, $260 million deal following his rookie contract, the Ravens were betting on him to “win now.”
However, as the terms of that contract come to light, it appears the window is almost closed.
Jackson went down with a thumb injury against the Bills, taking him out for most of the season. The two-time MVP and single-season quarterback rushing-yard record holder is a pivotal component of the Baltimore Ravens offense.
This injury could mark the last time Jackson wears purple and black. The primary reason for this is his contract, which will have a significant ripple effect next season.
The Ravens Structured Jackson’s Deal Around a Championship Window
In early 2023, Jackson signed the (at the time) largest deal for a quarterback in NFL history. While this contract is impressive on its own, one structural detail makes it even more significant long-term.
The Ravens backloaded the contract, which meant that the Ravens only paid Jackson roughly $30 million per season for the previous three seasons. The issue is that the Ravens still need to pay the rest of the money.
General manager of the Ravens, Eric DeCosta, made this decision under the impression that Jackson would take a later pay cut to help the team. Other elite quarterbacks like Tom Brady and Aaron Rodgers have taken pay cuts to keep rosters competitive. This decision also came with the implication that the Ravens were betting on their earlier rosters to deliver a championship while Jackson’s cap hit was low.
The strategy was simple: have Jackson on a cheaper contract so they can sign and extend valuable pieces (such as Derrick Henry, Kyle Hamilton, and Zay Flowers) so that the Ravens can compete for the Lombardi Trophy.
However, three years later, the Baltimore Ravens have gone 2-2 in the playoffs. In the Lamar Jackson era, Baltimore has only been to the conference championship once (2023), and lost its only appearance.
An $84 Million Cap Hit Is Coming Whether Jackson Stays or Goes
By forcing the Ravens into this “win now” window, DeCosta caused another conflict: the future of the Baltimore Ravens. In the case where Jackson doesn’t sign an extension, the Ravens must absorb the $84 million cap hit. In other words, unless the Ravens trade Jackson, they will have to cut other key players.
Furthermore, the Baltimore Ravens have looked mediocre without Jackson under center. In games that Jackson hasn’t played, Baltimore holds a record of 7-14. Aside from a come-from-behind victory in Atlanta, backup quarterback Tyler Huntley has lost both starts since.
Outside of the Falcons game, Baltimore has put up just 23 points in the two divisional games without Jackson. Following Huntley’s injury, Joe Fagnano started against the Jacksonville Jaguars on Thursday Night Football. The offensive line gave him minimal time, and Jacksonville’s defense often pressured him.
Jackson’s Time in Baltimore May Already Be Over
It appears that Lamar Jackson’s time in Baltimore is most likely finished. As discussed, this will have a ripple effect on both the Baltimore Ravens and the rest of the league.
There’s no way to be certain what will and won’t happen. Will the Ravens trade him and rebuild, or absorb the cap hit and try to compete without him?
Either way, Baltimore’s direction hinges on what happens next with Jackson’s contract.
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