Lamar Jackson

For the time being, Lamar Jackson is working as his own agent. Although the former MVP did not confirm that will remain the case during extension talks, he currently stands to play the lead role in his negotiations. The fourth-year Ravens passer addressed his status Wednesday.

John Harbaugh said earlier this offseason a Jackson extension would commence either this year or next. Because the Ravens picked up Jackson’s fifth-year option, he is under contract through 2022. His timetable still appears fluid.

“I’m not really worried about if it gets done this year or next year,” Jackson said (video link). “We’re going to see. We don’t know yet.”

Jackson’s rookie deal calls for a $1.77MM base salary this season. The 24-year-old superstar confirmed he and GM Eric DeCosta began to discuss his second contract earlier this year. Dak Prescott‘s four-year, $160MM extension figures to be a key benchmark in Jackson’s talks, just as Deshaun Watson‘s four-year, $156MM pact factored into Prescott’s down-to-the-wire negotiations. Patrick Mahomes‘ $45MM-AAV deal — a 10-year re-up — continues to look like an outlier.

Prescott opted to maximize his value, not agreeing to his extension until the franchise tag deadline ahead of his sixth season. The rest of the recent QB draftees to sign lucrative extensions — Mahomes, Watson, Carson Wentz, Jared Goff — opted to lock in big money earlier. Each agreed to deals ahead of their fourth seasons. Jackson and Josh Allen are on the same timetable; Baker Mayfield factors into this picture as well, though the Browns are not believed to have talked an extension yet. Each 2018 first-rounder has become extension-eligible at an interesting time for the quarterback position.

This offseason has brought tremendous QB movement. Five 2020 starters have been traded thus far this year; Watson and Aaron Rodgers are eager to join the carousel. Jackson, however, is not presently interested in exploring his options beyond Maryland.

“I would love to be here forever,” Jackson said. “I love Baltimore. I love the whole organization. I love everybody in the building. Hopefully, we’ll be making something happen pretty soon whenever.”

Photo courtesy of USA Today Sports Images.

The Ravens and Lamar Jackson have kicked off extension talks, according to GM Eric DeCosta. Jackson, who represents himself, is currently scheduled to earn just $1.77MM in base salary this season.

“That’s ongoing. That’s definitely a fluid thing. Lamar and I have had a discussion about that,” DeCosta said (YouTube link). “I think it’s important to us and it’s important to him. I think Lamar is obviously a very patient guy. He wants to be the best he can be. He wants this team to be the best it can be and he wants to win very badly. So, we’re aligned that way.”

There’s mutual interest in a new deal, though the Ravens aren’t necessarily in a rush. Beyond his low-priced 2021 season, the Ravens can exercise Jackson’s fifth-year option — a fully guaranteed $23.1MM — to keep him under club control through 2022.

If the numbers are right, Jackson would probably prefer to take the safer route. Quarterbacks like Russell Wilson, Patrick Mahomes, Jared Goff, and Carson Wentz all opted for security ahead of their fourth-year rookie contracts and earned sizable paydays. On the other hand, he could follow Dak Prescott‘s playbook, which resulted in a four-year, $160MM megadeal.

Photo courtesy of USA Today Sports Images.

The Ravens are said to be far apart in extension talks with Lamar Jackson. According to a source who spoke with Mike Florio of PFT, those discussions haven’t actually started yet. 

[RELATED: Ravens, Jackson Far Apart?]

Often times, conflicting reports like these are a matter of semantics. Do broader conversations about years/dollars qualify as negotiations? That depends on who you ask. But, as Florio notes, Jackson does not have an agent, so it’s hard to imagine that the Ravens have gotten especially deep in talks.

As it stands, Jackson is set to make just $1.77MM this year. In 2022, per the new collective bargaining agreement, his fifth-year option will be equivalent to the quarterback transition tender for 2021. Jackson triggered that by making a Pro Bowl. The QB transition tender was worth $21.75MM last year. This year, after the cap reduction, it should still fall somewhere near $20MM.

The higher value of the fifth-year option gives Jackson some additional leverage. It’s likely that he’ll seek a deal in the range of Deshaun Watson‘s four-year, $156MM extension. Watson’s pact gave him a $39MM average annual value and included a healthy $73MM guaranteed at signing. But, as of this writing, it sounds like the two sides have yet to truly engage.

Photo courtesy of USA Today Sports Images.

John Harbaugh said the Ravens will explore an extension with Lamar Jackson either this year or next. It looks like the sides are already talking.

The Ravens and their MVP quarterback have begun discussing a new deal, but Ben Volin of the Boston Globe notes the sides are far apart at this juncture. Jackson, who became extension-eligible in January, is due just a $1.77MM base salary in 2021. The Ravens will surely pick up his fifth-year option by May, locking him down through 2022.

Since taking the reins of Baltimore’s offense midway through his rookie season, Jackson has played the centerpiece role in the team’s ascent in that time. The Ravens missed the playoffs from 2015-17, and while they have assembled high-end defenses during Jackson’s years, his historically elite rushing talents and improvement as a passer have re-established the team as an AFC power. Some factors could work against a Jackson deal being done soon, though.

While it would make sense for Jackson to secure an extension ahead of making that low-end base salary this season, a few recent quarterback re-ups have gone quite poorly. Carson Wentz and Jared Goff both regressed after signing big-ticket extensions ahead of their fourth seasons. They are now on other teams, with the trades forcing the Eagles and Rams to eat record-setting dead-money sums. A clear Jackson peer, Deshaun Watson has requested a trade less than six months after signing a $39MM-per-year Texans extension. That development figures to at least give teams pause. On the other end of this, the Cowboys’ near-two-year run of negotiations with Dak Prescott has driven up the QB’s price immensely.

Watson’s deal would make sense as a floor for Jackson, even though the former has shown far more as a passer to this point. The imminent salary cap reduction has long been expected to be a one-year blip, and the anticipated run of TV deals should do plenty to boost the 2022-and-beyond caps. Jackson and Josh Allen stand to benefit. And the Bills’ talks with their quarterback, expected this year, will pertain to Jackson. Allen has not offered as much consistency as Jackson, though the Buffalo passer rocketed onto his 2018 draft classmate’s level with a dominant 2020 season. Both QBs entering their fourth seasons will tie together their respective negotiations.

The Ravens have already extended two other cornerstone players — Ronnie Stanley and Marlon Humphrey — but they have a key issue at edge rusher to navigate soon. Matt Judon and Yannick Ngakoue are free agents; so are two key backups. Baltimore also has an extra year to negotiate with Jackson; the team does not have that luxury with Mark Andrews, a third-round pick entering a contract year. Jackson, though, represents this puzzle’s biggest piece. His talks with the Ravens will be a key NFL matter in the coming weeks/months.

Photo courtesy of USA Today Sports Images.