Getty Lamar Jackson is reportedly expected to earn over $40M a year from his next contract.
Lamar Jackson is going to get paid whenever he signs his next contract. That’s an understatement based on the latest rumors surrounding the Baltimore Ravens’ starting quarterback.
Jackson has still not agreed a new long-term contract with the Ravens. The franchise appears content to wait on the player to decide his next step.
However that unfolds, some around the NFL believe Jackson’s base salary for 2022 will almost double for his next deal, according to one reporter.
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ESPN Report Puts a Price on Jackson’s Next Contract
Jackson could be in line for money that puts “him among the three highest-paid quarterbacks” in football, according to ESPN’s Jamison Hensley: “Those in league circles expect Jackson’s payout to exceed $40 million per season.”
Hensley speculated if Jackson will earn more than Buffalo Bills’ starter Josh Allen, who is paid $43 million annually. The reporter also wondered if Jackson’s next deal will match the six-year contract Allen signed last year, or will it be the same as the four years Dak Prescott agreed to with the Dallas Cowboys?
It’s typical of Jackson’s current situation that there are more questions than answers. One thing that is clear is Jackson will far exceed his 2022 base salary of $23,106,000 whenever he signs new terms.
The Ravens are counting on Jackson ultimately opting to stay in Baltimore, but a few things need to be decided before any agreement is reached.
Timing Key for Both Jackson and the Ravens
As Hensley pointed out, there’s not necessarily an immediate rush to strike a deal this offseason. Not when Jackson is playing on the fifth-year option of his rookie contract.
While he’s carrying a hefty salary for this year, Ravens.com Editorial Director Ryan Mink believes the team is still getting value for money:
On Lamar Jackson’s 5th-year option price of $23.1 million.
There are currently 11 quarterbacks slated to have higher cap hits than that in 2022, including Jimmy G, Wentz, Goff, Tannehill, Watson, Cousins, Ryan, etc.
$23 million is a bargain.
A franchise tag is one option to prevent Jackson hitting the free-agent market a year from now, but Hensley noted the daunting cost of such a ploy: “In theory, Baltimore can place the tag on Jackson for two years. That means the Ravens can hold onto Jackson through the 2024 season without an extension, although it might cost them over $40 million in that final season.”
The better choice appears to be coming to terms before this year’s free-agency period begins on Wednesday, March 16. That way the Ravens can set their cap limits and start making decisions regarding their own veterans who are set to hit the open market.
There are some key names on that list, per Spotrac.com. Names like defensive linemen Calais Campbell and Brandon Williams, along with wide receiver Sammy Watkins and Pro-Bowl fullback Patrick Ricard.
It’s also true the Ravens, who are projected to have $9,862,591 worth of space under the cap, need to add a few more playmakers to Jackson’s supporting cast. Another wide receiver looks like a must, and this is a good year to go hunting for one when quality options like Chris Godwin, Juju Smith-Schuster and Allen Robinson are all available.
Any one of those sure-handed targets would help Jackson accelerate his maturation as a passer. Jackson worked on pushing the ball vertical more often, per PFF Bet, before his ankle injury cost him the final five games of this season:
Highest average depth of target passing this season (min. 300 dropbacks):
Lamar Jackson – 10.4 yards/target 🚀
Jackson is still only 25 and committed to refining his game. His best option is to continue doing so in Baltimore, where the Ravens have committed to building a contender based on his talents.
The sooner the two sides come to terms, the sooner Jackson and the Ravens can focus on making amends for this season’s 8-9 finish and making a playoff push in 2022.