Ravens Lamar – Baltimore’s offseason overhaul has not solved the biggest question on the roster: whether Lamar Jackson’s next contract gets done in time. After a surprising 2025 collapse, the Ravens restructured Jackson’s deal in March, but it dramatically reshaped their 202
For the second straight season, the Ravens have entered an offseason with noise around their quarterback. But this time, it isn’t just about how they looked on the field—it’s about how the clock is working against them.
Baltimore finished the 2025 season 8-9 and missed the playoffs for the first time since 2021, a steep fall from their 12-5 finish in 2024. The drop was especially jarring given they entered 2025 as one of the Super Bowl favorites.
After the season. Baltimore made one of the biggest coaching changes in franchise history. firing head coach John Harbaugh after 18 years with the organization. Within a couple of months. the Ravens brought in 43-year-old Jesse Minter to replace him and signed four-time Pro Bowler Trey Hendrickson to anchor the defense.
Then came the move meant to steady Jackson’s situation—and the part that has turned into a problem that keeps getting bigger.
In March, the Ravens restructured Lamar Jackson’s contract. The change reduced his 2026 cap hit from $74.5 million to $34.54 million by converting salary into a signing bonus. But it also pushed the cap consequences into the future. Jackson’s 2027 cap figure surged to $84.49 million.
General manager Eric DeCosta acknowledged the team “ran out of time” to finalize an extension before free agency opened in March. The delay means Baltimore is now heading into minicamp season with one of the biggest unresolved questions in the NFL: whether Jackson will sign a new deal before he hits free agency in 2028.
Owner Steve Bisciotti had said he wanted an extension finalized before the start of free agency in March. That didn’t happen, and negotiations have stayed quiet. When Jackson was asked about the talks, he said, “That conversation was in 2022. It’s 2026,” declining to revisit his once-stated preference for a fully guaranteed deal.
Jackson has continued to publicly keep things close to the vest while signaling loyalty to Baltimore. He has said “absolutely” that he wants to stay. DeCosta, for his part, has expressed confidence that Jackson loves the team, the city, and the fanbase. Everyone involved is saying the right things. The contract just isn’t done.
One problem sits beneath those assurances: the numbers.
Jackson is set to hit free agency in 2028, and the Ravens know they may not get a second chance if they wait too long. Fowler flagged one top storyline heading into minicamp season: Baltimore wants to extend Jackson, but no major progress has been made.
Fowler also noted a possibility that could make the stalemate work in Jackson’s favor. Some around the league believe Jackson could be considering waiting until next offseason to maximize his value. because 2027 could reset the quarterback market. Drake Maye, Caleb Williams, and Jayden Daniels all become eligible for extensions then. If any of those young quarterbacks sign monster deals first, Jackson would enter negotiations holding even more leverage.
That leverage is already visible in the market. Jackson’s value entering 2026 sits at around $62.6 million per year, the highest figure in the NFL, according to Spotrac. Such a number would shatter Dak Prescott’s current NFL-record $60 million annually.
If Jackson waits another season and the young quarterback market moves north, his price floor rises with it. For Baltimore, though, the urgency is not theoretical.
Jackson’s 2027 cap hit is projected at $84.34 million, the second-highest in the NFL. Without an extension in place. it would make it nearly impossible for the Ravens to make meaningful offseason moves heading into that year. Even if Jackson is no longer on the roster, the contract mechanics could still hurt. If the Ravens don’t agree to an extension. they’ll be on the hook for $42.47 million in dead cap in 2028 due to the void years created in the restructure.
So Baltimore did what it could do elsewhere—new coaching leadership, a pass-rusher addition in Trey Hendrickson, and efforts to rebuild confidence after a 2025 season that shook the fanbase. The one signature it most needs remains unfinished.
The expectation is leaning toward Jackson ultimately signing a new contract next offseason. But the Ravens know that every passing minute increases the likelihood his price tag climbs higher. while their cap situation narrows their margin for maneuver. The clock is ticking, and Jackson is still playing like someone who doesn’t have to rush.
Baltimore Ravens Lamar Jackson NFL contract NFL cap hit Jesse Minter John Harbaugh Trey Hendrickson minicamp free agency 2028 DeCosta Steve Bisciotti