Lamar Jackson and the Ravens were unable to agree upon a contract decision ahead of the quarterback’s self-imposed deadline on Friday, meaning that he’ll play out the fifth year of his rookie contract this season.
On Sunday, additional details about the negotiations came to light, just before Baltimore took the field against the Jets. According to ESPN’s Chris Mortensen and Adam Schefter, Jackson turned down a five-year extension offer worth over $250 million with $133 million guaranteed at signing.
The extension, which would’ve run through the 2027 season, would have increased the total of Jackson’s deal to just shy of $274 million over the next six years, according to ESPN. The contract would have paid the former MVP a higher average annual salary than the deals signed be fellow quarterbacks Russel Wilson and Kyler Murray earlier in the summer.
However, Jackson was angling for his extension to be fully guaranteed at signing, similar to the one signed by Browns quarterback Deshaun Watson. The Ravens reportedly did not want to fully guarantee the deal, according to ESPN, resulting in the two sides temporarily halting talks for the duration of the 2022 season.
“Despite best efforts on both sides, we were unable to reach a contract extension with Lamar Jackson,” Ravens general manager Eric Decosta said in a statement Friday.
“We greatly appreciate how he has handled this process and we are excited about our team with Lamar leading the way. We will continue to work towards a long-term contract after the season, but for now we are looking forward to a successful 2022 campaign.”
Jackson remains on the books in 2022 for just $23.016 million under the fifth-year option on his rookie contract. After that, the Ravens will have an opportunity to place the franchise tag on him or sign him to a long-term deal ahead of the 2023 campaign.
Jackson, 25, represented himself in the negotiations, rather than utilizing an agent, which been the subject of some consternation in league circles. ESPN reported that the signal-caller relied heavily on the advice of the NFL Players Association, who said that Jackson was justified in asking for a fully guaranteed contract.
Jackson and the Ravens open their 2022 season at the Jets on Sunday at 1 p.m. ET.
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