After months of uncertainty, star quarterback Lamar Jackson knows where he will be playing in 2023, and how much money he will be making. Hours before the first round of the 2023 NFL Draft, the Baltimore Ravens and Jackson agreed to a five-year deal worth $260 million, which includes $185 million guaranteed. Jackson's new AAV of $52 million makes him the highest-paid player in NFL history.
It's been quite the journey for Jackson and the team that drafted him No. 32 overall in 2018. He didn't sign an extension as soon as possible -- even with an NFL MVP on his resume -- he was given the franchise tag and even requested a trade. But now, the dust has settled, and the Ravens found a way to keep their star quarterback.
We do not yet know every single detail of the contract, and many will be interested in the pay structure. But the bottom line is that this is a move with massive ramifications that will be felt around the league. Below, we will break down winners and losers from this big-time transaction.
Winner: Ravens
Well duh. The Ravens never wavered in their belief Jackson was going to be a Raven for years to come. They remained optimistic not only that he would be in the fold for 2023, but that they would get a long-term deal done. That deal got done on Thursday.
Jackson has become one of the best quarterbacks and most dynamic players in the entire league. He led the NFL in touchdown passes in 2019, and broke Michael Vick's 13-year-old record for single-season rushing yards for a quarterback. Naturally, Jackson won MVP that year. Getting this deal accomplished before the beginning of the draft also gives the Ravens franchise more clarity as they prepare for the most important event of the offseason.
Baltimore is also a winner because it didn't have to match Deshaun Watson's fully-guaranteed deal. We will have more on that later.
Loser: Cincinnati Bengals and Los Angeles Chargers
Time is ticking! The longer you wait, the more you'll pay! The Bengals and Chargers have two things in common: They both have franchise quarterbacks they want to keep around for a very long time, and they both want to get deals done with said quarterbacks relatively soon. With Jackson's $52 million AAV and $185 million guaranteed, two new floors have been established for Joe Burrow and Justin Herbert to discuss in negotiations.
Jackson's new record contract actually surpasses a deal agreed to just 10 days ago, as Jalen Hurts received a five-year, $255 million deal. If Hurts had held out just another couple weeks, his contract may have looked different.
Winner: Philadelphia Eagles
Howie Roseman proves time and time again that he's one of the best general managers in the NFL. It wasn't cheap locking down Hurts, but he's sure glad he did when he did! Maybe it's not guaranteed that Jackson's deal would have affected Hurts' if Lamar signed a couple weeks ago, but any good agent would have tried to up the ante. Congrats to the Eagles for getting that extension done ASAP.
Loser: AFC North
Not so fast Raven rivals! You have to imagine the Bengals, Pittsburgh Steelers and Cleveland Browns were holding out some hope Jackson's trade request was final, and that he was on his way out of the division. Sorry, that's not going to happen. You'll continue to have to defend one of the most dynamic quarterbacks twice a season for years to come.
Winner: Joe Burrow and Justin Herbert
Their values just keep going up and up. It will be fascinating to see which quarterback signs first and how their contracts will be structured. Will one go the Jackson route and hold guaranteed money in high regard? Could one sign a 10-year deal similar to the contract Patrick Mahomes inked years ago? The bottom line is that Burrow and Herbert are going to make more money than they would have if they signed last week.
For more on how their situations were affected by Jackson's deal, click here.
Loser: Lamar Jackson (the agent)
Obviously Jackson is a winner because the man got paid and now has the security he's been searching for, but would things have been different if he had an agent? Did he cave? Well, according to past reports. Yes, he caved. And it would be unfair to ignore that.
When Jackson received the non-exclusive franchise tag earlier this offseason, there were ZERO reports of teams approaching him to talk offer sheet. None. Why? Well Jackson reportedly wanted a contract that included guarantees that would surpass Watson's ($230M). ESPN reported two months ago that all of Jackson's counteroffers to Baltimore last year were for fully-guaranteed contracts that exceeded that of Watson's. He wanted more than $230 million guaranteed. He got $185 million.
That $185 million in guarantees includes injury guarantees.
— Tom Pelissero (@TomPelissero) April 27, 2023
Baltimore's offer to Jackson in September was worth $50M per year with $175M in guarantees. Seven months and $10M later, it's a done deal, with a traditional structure.
Winner: Lamar Jackson (the player)
Jackson is much more of a winner than a loser. He holds a 45-16 regular-season record as the Ravens' starting quarterback, and now, the title of highest-paid player in NFL history (AAV). That's a W.
Winner: NFL Owners
We saved the best for last. Was the quarterback market reset with this deal? Yes, in a way. But it wasn't reset the way it could have been. As we previously mentioned, Jackson reportedly put an emphasis on the guarantees he wanted included in his deal. Watson's $230 million fully-guaranteed deal clearly hurt negotiations. The next quarterback with the most fully-guaranteed money was Russell Wilson of the Denver Broncos ($124M).
NFL owners around the league were surely hoping that Jackson would not receive what he was asking for -- whether it came from the Ravens or someone else. Jackson following in Watson's footsteps could have reshaped how quarterback contracts are handled moving forward.
NFL owners can now continue to hope Watson's deal is some ridiculous outlier ahead of it's time. And they are also probably hoping Watson's play in Cleveland is subpar, as to not expedite the potential rise of the "fully-guaranteed contract."
