Lamar Jackson spent much of the last year feuding with the Baltimore Ravens over the details of his second contract. As a result, the NFL betting odds market for the Ravens sank.
Finally, just hours before the 2023 NFL Draft, the Ravens and Jackson agreed on a massive contract extension.
Now that the contract details are public, millions of NFL fans want to know the terms. Here’s what you need to know about Lamar Jackson’s big new contract.
Lamar Jackson New Deal
The deal makes him the highest-paid player in the NFL history … that is, until the next quarterback gets paid, anyway.
Lamar Jackson Contract Details
Lamar Jackson’s new deal stretches $260 million out over five years. It includes an array of bonuses, a full no-trade clause, and a prohibition on being franchise tagged again after the current contract ends in 2027.
Lamar Jackson Guaranteed Money
Lamar Jackson’s new contract includes a total of $185 million in guaranteed money.
About $135 million was fully guaranteed on the day he signed the contract, with the other $50 million guaranteed in the future if he is retained on the roster at the start of a new season.
For instance, about $20 million of his 2025 salary becomes guaranteed at the beginning of the 2024 league season.
Lamar Jackson Signing Bonus
Lamar Jackson’s new contract set an all-time record by delivering $72.5 million in signing bonus money.
The previous high was $66 million, which was paid to Dak Prescott in 2021.
Lamar Jackson Contract Breakdown
Lamar Jackson will make an average salary of $52 million per year on this contract. Here’s the year-by-year breakdown:
- 2023: $80 million yearly cash
- 2024: $32.5 million yearly cash
- 2025: $43.5 million yearly cash
- 2026: $52 million yearly cash
- 2027: $52 million yearly cash
It’s important to note that NFL contracts are barely worth the paper they’re printed on, and details get reshuffled all the time. That’s especially true for contracts that are several years into their deal.
This is how the money breaks down now, but everything could change in two years.
Lamar Jackson Cap Hit
Unsurprisingly, the Ravens’ cap hit for a deal of this size is massive. Baltimore only takes a $22 million hit for the 2023 season, which means the Ravens could be in a Super Bowl window this year.
However, by 2026, that cap hit balloons to $74.5 million. Unless the deal is renegotiated between now and then – which would be a perfectly normal thing to happen, given the size of the contract – that would be a massive financial roadblock for the Ravens’ on-the-field competitiveness.
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