Ravens, Lamar Jackson Agree To Five-Year Contract Extension

UPDATE 4:30 p.m. ET: The Baltimore Ravens and Lamar Jackson agreed to a five-year contract extension. It is a five-year, $260 million deal that has $185 million in total guarantees, according to CBS Sports’ Josina Anderson. They added talks between the sides increased after the Odell Beckham Jr. signing and after Jalen Hurts signed a five-year $255 million extension with the Philadelphia Eagles.

ORIGINAL STORY: The Ravens-Lamar Jackson saga might finally reach its conclusion.

The 2019 NFL MVP has been in a standoff with Baltimore over his contract extension. The sides failed to reach an agreement before the 2022 season, and the Ravens placed the non-exclusive franchise tag on the quarterback this offseason. That means a team must trade two first-round picks if it agrees to a deal with Jackson. The All-Pro QB also requested a trade in early March, but it was not clear if Baltimore would fulfill that request.

However, multiple teams, including the New England Patriots, reportedly took themselves out of the running for the 26-year-old because he reportedly wants a deal similar to that of Cleveland Browns quarterback Deshaun Watson, who signed a five-year, $230 million fully-guaranteed contract last season, and Jalen Hurts, who signed a five-year, $255 million deal this offseason.

There appeared to be no end in sight with general manager Eric DeCosta and head coach John Harbaugh giving very few details on the QB situation in Baltimore. Odell Beckham Jr. signed with Baltimore, but it was not clear if he was given a guarantee on who would be throwing him the football.

Jackson, who does not have representation but is receiving assistance from the NFL Players Association also has not wavered in his demands.

But FOX NFL insider Jay Glazer reported Thursday there was “major progress” between Jackson and the Ravens.

“Source close to Jackson told me if no hiccups could be done VERY soon, any day now,” Glazer tweeted.

NFL Media’s Ian Rapoport added the sides are close to a “mega-deal,” according to his sources. The deal has not been completed, but it appears Jackson might get his wish and receive a huge pay day.

The reports came after ESPN’s Jamison Hensley revealed a text he received from the Ravens that read, “Good news on the way for the Ravens.”