Lamar Jackson contract details: Ravens QB will get a big raise with extension, but when?

Lamar Jackson won't officially be a freelance up until 2023, but he is in line for a big-time payday quickly.

There's no question that the Ravens will certainly want maintain Jackson under group control, preventing something unexpected. Jackson is just one of the NFL's a lot of vibrant quarterbacks, besides, so Baltimore will certainly attempt to sign him to an expansion quickly. The team will certainly likely utilize the franchise tag on him if they can not consent to one by the beginning of 2023 totally free agency. Baltimore would most likely such as to

get a bargain done prior to that, however. The franchise business tag game can get a little bit tricky, so the group

will probably attempt to lock in Jackson prior to that to safeguard their future. However signing Jackson might not be easy. The 24-year-old quarterback will certainly be representing himself in negotiations instead of an agent, so if the Ravens stop at Jackson's rate, that may press an extension contract additionally into the future. EVEN MORE: Highest-paid players in the NFL in 2021 Lamar Jackson agreement details Jackson is still on his newbie bargain. He was the 32nd pick in the 2018 NFL Draft, as well as he signed a four-year contract

worth concerning$9.5 million, per Spotrac. When the

Ravens grabbed his fifth-year alternative, that added an extra year worth$23

million to

the deal. All cash on

Jackson's

fifth-year option will be ensured

, and

a lot of his rookie contract

was guaranteed too. So in the

end, these are

his novice agreement information. Lamar Jackson's novice agreement Year Complete

made 2018$ 1.7 million 2019$2.2 million 2020$ 2.6 million 2021

$3 million 2022 $23 million MORE: Highest-paid QBs in the NFL in 2021 When will Lamar Jackson sign his extension? There is no hard timeline for the Ravens as well as Jackson to set an extension. He can ink one at any type of point in between today and when his contract runs out in 2023. And also if the Ravens put him with the franchise tag, that will certainly provide until July 15, 2023 to set a long-term expansion prior to the 2023 season.

It would certainly behoove the Ravens to obtain a bargain performed with Jackson asap, provided the ever-rising nature of the quarterback market. Nonetheless, Jackson is presently concentrated on the period, as ESPN's Adam Schefter records, so obtaining one done in-season can show tough, as Jackson does not have an agent.

That said, Schefter did have an interesting bit in his tale about Jackson's contract expansion.

An offer between Jackson and also the Ravens might be completed throughout the period, yet that likely will be when the previous MVP has the moment to focus on the settlements, according to sources.

So, when would certainly Jackson have time to focus on the settlements? It would possibly be throughout the team's bye week, which happens in Week 8. That would certainly mean late October is the time to watch for a possible Jackson extension.

The other time to work out an offer in-season would certainly come after the Ravens' Week 10 "Thursday Night Football" matchup versus the Dolphins. The Ravens would certainly have the so-called "mini-bye", throughout which Jackson can complete terms on his extension. That would be in mid-November.

That claimed, if Jackson picks entirely to concentrate on the season, an extension won't be signed until the offseason. Simply put, there are lots of different times at which this offer can occur.

How much will Lamar Jackson's new contract be worth?

Jackson will certainly likely be compensated at the price of a top-five NFL quarterback.

Below is a consider the top passers in terms of ordinary yearly worth.

Ranking	Player	Typical yearly value
1	Patrick Mahomes	$45 million
2	Josh Allen	$43 million
3	Dak Prescott	$40 million
4	Deshaun Watson	$39 milllion
5	Russell Wilson	$35 million
T-6	Aaron Rodgers	$33.5 million
T-6	Jared Goff	$33.5 million
8	Kirk Cousins	$33 million
9	Carson Wentz	$32 million
10	Matt Ryan	$30 million

Jackson will possibly port into the $40 million per year variety. It's just an issue of whether he'll rate over or listed below Josh Allen in terms of yearly compensation.

Jackson's agreement figures to be similar to Allen's in any case. The duo of star AFC quarterbacks were both prepared in the 2018 NFL Draft, which included 5 first-round quarterbacks, and also have actually racked up comparable achievements up until now throughout their occupations.

Player	Conclusion %	Passing yards	Hurrying lawns	Complete TDs	MVPs	Playoff document
Lamar Jackson	64	7,320	2,992	88	1	1-3
Josh Allen	61.7	9,977	1,606	93	0	2-2

Allen was the very first quarterback in his draft class to accept an extension. His deserves $258 million over 6 years, and also it made him the second-highest-paid quarterback in the NFL at $43 million a year.

Typical annual worth isn't all that matters when bargaining contracts, nonetheless. Allen damaged the NFL document for total guaranteed money in his contract. His mark of $150 million is $8.5 million ahead of Patrick Mahomes' bargain, which consists of $141.5 million in guarantees. And Mahomes has, without a doubt, the organization's most rewarding contract worth a total of $450 million over 10 years.

So, the structure of Jackson's offer will be something to watch, yet Allen's deal figures to be the plan that Baltimore will certainly follow.