Ravens quarterback Lamar Jackson, who is under club control through the 2027 season, recently expressed his desire to remain in Baltimore for the long haul. But this offseason has produced no public news of tangible progress on that front, and that reality, combined with a prior report that Jackson will not be with the Ravens beyond 2026 if he and the team do not agree to an extension before Week 1, have led to increased speculation about the two-time MVP’s future.
Jeff Zrebiec of The Athletic (subscription required) points out that the strained nature of the parties’ previous extension talks and the fact that Jackson and the Ravens did not appear to be “on the same page” for portions of the 2025 season have also driven the speculation. However, he believes a lack of news should not be interpreted as an omen of an imminent separation. After all, Jackson’s circle does not leak anything to the media, and the club likewise remains tight-lipped about matters involving the face of the franchise out of respect for him. As such, Zrebiec considers it impossible to handicap the status of the negotiations, though he says owner Steve Bisciotti has made it very clear to Jackson the Ravens want to extend him.
Zrebiec goes on to say there appears to be a “general understanding” between player and team as to the timing of the discussions and that the Ravens will be ready to fully engage if and when Jackson is ready. However, it would not be surprising if a new deal is pushed back to 2027.
Ian Rapoport of the NFL Network (video link) suggested as much at the end of May, and he reiterated his report shortly thereafter (notwithstanding the graphic on the video clip which stated an extension is expected to be finalized this year). As Rapoport observes, it is unusual for a team to restructure a player’s contract and then extend that player in the same offseason, and the Ravens finalized a maximum restructure on Jackson’s current deal in March in order to give themselves the cap space to transact offseason business. Rapoport also suggests Jackson simply may not be particularly anxious for a new contract at this point since he is due to earn over $50MM in ’26.
Plus, Jackson’s 2025 performance was marred by injury and a subpar level of play (by his standards). Therefore, while he has tremendous leverage by virtue of the restructure and the $84.34MM cap number it created for 2027, he may want to come to the negotiating table on the heels of a better season.
Rapoport does not suggest the 2026 campaign will be Jackson’s last in Baltimore. He simply believes – as does our Adam La Rose – that an extension is more likely to be finalized in 2027. Despite next year’s ominous cap charge, Baltimore could release or trade Jackson even in a pre-June 1 maneuver and create a modicum of cap savings (roughly $9.5MM, albeit with a corresponding dead money hit of $74.81MM). A post-June 1 transaction would allow the Ravens to spread out the dead money and realize 2027 cap savings of $52MM.
Speculatively, it is difficult to imagine the Ravens going that route unless Jackson completely underperforms in 2026 or the relationship between him and the team truly sours. At present, a new commitment sometime next offseason would seem to be a fair expectation.
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