EDITOR’S NOTE: This story covers Lamar Jackson’s rookie contract that ran through the 2022 season. Click here to read Boardroom’s full overview of Jackson’s record-setting contract extension signed in 2023.
The Ravens’ QB turned down a $133 million deal and is betting on a big season in 2022 to translate into a bigger payday in 2023.
Lamar Jackson did not get a significant contract extension before his self-set deadline of Sept. 9. Instead, the former Heisman Trophy winner and NFL MVP elected to bet on himself, declining a six-year, $290 million pact with the Baltimore Ravens.
Guaranteed money was a critical factor in Jackson’s decision. He turned down $133 million, which fell far short of the reported $230 million, fully insured deal that he was seeking, similar to what the Cleveland Browns gave Deshaun Watson.
Jackson may guide himself through his illustrious career without an agent, but he unmistakably has a target salary in mind to stay in Baltimore. Unfortunately for Ravens Nation, the team has to wait until the 2023 season to meet those demands. For now, Jackson is set to make $23.016 million in his fifth-year option with the Ravens.
Simply put, back up the Brinks truck. Jackson is about to reap the fruits of his Ravens tenure at the end of the season, whether or not the money comes from Baltimore. Let’s dive into the details of his rookie contract.
Click here to read Boardroom’s overview of the highest-paid quarterbacks in the NFL.
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Lamar Jackson Rookie Contract Details & Salary
Salary data via Spotrac
- Years: 4
- Total value: $9,471,648
- Guaranteed at signing: $7,575,059
- Free Agency: 2023
As it currently stands, Jackson is the 15th-highest-paid quarterback in the league, as total cash reflects. However, he’s certainly better than the 15th-best QB in the NFL. Jackson already has one MVP trophy under his belt, and as things stand, he’s top three in odds to win the NFL’s most coveted individual award for the second time in his career at +550. That should be proof enough of how well Jackson is playing in his contract year.
We already know what skills the electric QB brings to the table regarding running the ball. Entering Week 5, Jackson ranks ninth in the NFL in rushing yards, passing Derrick Henry, Dalvin Cook, Christian McCaffrey, and Joe Mixon. For good measure, he leads the NFL in the longest single rush category after ripping the Miami Dolphins’ defense for a 79-yard rushing touchdown.
Jackson also continues to make strides in the passing department. Currently, he’s approaching a career-high season in yards per attempt with a completion percentage comparable to his MVP year. The scariest part? Jackson is seemingly nowhere near the ceiling of his potential.
As the Ravens struggle to close out games, Jackson continues to improve. Baltimore’s next offseason should prove interesting as the defense continues to let the team down. Will the franchise look to offer Jackson the contract he desires while simultaneously making an effort to patch defensive holes in the secondary?
If Jackson wants to win in Baltimore, will he have to take less money than he expects to fix the team’s defensive problems? While it’s still early in the season, the Ravens are already set to have one of the most challenging offseasons in the league.
Lamar Jackson’s Career Earnings
FULL BASE SALARY EARNINGS: $27,519,176
TOTAL SIGNING BONUSES: $4,968,471
TOTAL NFL SALARY EARNINGS THRU 2022 SEASON: $32,774,549
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