The two-time MVP is currently playing under a five-year, $260 million deal. Jackson's current deal runs through 2027, but if the Ravens sign him to an extension, they can reallocate some of the money to avoid too massive a cap hit.

The Baltimore Ravens "would love" to sign Lamar Jackson to a new contract before the start of the 2025 season, according to The Athletic's Jeff Zrebiec. Jackson is currently set to play under a $43.5 million cap hit in 2025 before his annual cost increases to $74.5 million over the final two years of his current deal, according to Over the Cap.

At the NFL Owners meeting in March, head coach John Harbaugh revealed that the Ravens have discussed a new extension for Jackson