The Ravens are planning to re-enter contract negotiations with quarterback Lamar Jackson again this offseason.
Jackson signed a five-year, reported $260 million contract before the 2023 season, which put him under contract through 2027.
However, if the Ravens and Jackson do not reach another extension, his contract's escalation will make it tougher to build around him.
According to OvertheCap.com, Jackson's salary cap hit jumps from $43.5 million last year to $74.5 million in 2026 and 2027. Jackson's salary would take 24% of the Ravens' projected salary-cap space.
General Manager Eric DeCosta said Tuesday that an extension with Jackson would "certainly give us more flexibility" with roster building.
"We do have a nice little nest egg; it's not as much as we'd like," DeCosta said. "A deal with Lamar would give us the ability to be more active to re-sign, probably more players on the team, and potentially go after a couple big-ticket items."
In August, DeCosta said contract negotiations with Jackson were “ongoing.”
Ravens Owner Steve Bisciotti said Tuesday that he wants Jackson to remain the team's quarterback.
"We want another window, and Lamar knows that," Bisciotti said. "I think he is amenable to doing something that mirrors the last deal that he did, although the annual number will be a little higher. But I'm hoping that it's plug in your number in the same contract he signed [in 2023] and move on.
"The urgency of that matters to me because we've got free agents, and I don't want to go into free agency with that hanging over our head. I made that clear to Lamar, and I think he was very appreciative of my stance, and hopefully, willing to work with Eric and not get this thing dragged out into April like it was the last time."
Bisciotti said if Jackson doesn't want to sign an extension, the Ravens can move the $74.5 million he's owed next season into void years to have Jackson return at the same $43.5 million cap hit he played on this season.
"You can play with that money all you want. That's not what we want," Bisciotti said.
Jackson was asked in late December if he wanted to remain in Baltimore long-term.
"Absolutely, man. Absolutely. Absolutely. Absolutely. I don't even know where that comes from," Jackson said. "We have to focus on winning right now. So, contract talk can be after the season or whatever, but during the season, I'm locked in."
Jackson isn't the only top quarterback whose contract will sharply jump next offseason. Deshaun Watson leads all players with an $80.7 million salary-cap hit for the Browns, and the Chiefs' Patrick Mahomes is second with a jump from $28 million to $78.2 million. Jackson is slated to have the third-highest cap number, and the Cowboys' Dak Prescott is just behind at $74 million.
