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.

Ravens head coach John Harbaugh said during the NFL owners meetings in March that there had "internally" been conversations about extending Jackson.

TOP NEWS

Ranking the 6 Worst Decisions of the 2025 NFL Offseason

George Pickens Reportedly Was Removed from Multiple NFL Teams' Draft Boards in 2022

6 WRs Who Could be on Trade Block After 2025 NFL Draft, Pickens Deal

"That's going to continue to have to be addressed, really with all those guys. You have to manage that dance, the salary-cap dance," Harbaugh said in March, per BaltimoreRavens.com's Ryan Mink . "Lamar is the main part of that because he's the franchise player. That's a possibility, I think. Sooner or later, definitely it's going to have to happen."

When asked to estimate how much Jackson's next contract might be worth, Harbaugh answered, "The value is the top."

"When Lamar gets paid, he's going to be the highest-paid player in football, just like he was last time," Harbaugh said. "I think every contract he signs till he decides to hang up his cleats, he's going to be that guy."

ESPN's Adam Schefter then told the Baltimore Sun 's Brian Wacker in April that he expected the Ravens to work out an answer to Jackson's contract situation "at some point before the start of next season."

“If you can get his contract redone, make him happier and it’s not putting the organization at financial risk, which it wouldn’t, then you get that done, and that’s what I expect that they’ll do," Schefter said.

The Ravens and Jackson, who was not represented by an agent, negotiated his previous contract for almost two years in what Zrebiec described as a "major strain" on general manager Eric DeCosta.

Those negotiations reached the point where Jackson posted on social media that he was requesting a trade from the Ravens about a month before signing his current deal in April 2023.

Those talks were complicated by the five-year, $230 million, fully-guaranteed deal Deshaun Watson signed a year prior with the Cleveland Browns, a huge jump over how much guaranteed money had been handed out at the time.

This time, Dak Prescott set the top of the quarterback market at $60 million per season by signing a four-year deal with the Dallas Cowboys last September.

Buffalo Bills star Josh Allen, meanwhile, set the new standard for total guaranteed money with the $250 million guaranteed on the reworked contract he inked in March.

DeCosta will hope having a more established relationship with Jackson, as well as a more settled quarterback market compared to immediately after Watson's signing, will lead to a smoother next round of negotiations with his star quarterback.