The writing seemed to be on the wall when the Baltimore Ravens signed Odell Beckham Jr. earlier this month, but it has now become official: the team has signed quarterback Lamar Jackson to a mega-deal that will keep him around for the next five years.
Lamar Jackson Signs Mega-Deal With Baltimore Ravens
The saga between the two sides was an ugly one at times, and even felt unrepairable during the current off-season. The quarterback was seeking the contract that he felt he deserved as a former league MVP, and the team was apparently not willing to meet his demands. Things became so rocky that Jackson even requested a trade for the team back in early March.
We’ve agreed in principle on a 5-year contract extension with QB @Lj_era8‼️
— Baltimore Ravens (@Ravens) April 27, 2023
But things seemed to be headed down a path of amendment when the Ravens signed Jackson’s good friend Beckham Jr. to play wide receiver. The two were seen celebrating together in the following days, something that probably wouldn’t have happened if Jackson had been intent on leaving at some point.
But on Thursday afternoon, it was revealed that the two sides had finally come to an agreement, and that Lamar Jackson would be signing a 5-year extension with the team. It was announced by the team via social media, and Jackson himself.
League source just added that the total “guaranteed” portion on Lamar Jackson’s deal is $185M. https://t.co/L8FHaAxEIU
— JosinaAnderson (@JosinaAnderson) April 27, 2023
In the short-term, the deal will actually save money for the Ravens by taking Jackson off of the franchise tag designation. It will also adversely affect their Super Bowl odds.
Super Bowl Lines Shift After Jackson’s Signing
When the day began, the Ravens were listed at +2200 to win the Super Bowl, which was on par with the Detroit Lions and just ahead of the Jacksonville Jaguars and Los Angeles Chargers.
But the confirmation that Jackson will be under center for the team this year was enough to shift those odds. Baltimore’s shot at winning a Super Bowl is now down to +1800, bringing them closer to the likes of the Miami Dolphins and Dallas Cowboys.
As for their other future proposition bets, the Ravens are now +900 to win the AFC (6th best), and second to the Bengals for favorites to win the AFC North (+280).
According to Josina Anderson of ESPN, Jackson’s deal with be worth a reported $260 million, which comes out to roughly $52 million per year on average. Depending on which metric you use to measure, it would make him the highest paid player annually in the NFL.
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