Rapoport suggests that extending Jackson well before his contract’s scheduled end following the 2027 season was all part of the plan. The Ravens inserted “really high” salary cap numbers partway through the deal, in order to facilitate Jackson’s $72.8 million prorated signing bonus. Indeed, his hefty $43.5 million salary cap number in 2025 looks small compared to the consecutive $74.5 million salary cap hits scheduled in each of the next two seasons. Signing Jackson to an extension would help free up salary cap space and allow the Ravens to “potentially do” some other deals, including an extension for TE Isaiah Likely.

Speaking on the BMore Baseball Podcast, DeCosta mentioned that he met with Jackson in person last week. DeCosta, however, didn’t make it sound like a deal was getting done anytime soon. Jackson signed a five-year, $260 million contract with the Ravens in 2023. He is under contract through 2027, so DeCosta doesn’t have to rush the extension. With the price of elite quarterback play skyrocketing, the two-time MVP is rightfully eying a raise. That may not come this offseason, but the Ravens aren’t going to let Jackson hit free agency when the time comes. They placed the non-exclusive franchise tag on Jackson last time his contract was set to expire and he publicly requested a trade. Even though an extension was eventually reached, DeCosta flew dangerously close to the sun while trying to get the most affordable deal. He described those negotiations as arduous and it’s hard to imagine him not getting ahead of the situation this time around.

Harbaugh is fresh off signing a three-year extension of his own. Now, the long-time coach is on record saying a new deal could be in the works for Jackson “sooner or later.” Jackson signed a five-year, $260 million contract extension in 2023 and is under contract through the 2027 season. That said, with a league salary cap that is likely to see a continued increase in the coming seasons, the Ravens would be wise to give Jackson a new deal before his current one nears expiration. Jackson, 28, is a two-time MVP who nearly won a third MVP after a 2024 season in which he threw for 4,172-41-4 while adding another 915 yards and four touchdowns on the ground. His 2026 cap number balloons to $74.650 million, but that number can likely be reduced with a new deal, creating added incentive for the Ravens to get something done.

Jackson finished as the overall QB1 in fantasy scoring (434.4 points) by completing 316-of-474 passes for 4,172 yards, 41 touchdowns and two interceptions. His 8.8 yards per passing attempt leads all NFL quarterbacks with at least 100 dropbacks. Jackson unsurprisingly thrived on the ground as well, rushing 139 times for a position-high 915 yards and four touchdowns. He likewise leads NFL quarterbacks in both missed tackles forced (45) and explosive run plays (37). Jackson’s 2025 outlook could be mildly impacted if offensive coordinator Todd Monken accepts a head coaching role elsewhere but the 28-year-old quarterback will not fall out of the elite QB1 tier. He remains a game-breaking player in both the NFL and fantasy football.