Debates surrounding Baltimore Ravens star Lamar Jackson’s losing the NFL MVP title to Buffalo Bills’ Josh Allen are still alive. So, it surprised no one that his head coach, John Harbaugh, said extension talks with Jackson have started, and when it’s all said and done, he will be the highest-paid player in the NFL.
Ravens HC John Harbaugh Talks Historic Lamar Jackson Extension
Just a few days after he reached a three-year deal with Baltimore, the 2019 Coach of the Year had this to say about his MVP QB:
“There’s been conversations about that internally. How far along that is, I don’t know. That’s going to continue to have to be addressed, really, with all those guys. You just have to kind of manage the salary cap dance, and Lamar is the main part of that because he’s the franchise player … sooner or later, it’s definitely going to have to happen.
“The value is about 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 when asked about the challenge of putting a value on a guy like Jackson. “I think every contract he signs, probably until he decides to hang up his cleats, he’s going to be that guy.”
Harbaugh on contract extension for Lamar Jackson: “sooner or later, it’s going to have to happen. When Lamar gets paid, he’s going to be highest paid player in football.”
— Jeff Zrebiec (@jeffzrebiec) March 31, 2025
Jackson is fresh off another standout 2024 campaign, which saw him throw for 4,172 yards and 41 touchdowns and rush for 915 yards and another four scores. For these reasons, the two-time NFL MVP topped PFSN’s QB+ metrics.
Jackson’s New Contract Should Exceed Buffalo Bills QB Josh Allen
Jackson just finished the second year of a five-year, $260 million contract signed with the Baltimore Ravens on May 4, 2023. Baltimore’s 2026 cap hit with Jackson’s contract jumps to $70 million, so they know they need to hammer out a deal quickly.
On March 9, 2025, the Buffalo Bills and Allen — who still had four years left on his deal — agreed on a new record-setting six-year, $330 million contract that includes $250 million guaranteed, the most significant guarantee ever given to an NFL player.
After Allen’s new contract, Jackson is the 9th highest-paid quarterback in the NFL, but it sounds like that will change once negotiations are finalized.
Super Bowl Missing From Jackson’s Elite Résumé
The one honor eluding Jackson is a Lombardi Trophy, the pinnacle of a career for any NFL player lucky to have reached it.
Returning to the Super Bowl has been a hurdle for Jackson’s Ravens, who reached the AFC title game in 2023 before falling to the eventual repeat champion Kansas City Chiefs. Baltimore lost to Buffalo in the 2024 Divisional Round.
Three weeks later, Buffalo indirectly stuck another dagger in Baltimore when Allen — not Jackson — was named the NFL MVP for the 2024 season. With 27 first-place votes to Jackson’s 23, Allen claimed his first career MVP award, solidifying his place among the league’s elite.