Lamar Jackson contract extension: How much will former NFL MVP earn in 2023 with massive contract extension?

Lamar Jackson and the Baltimore Ravens have finally agreed to a deal. After months of back and forth, including a public trade request, the two sides came to an agreement on how to move forward. Jackson has been rewarded handsomely for his patience and will get to stay in Baltimore with a massive extension.

Jackson's new deal is for five years and worth $260 million. That slightly edges out Jalen Hurts' recent extension, which is for five years and $255 million. The former MVP is now the highest-paid NFL player in history and will earn $52 million per year. Hurts' reign at the top didn't last long.

Jackson will receive $185 million in guaranteed money through this new deal. After much speculation, the quarterback is no longer on the market. Heading into the NFL Draft, there was a big question mark surrounding his future and what teams might be interested in him. With trades likely to come in a flurry tonight, Jackson's name very well could have been called.

Fortunately for him and the Ravens, the deal got done before any draft night drama and he'll be in Baltimore for the next half decade at least.

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Why the Ravens needed Lamar Jackson and why he needed them

This is the best-case scenario. The Ravens need Jackson and he needs them. Their offense is uniquely catered to his skillset, so he fits in better than he would anywhere else.

Lamar Jackson is under contract

Conversely, without Jackson, the Ravens don't have a functioning offense as he has been their main weapon for the last four seasons.