It was signed and sealed on Thursday. The details have now been delivered.
Here are the full details of the new five-year contract signed by Ravens quarterback Lamar Jackson, per a source with knowledge of the terms.
1. Signing bonus: $72.5 million.
2. 2023 base salary: $7.5 million, fully guaranteed.
3. 2024 option bonus: $17.5 million, fully guaranteed.
4. 2024 offseason roster bonus: $750,000, fully guaranteed.
5. 2024 base salary: $14.25 million, fully guaranteed.
6. 2025 option bonus: $22.5 million, fully guaranteed at signing.
7. 2025 offseason roster bonus: $750,000, guaranteed for injury at signing and fully guaranteed in March 2024.
8. 2025 base salary: $20.25 million, guaranteed for injury at signing and fully guaranteed in March 2024.
9. 2026 offseason roster bonus: $750,000.
10. 2026 base salary: $51.25 million, $29 million of which is guaranteed for injury at signing and fully guaranteed in March 2025.
11. 2027 offseason roster bonus: $750,000.
12. 2027 base salary: $51.25 million.
The deal also includes a no-trade clause, and a no-tag clause. After 2027, he becomes an unrestricted free agent.
The contract contains $135 million fully guaranteed at signing. After one season, the full guarantee moves to $156 million. After two years, it becomes $185 million.
It’s a three-year, $156 million deal, with a lingering guarantee of $29 million for the fourth year. The $29 million would be subject to offset.
The cash flow is $80 million in year one, $112.5 million through year two, $156 million through year three, $208 million through year four, and $260 million through year five.
As G.M. Eric DeCosta explained on Wednesday’s #PFTPM, it’s basically the 2022 offer made by the team, with enhancements. And the enhancements get him the highest three-year cash flow of any player in league history — $93 million more than Patrick Mahomes received.