How much will Ravens QB make in 2024?

Week 10 of the 2024 NFL season begins on “Thursday Night Football” with a game between host Baltimore Ravens (6-3) and Cincinnati Bengals (4-5).

The AFC North duel features two of the best quarterbacks in the conference this season. Cincinnati’s Joe Burrow ranks third in the league in quarterback rating at 108.1, rebounding from his injury-plagued 2023 season.

Baltimore’s Lamar Jackson, in the running for NFL MVP honors for the third time in his career this season, leads the NFL with a quarterback rating of 120.7. After winning MVP honors last season, he leads one of the most productive and efficient offenses this season.

The 27-year-old will experience his heyday as a passer in the next few years. Here’s what you should know about his contract with the Ravens.

Lamar Jackson contract details

After months of negotiations with the team, Jackson signed a five-year, $260 million contract extension ahead of the 2023 season. Here are the basics of the deal, according to Spotrac:

Expression: 5 years
Total value: $260 million
Average Annual Value (AAV): $52 million
Guaranteed money: $185 million

Jackson’s contract ranks fifth among NFL quarterbacks in total value, eighth in AAV and sixth in guaranteed money. His contract also includes:

Complete no-trade clause
No-franchise tag clause after 2027 season

This was Jackson’s first extension after his rookie contract, which ran from 2018 to 2022. This contract increases his career earnings to $291.73 million.

How much is Lamar Jackson salary in 2024?

Jackson’s cap hit of $32.4 million in 2024 is split between base salary ($14.25 million), signing bonus ($14.65 million) and an option bonus ($3.5 million). ). These numbers will change slightly as the deal progresses.

Here is his base salary for each year of his current contract:

2024: $14.25 million
2025: $20.25 million
2026: $51.25 million
2027: $51.25 million

And his total cap hit for each year of his contract:

2024: $32.4 million
2025: $43.65 million
2026: $74.65 million
2027: $74.65 million

There are two invalid years attached to the end of his contract. In 2028, Jackson will have a cap hit of $12.5 million; He will hit a cap hit of $4.5 million in 2029. He could sign another extension before those invalid years and that would change the numbers.

Lamar Jackson Stats

In nine games this season, Jackson has completed 174 of 255 passes (68.2%) for 2,379 yards, 20 touchdowns and two interceptions. On the ground, Jackson has 84 carries for 505 yards and two rushing touchdowns.

The Highest Paid NFL QBs

AAV

Jackson is one of nine NFL quarterbacks earning at least $50 million in AAV as part of his contract. Dak Prescott ($60 million) is currently the highest-paid quarterback in the NFL based on AAV.

Dak Prescott, Dallas Cowboys: $60 million
Joe Burrow, Cincinnati Bengals: $55 million
Trevor Lawrence, Jacksonville Jaguars: $55 million
Jordan Love, Green Bay Packers: $55 million
Tua Tagovailoa, Miami Dolphins: $53.1 million
Jared Goff, Detroit Lions: $53 million
Justin Herbert, Los Angeles Chargers: $52.5 million
Lamar Jackson, Baltimore Ravens: $52 million
Jalen Hurts, Philadelphia Eagles: $51 million
Kyler Murray, Arizona Cardinals: $46.1 million

Guaranteed money

Jackson ranks higher in guaranteed money on his contract, with Dak Prescott at the top under a deal he signed ahead of the 2024 NFL season.

Dak Prescott, Dallas Cowboys: $231 million
Deshaun Watson, Cleveland Browns: $230 million
Joe Burrow, Cincinnati Bengals: $219.01 million
Justin Herbert, Los Angeles Chargers: $218.74 million
Trevor Lawrence, Jacksonville Jaguars: $200 million
Lamar Jackson, Baltimore Ravens: $185 million
Jalen Hurts, Philadelphia Eagles: $179.4 million
Jared Goff, Detroit Lions: $170.61 million
Tua Tagovailoa, Miami Dolphins: $167.17 million
Jordan Love, Green Bay Packers: $160.3 million

Total contract value

Patrick Mahomes leads the NFL in total contract value as the total value of his 10-year deal with the Chiefs is $450 million. Jackson’s contract just barely cracks the top five largest deals overall, as his five-year deal pays him $260 million.

Patrick Mahomes, Kansas City Chiefs: $450 million
Joe Burrow, Cincinnati Bengals: $275 million
Trevor Lawrence, Jacksonville Jaguars: $275 million
Justin Herbert, Los Angeles Chargers: $262.5 million
Lamar Jackson, Baltimore Ravens: $260 million
Josh Allen, Buffalo Bills: $258.04 million
Jalen Hurts, Philadelphia Eagles: $255 million
Dak Prescott, Dallas Cowboys: $240 million
Kyler Murray, Arizona Cardinals: $230.5 million
Deshaun Watson, Cleveland Browns: $230 million