The contract is worth $39.3 millions with $26,000,000 guaranteed. Andrews’ $13.1m APY, however, is $900k less per year than the first extension he signed back in 2021. Since then, four players have surpassed him with $16.5 million or more per year, according to OverTheCap. Trey McBride & George Kittle have raised the market this off-season to $19million. Andrews has dropped one position to become the sixth highest paid tight end of the league.
The Ravens confirmed the news of an extension and released a statement by general manager Eric DeCosta.
DeCosta said, “We are proud and excited to announce that Mark Andrews has signed a contract extension for three years.” Mark is a Raven for life – a Pro Bowl tight-end and top competitor who is also an important part of the Baltimore community. Mark and his entire family deserve congratulations! Andrews, in his eighth NFL campaign, is the Ravens’ all-time receiving leader, ranking first. Andrews is the Ravens’ all-time leader in every major receiving category, ranking No. It is only the second time in NFL history (Travis Kelce, Kansas City) that a tight end has held a receiving ‘Triple Crown’ for a particular franchise.
Andrews’ contract extension comes as a bit of a shock after his relatively quiet season. Andrews is averaging 27.7 yards a game and just 6.4 yards if he is targeted, both career lows. This is partly, if it is not the primary reason, due to the Ravens’ slow passing game. He still ranks second in the Ravens in terms of receptions, receiving yardage, and total touchdowns (5 through the air, plus his game-winning “Hurricane” in Week 11).
According to the reported value, the Ravens are making a good decision. Andrews will take a salary cut of almost one million dollars, but the number becomes even higher when you factor in inflation. His previous APY was $14 million, which is 7.7% of 2021’s salary cap. His last contract, if adjusted to the cap of 2024, would be worth $21.4million per year. His new contract is worth only 4.7% of the salary cap for this year, which is similar to Pat Freiermuth or Daryl Schultz.
More information will be added to this story as it develops.