Steve Bisciotti, the owner of the team, said that he would like to extend Jackson’s contract before March’s free agency period begins. This is because Jackson’s salary cap will increase from $43.5 to $74.5 millions.

Bisciotti stated, “I believe that he is willing to do something similar to the last contract he made, even though the annual amount will be higher. I hope that it will be to plug in a new number to the same contract that he signed last season and move forward.” “It’s urgent because I’m going into free agency and don’t want that hanging over my head.”

Jackson signed a reported five-year contract worth $260 million ($52 million annually) before the season of 2023, putting him on contract until 2027.

Mike Florio of Pro Football Talk has projected how a new contract for Jackson might look.

Florio wrote: “Since that time, the market (as far as new money is concerned) has shifted to $60 million annually (if we ignore new-money analysis in regards to Josh Allen’s most recent deal).” “The goal is to push Jackson past Dak Prescott’s current high water mark. Jackson’s current contract has two years left and $104 millions remaining. For the Ravens to reach a new average salary of $61 million they would need to offer a 3-year extension worth $183 million.

“But in the NFL, there are no ‘extensions.’ The old contract is ripped up and replaced by a new one. The Ravens can offer $54 million for five years. This would increase the average new money to $61million, even though the real average would be $57.3 million.

Florio says that the key to success is finding the right structure.

Florio wrote that “Last year, Jackson received a $72.5 million signing bonus.” If he gets $80 million upfront on a new contract, his cap (coupled with minimum salary of $1.3million) would be $17.3million plus the $22.5million in allocation for 2026 from his previous contract. This would be $39.8 millions, creating cap space in 2026 of $34.7million. Then they’d have to determine how much of the contract was guaranteed. He wanted to have all five years fully guaranteed in 2023. He finally agreed to a three-year deal that included full guarantees.