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Lamar Jackson became the latest quarterback to throw for 100 touchdowns and rush for more than 4,000 yards in the NFL. Despite that, he is yet to reach an agreement with the Baltimore Ravens for a new contract. He is still on his rookie deal and that has limited his earnings. Next year, he should be due a significant upgrade as he signs a new deal either with the Ravens or someone else.
Jackson currently has a net worth of $5 million, much less than most of the leading quarterbacks in the league. Earlier this season, the Ravens and Lamar Jackson looked close to a new deal but that fell through at the last minute.
He signed a rookie contract worth $9.7 million for four years when he was selected in the 2018 draft. That ran until last season, and the Baltimore Ravens picked up his fifth-year option. He should earn $23 million this season, which should significantly boost his net worth.
Lamar Jackson is earning far below the NFL average for a franchise quarterback
Lamar Jackson's current deal is nowhere near close to the market rate. By exercising his fifth-year option, the Baltimore Ravens are paying less than half the market rate of premier quarterbacks now, which is between $40-50 million. Aaron Rodgers, who has played significantly worse this season than Lamar Jackson, is slated to earn $40.8 million guaranteed this season. Rodgers' total contract value is upwards of $150 million over three years.
The flipside for the Ravens is that he will be an unrestricted free agent following the 2022 season. Right now, he is the central player for the team, with the coaches relying on him for both passing and rushing. Losing him could be a serious blow to their future plans. While fans will expect him to stay with the franchise that drafted him, he may not take kindly to their failure to reward him this year. By keeping him on such a low salary, the Ravens have created problems for themselves.
Right now, there is no shortage of teams that need a new quarterback. Lamar Jackson could find a new franchise with ease in the offseason. However, the Ravens are likely to franchise tag him if they cannot negotiate an extension. Whether he stays with the Ravens remains to be seen, but his net worth will increase significantly in the upcoming seasons.
