Ravens “ran out of time” to extend Lamar Jackson’s contract before Wednesday’s restructure

Ravens General Manager Eric DeCosta’s Wednesday press conference focused on the team’s decision to back out of a trade with the Raiders for Maxx Crosby and subsequent move to sign Trey Hendrickson, but it wasn’t the only topic.

The Ravens also restructured quarterback Lamar Jackson’s contract ahead of the start of the 2026 league year in order to lower his $74.5 million cap number for the coming season. That wasn’t the preferred way to lower the number — owner Steve Bisciotti said in January that his goal was to have Jackson signed to an extension by now — and DeCosta was asked about where things stand with Jackson.

DeCosta said the Ravens “kind of ran out of time” in regard to needing the number down before the league year began, but that they remain hopeful that they can get an extension done in the future. DeCosta said he thinks it is “important to both parties” to reach the finish line in talks about a new deal.

The 2027 season is the final one on Jackson’s current deal and the Ravens would be facing another gargantuan cap number, so those talks will likely pick up again in the near future.