OWINGS MILLS, Md. -- Baltimore Ravens general manager Eric DeCosta expressed confidence Wednesday that the team can reach a contract extension with quarterback Lamar Jackson before March.
"I'm optimistic," DeCosta said. "I feel good about it."
DeCosta later added, "We would love to get a deal done as soon as possible."
Jackson, 29, has two years left on his current contract and would become an unrestricted free agent after the 2027 season. It would be beneficial for Baltimore to get a new deal with Jackson before the start of free agency because his $84.34 million salary cap number in 2027 is the third highest in the NFL.
DeCosta declined to go into detail about why he's encouraged about reaching an agreement with the two-time NFL Most Valuable Player.
"Lamar and I have a pact -- as you all know, I've said probably 50 times -- we're not going to talk about business publicly," DeCosta said. "And it's a different type of negotiation because it's a different type of negotiation with Lamar."
DeCosta has discussed in the past how these contract talks represent a unique challenge because he has to negotiate directly with Jackson, who doesn't have an agent and represents himself. But it sounds like DeCosta will still engage in contract talks with Jackson throughout the season.
"We've been in this position before," DeCosta said. "I think it's just communication, right? Lamar and I have a great relationship, and we talk. That's what it really amounts to -- communication."
The last time the Ravens and Jackson reached a new deal was in April 2023, when Baltimore made him the highest paid-player in the NFL with a five-year, $260 million contract. But Jackson's $52 million per season average now ranks 11th in the NFL.
The highest-paid player in the NFL is Chiefs quarterback Patrick Mahomes, who is averaging $63 million per season.
"We try to compensate our players, our best players, as well as we can," DeCosta said. "And you can look at that from an average standpoint. You can look at that from a guaranteed money standpoint, a term standpoint, incentives, whatever that is. We try to be fair-plus with our players. And I think over time we've proven that for the most part. It's important to us. We want to be recognized as one of the best organizations in sport."
In January, Ravens owner Steve Bisciotti urged Jackson to get a new deal done with the team by March to lower his $74.5 million cap number for 2026. Instead, Baltimore was forced to restructure Jackson's contract, which increased his 2027 by $10 million.
Jackson last spoke publicly about his contract situation at the start of training camp in July, saying, "I will keep it the same way I have been keeping it. It's private between me and the GM."
Jackson has been one of the best playmakers in the game, earning NFL MVP in 2019 and 2023 before finishing runner-up in 2024. He is tied with Aaron Rodgers for the highest career passer rating (102.2) and owns the record for the most rushing yards by a quarterback (6,522). The biggest knock on Jackson is his 3-5 record in the postseason.
If the sides don't strike a new deal before next season, the Ravens will have to decide whether to keep Jackson for the final year of his contract or look to trade him to get compensation. Jackson has no-trade and no-tag clauses, which means he would have to sign off on any deal.
The urgency and the talk surrounding Jackson's contract status will only increase throughout the season.
"We've dealt with that distraction before," DeCosta said. "There's only so much we can do. So that's what I would say on that."
In other news, DeCosta said he doesn't know when the NFL will reach a decision on whether it will discipline wide receiver Rashod Bateman, who was arrested in June on family violence charges.
"It's obviously something that we're very disappointed about that we have to deal with these kinds of things right now," DeCosta said. "A little bit of a distraction at some points.
"The league has been doing an investigation as well as, I suppose, the authorities. In these matters, we just really kind of sit back and wait for the league and for the authorities to tell us what's going on. We'll wait. I have no indication how long that's going to take."