The Baltimore Ravens need to resolve two key contract extensions, which could significantly impact their future roster and salary cap.

The Baltimore Ravens are heading into the 2025 NFL offseason with a number of important decisions to make regarding their roster. Among the most critical tasks for general manager Eric DeCosta and the Ravens’ front office are the contract extensions of two key players: Lamar Jackson, the franchise quarterback, and Roquan Smith, the All-Pro linebacker. These decisions will not only shape the team’s immediate future but also influence the franchise’s long-term direction, particularly in terms of its salary cap and overall competitiveness.

Lamar Jackson’s Contract Extension

The most pressing issue facing the Ravens is Lamar Jackson’s contract extension. Jackson, who has been with the Ravens since 2018 and has already led the team to a playoff victory and an MVP award in 2019, is entering the final year of his rookie deal. Despite his extraordinary talent and importance to the franchise, the two sides have not yet reached an agreement on a long-term contract.

The Ravens’ approach to Jackson’s extension has been a subject of much speculation. On one hand, the team’s reluctance to offer Jackson a fully guaranteed contract, like the one Deshaun Watson received from the Cleveland Browns, has raised eyebrows across the league. Jackson, however, has made it clear that he seeks a deal that reflects his status as one of the best quarterbacks in the league, and he has the leverage to demand that kind of compensation given his unique skill set and the Ravens’ reliance on him.

With Jackson under center, the Ravens are a legitimate playoff contender, and they’ve built their offense around his abilities as both a passer and a runner. However, his dual-threat style also makes him susceptible to injury, which complicates the decision for the front office. Baltimore must balance the risk of a long-term commitment with the understanding that Jackson is the centerpiece of their offense.

A new contract for Jackson would likely make him one of the highest-paid quarterbacks in the league, possibly putting him in the same conversation as Patrick Mahomes and Watson, both of whom have contract structures that heavily emphasize guaranteed money. The Ravens are in a unique situation because Jackson’s contract is not just about his performance on the field, but also about how they structure the rest of the team around him. If they sign Jackson to a massive deal, they will have less flexibility to address other roster needs.

The Ravens have a strong defense and a solid supporting cast, but they need to continue adding weapons for Jackson to ensure the offense remains dynamic. While the Ravens made a big step forward by signing wide receiver Odell Beckham Jr. in 2024, more work remains. This is where the challenge of Jackson’s extension becomes more than just a financial negotiation; it’s about whether the Ravens are willing to commit enough resources to keep their roster competitive while securing the long-term future of their quarterback.

In the coming months, the Ravens will have to make a tough decision about whether to hand Jackson a fully guaranteed deal or find a compromise that balances his desires with the team’s salary cap structure. What happens with Jackson’s extension will have a ripple effect on the team’s free agent strategy, and it may define the Ravens’ success or failure over the next several years.

Roquan Smith’s Contract Extension

The other major contract extension the Ravens must address is that of Roquan Smith, who has quickly become one of the league’s top linebackers since arriving in Baltimore via trade from the Chicago Bears in 2023. Smith, a two-time Pro Bowler and an integral part of Baltimore’s defense, is entering the final year of his contract, and the Ravens will need to figure out whether to sign him to a long-term deal.

Smith’s impact on the Ravens’ defense cannot be overstated. His ability to cover ground sideline to sideline and his knack for making plays in the running game have made him a game-changer in Baltimore’s already-stout defense. The Ravens’ defense has long been a cornerstone of their success, and Smith has become a key cog in that unit. The team traded away significant draft capital to acquire Smith, and they will now have to decide whether to reward him with a lucrative deal or risk losing him in free agency.

Smith, who was drafted by the Bears in 2018, has been one of the best middle linebackers in the NFL since entering the league. His playmaking ability, leadership, and versatility make him one of the top defenders in the league, and he’s only 26 years old, which means he still has several prime years left in his career. A long-term deal for Smith would lock up one of the most valuable players on the roster for the foreseeable future.

However, this contract negotiation will be difficult, especially considering the Ravens’ salary cap situation. With Jackson’s extension looming, there’s only so much money to go around. The Ravens may need to make tough decisions elsewhere on the roster to accommodate both Jackson and Smith. As it stands, Smith is likely to command a contract that exceeds $20 million per year, putting him in the top tier of inside linebackers.

The Ravens will need to assess whether they can continue to build a championship-caliber defense around Smith while also allocating enough resources to maintain a potent offense with Jackson leading the way. While the team could potentially free up cap space by making some tough cuts, the priority will be to sign Smith to a deal that reflects his impact on the defense without compromising their ability to address other areas of need.

Balancing the Salary Cap and Future Flexibility

With Jackson and Smith on the brink of new deals, the Ravens face a delicate balancing act. They will need to navigate their salary cap and future flexibility carefully to ensure that they can keep both players while also building a team that can contend for championships.

The Ravens have been successful in the past at finding cost-effective players in the draft and through free agency, and they’ll likely continue to do so. However, the massive contracts for Jackson and Smith will eat into the team’s cap space, which means they’ll have to be selective in how they approach other roster moves. For example, the team may have to let go of veterans with large contracts or restructure existing deals to create room for these extensions.

In addition to Jackson and Smith, the Ravens will also have to make decisions about other key players in the coming years. While the team has a strong defensive core, they will need to continue to add talent at key positions, including wide receiver and pass rusher, in order to stay competitive. The salary cap will limit how much they can do in free agency, so the team will have to rely on drafting well and developing players from within.

The Ravens are currently in a strong position, but their ability to retain Jackson and Smith will be key to their future success. If they can lock up both players while keeping the rest of the roster competitive, they’ll have the foundation to contend for championships for years to come.