Ian Rapoport Discusses What Patrick Mahomes’ Historic Contract Extension Means for Lamar Jackson
Ian Rapoport Discusses What Patrick Mahomes’ Historic Contract Extension Means for Lamar Jackson
Patrick Mahomes’ historic contract extension with the Kansas City Chiefs has reset the quarterback market and intensified the spotlight on quarterback Lamar Jackson and the Ravens.
The Chiefs added two years to the 10-year deal Mahomes signed in 2020, with the new money being worth $239.05 million and the total value coming out to $504.75 million, NFL Network’s Ian Rapoport and ESPN’s Adam Schefter reported Wednesday. It’s the first NFL deal to be valued at more than $500 million.
Schefter added that all $504.75 million becomes guaranteed through contract mechanisms and that Mahomes can earn up to $522.25 million through incentives and escalators. The $64 million annual average value of the deal, beginning in 2027, is an NFL record.
“The next question has to be how close can Lamar Jackson get to [Mahomes’] contract extension,” Rapoport said on “The Insiders.” “Here’s the thing: Lamar Jackson’s situation is different for a couple reasons. First of all, he’s got two years left on his contract, making about $52 million this year, so not really thirsty for a new contract.
“The team has already restructured his deal for cap reasons, and I would say, not always but generally, when a team restructures a player’s deal, you don’t often see a player then get a contract extension. It can happen. Certainly the Baltimore Ravens and Lamar Jackson have discussed it. You just don’t often see it.”
Owner Steve Bisciotti said in January that he wanted to get a contract extension done with Jackson before the start of the new league year in March. That didn’t happen, and there have been no updates regarding negotiations because Jackson and General Manager Eric DeCosta keep those conversations to themselves.
Rapoport said it makes sense from Jackson’s standpoint to wait until 2027 to sign a new deal.
“I would not be surprised if he goes out and kills it this year and then cashes in during the next offseason,” Rapoport said.
ESPN’s Jeremy Fowler said something similar last week.
“Some around the league wonder whether Jackson wants to wait until next offseason to up his value,” Fowler wrote. “The quarterback market could move during the 2027 offseason, with Drake Maye, Caleb Williams and Jayden Daniels eligible for new deals.”
