Lamar Jackson and Ravens agree to five-year, $260m contract

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Lamar Jackson will remain with the Baltimore Ravens after all.

After months of negotiating and public posturing, the Ravens and Jackson agreed to a five-year contract extension on Thursday.

The Ravens' official Twitter account confirmed the news by posting a video of the 2019 NFL MVP celebrating the next five years in Baltimore.

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Jackson's new deal makes him the highest-paid player in the league with a total contract value of $260million, according to NFL Network's Ian Rapoport, reportedly including $185m in guarantees.

Announced just hours before the start of the 2023 NFL Draft, the contract ends a months-long negotiation process that at times was portrayed as tense and adversarial.

While the details of the contract have not been publicly confirmed, both sides reportedly used Jalen Hurts' new deal with the Philadelphia Eagles as a starting point.

After leading the Eagles to a Super Bowl appearance, Hurts received a five-year extension worth up to $255m, with $179m in guaranteed money.

Jackson had reportedly been seeking a fully guaranteed contract – a demand that had, until this week, caused an impasse in negotiations.

On March 7, Baltimore placed the non-exclusive franchise tag on the two-time Pro Bowl quarterback, allowing other teams an opportunity to sign Jackson to an offer sheet in exchange for two first-round draft picks.

Three weeks later, Jackson announced on Twitter he had requested a trade earlier this offseason.

Jackson is 45-16 as a starter in the regular season and was voted the 2019 MVP after leading the league with 36 touchdown passes and rushing for a quarterback-record 1,206 yards.

In 70 career games, Jackson has completed 63.7 per cent of his passes for 12,209 yards, 101 touchdowns and 38 interceptions. He has added 4,437 rushing yards and 24 scores on the ground.