For a franchise accustomed to contention, missing the playoffs forced difficult conversations in Baltimore. It first culminated in John Harbaugh’s exit, but the possibility of a full rebuild also looms. With the extension talks still up in the air with their franchise quarterback, Lamar Jackson, the doomsday scenario is no longer just speculation, as suggested by long-time NFL scout Tony Agnone.

“The other option for them, of course, is that they say, ‘Lamar, look, if we can’t come to some understanding, what we’ll do is we’ll trade you,’” Tony Agnone said in the video shared by Bmore Sports Podcast on X this Saturday. “At that point, that’s another option that we all have to look at.”

The quarterback just completed year three of his five-year, $260 million contract signed on May 4, 2023. That deal keep him in Baltimore through 2027. However, there are multiple reasons why this conversation even started, and the origin goes all the way back to December.

Then, longtime Baltimore Sun writer Mike Preston released a column reporting that Ravens coach John Harbaugh has “become tired” of Jackson. Of course, when the franchise ended its season with an 8-9 record, they chose to stick with their quarterback and cut their legendary head coach, Harbaugh. But while Preston’s reasoning of preferential treatment might not stand true, as confirmed by Harbaugh, it is hard to ignore Jackson’s season.

The Ravens already began 2025 with a 1-5 record that reduced, if not completely diminished, their margin of error. Then there was Jackson’s inability to stay healthy. Even after Baltimore clawed their way back into contention, Jackson’s back injury put the Ravens’ playoff hopes on the brink. And that wasn’t it.

Overall, Jackson has dealt with knee, ankle, and toe injuries this season and hasn’t had a whole week of practice after their bye week, only adding to why he could be traded.

It is important to note that Jackson has a no-trade clause in his agreement. With that in place, any agreement between the Ravens and another team would need to be signed off on by the two-time MVP.

For now, there is no indication Jackson wants to be traded or that the Ravens are planning to make a move. However, there is enough smoke to make it a storyline worth monitoring. And then there are the extension talks.

Why Lamar Jackson’s contract hasn’t seen an extension yet

The Ravens reportedly began extension talks with Jackson before the 2025 season, only to get no further clarifications. However, an extension works for both parties.

Jackson is the tenth-highest-paid quarterback on an average annual basis, putting the two-time MVP slightly behind the eight-ball. He could very easily get the Ravens to increase his AAV to close the gap with the likes of Josh Allen and Dak Prescott, who also followed the same strategy. 

For Baltimore, an extension gives them cap flexibility. The Ravens are staring at a financial cliff, with Jackson’s salary cap hit set to explode from roughly $43.5 million in 2025 to more than $74 million in both 2026 and 2027.

That kind of jump is unimaginable for a team trying to keep a Super Bowl window open.

By spreading out the money, the Ravens would unlock cap flexibility to re-sign key free agents like Tyler Linderbaum and Dre’Mont Jones, and add reinforcements around Jackson. But it is important to understand that he is the living embodiment of the Ravens’ current era, even with a new head coach in place.

“This is Lamar’s team. Let’s not make any mistake about it,” Agnone later added. “So whatever he decides is really gonna decide on how this team moves forward.”

The first series of negotiations between Jackson and the Ravens after his rookie contract was up were challenging to say the least. The two sides couldn’t agree to a long-term deal until more than two years after those discussions first started. And so, while Jackson may seem to be one of the most untouchable players in the NFL, with cap concerns and his injury-riddled 2025 season, some rumors might start to swirl.

The Ravens finished last season with clear roster gaps. They gave up the second-most passing yards per game (247.9) and had just the third-lowest sack tally (30).

With the roster showing cracks and the salary cap tightening fast, Baltimore is running out of time to treat Lamar Jackson’s future as a distant problem.

That urgency is already spilling into bigger conversations, from Derrick Henry’s massive contract push to whether a proven star like A.J. Brown could be the kind of offensive statement move Jackson has been waiting for.

Derrick Henry pushes for $96M A.J. Brown to boost Lamar Jackson’s offense

While Lamar Jackson’s contract situation stays unclear, Derrick Henry has turned attention to the offense. The veteran running back openly made his demand known to the Ravens’ front office, asking them to chase a proven wide receiver. Speaking on Up & Adams with Kay Adams, Henry made a strong pitch for his former teammate.

“We would gladly love to have him… Lamar would love A.J.… A.J. is a dog,” Henry said. “Come to Baltimore, and let’s go get this ring.”

Henry and Brown played together with the Tennessee Titans from 2019 to 2021 and reached the playoffs in all three seasons. Brown later became a star with the Philadelphia Eagles, earning three Pro Bowl selections, three second-team All-Pro nods, and winning a Super Bowl in 2024. However, the two parties have been having some problems recently, which also include their quarterback, Jalen Hurts.

Moreover, while such an addition sounds good on paper, A.J. Brown signed a three-year, $96 million extension with the Eagles before the 2024 season. This would keep him under contract through 2029. Any trade would be costly, likely requiring one of Baltimore’s top receivers, Zay Flowers or Rashod Bateman, plus draft picks.

For now, the Ravens are entering a bold new phase under the new leadership of Jesse Minter. The new head coach will no doubt be excited about the prospect of working closely with a franchise QB like Jackson, but if rumors are to be believed, they might not link up after all. With Lamar Jackson’s contract, Derrick Henry’s push for elite help, and A.J. Brown’s uncertain future, Baltimore’s next decision could shape the franchise’s future for better or worse.