TRADE ALERT: New Orleans Saints Submit NFL’s Largest Contract Offer to Lamar Jackson’s Agent Amid Looming Baltimore Exodus
A seismic shift is rocking the NFL landscape tonight as the New Orleans Saints have formally submitted a record-shattering contract offer to the agent of Baltimore Ravens quarterback Lamar Jackson.
League sources have confirmed that Saints front office executives, led by General Manager Mickey Loomis, presented Jackson’s representation with a proposal that would not only make him the highest-paid player in league history but would also fully guarantee the entirety of the deal—a structure the Ravens franchise has publicly refused to provide the two-time MVP.
This bold move, described by one insider as “aggressive beyond precedent,” signals an all-in push by New Orleans to solve their lingering quarterback crisis and signals the potential end of the Jackson era in Baltimore.
The “Godfather” Offer: Terms and Structure
While specific annual breakdowns are still being finalized pending the expected rise of the 2027 salary cap, sources indicate the Saints’ offer eclipses the current market ceiling of $60 million per year held by Dak Prescott .
The offer is believed to span five years with a total value exceeding $320 million, averaging $64 million annually. However, the true headline is the guaranteed money. Following the blueprint of the Deshaun Watson contract—which remains the only fully guaranteed deal of its size in NFL history—the Saints have offered a 100% fully guaranteed contract, a structure the NFL has attempted to discourage via “collusion” protocols among ownership .
By submitting this offer, the Saints are leveraging their newly repaired salary cap situation. For years, New Orleans was the poster child for “Cap Hell,” consistently millions over the limit. However, as of the 2026 league year, the Saints have miraculously climbed out of their deficit, currently holding an estimated $37 million in effective cap space for 2026 . By utilizing void years and conversion bonuses, Loomis is prepared to rip up that entire structure to accommodate a quarterback of Jackson’s caliber.
Why New Orleans? The Derek Carr Disconnect
For the Saints, this pursuit is an admission of a failed experiment. Two years after signing veteran Derek Carr to stabilize the position, the marriage has soured. Carr, who retired in the 2025 offseason, has indicated a desire to return to the league—but only for a “Super Bowl contender” . However, the Saints have reportedly received zero trade inquiries regarding Carr’s rights, leaving him in a bizarre contractual limbo .
By pivoting to Jackson, the Saints are bypassing the awkwardness of the Carr situation entirely, opting for a dynamic, game-breaking athlete over a pocket passer. Jackson’s fit in Head Coach Kellen Moore’s offensive scheme—assuming Moore has survived the 2025 season—would revolutionize an offense that has struggled to generate explosive plays since the departure of Sean Payton.
The Baltimore Breakdown: Why the Ravens Are Vulnerable
To understand how the Saints have gained a foothold, one must look at the crumbling financial infrastructure in Baltimore.
While Jackson signed a five-year, $260 million extension in 2023, the NFL’s salary cap explosion—combined with the recent $55 million extension for Matthew Stafford—has made that deal look like a bargain for the Ravens . Jackson currently ranks 9th among quarterbacks in average annual value, a standing his camp views as disrespectful .
The Ravens restructured Jackson’s deal earlier this offseason to create $40 million in cap space for a Super Bowl push, but that move has backfired spectacularly regarding long-term security. By converting salary to bonuses, Baltimore pushed a massive cap hit into the future. As of the 2026 projections, Jackson is set to count **$84.49 million against the Ravens’ 2027 cap** .
This number is impossible to manage. It forces the Ravens into a corner: either extend Jackson again (lowering the 2027 hit) or let him walk.
ESPN analyst Louis Riddick addressed this powder keg recently, noting that a split is not only possible but probable.
“They’re 20 million plus over the cap, right now, projected. Lamar’s cap number, from this year to next, goes from, like, 34 to 84. They need to get that down. They need to get a long-term extension in place.”
If Jackson plays the 2026 season under his current deal, he hits free agency in 2027 with no franchise tag constraints—a clause his agent famously negotiated into his previous contract .
The “Fully Guaranteed” Flashpoint
The Saints’ willingness to guarantee every dollar is the ultimate poison pill for Baltimore.
When the Ravens previously offered Jackson two separate three-year, fully guaranteed contracts, Jackson famously turned them down . Baltimore has operated under the philosophy that fully guaranteed deals destroy roster flexibility—a philosophy that has cost them star players like safety Chuck Clark and others in the past.
Now, the Saints are calling the Ravens’ bluff. By offering a fully guaranteed structure for a five-year term, New Orleans is presenting Jackson with the security Cleveland gave Deshaun Watson, but for a player who has actually won MVPs and playoff games.
The Legal and Procedural Roadblocks
Before Saints fans start printing their Jackson jerseys, there are significant hurdles.
1. The Franchise Tag: While Jackson’s current deal prohibits a tag in 2027, the Ravens still hold his rights for the 2026 season. He is under contract. This “offer” by the Saints is technically tampering unless the Ravens have granted permission—which they have not.
2. The Collusion Grievance: The NFL just endured a gruesome legal battle regarding collusion against quarterbacks seeking guaranteed money . If the Ravens can prove the Saints tampered, the penalty could include the loss of multiple first-round draft picks.
3. The Watson Precedent: The Browns have never fully recovered from the salary cap devastation of the Watson trade and subsequent suspension. While the Saints are desperate, committing nearly $330 million fully guaranteed to a quarterback who has missed significant time due to knee injuries in two of the last four seasons is a gargantuan actuarial risk.
What Comes Next?
For Lamar Jackson, this is the leverage he has been seeking since he entered the league. He can now go to Ravens GM Eric DeCosta and demand the 2023 negotiations be ripped up entirely. If Baltimore refuses to match the Saints’ fully guaranteed structure, Jackson could demand a trade immediately, forcing the Ravens to take a massive dead cap hit rather than letting him walk for nothing in 2027.
For the Ravens, the math is cruel. They can attempt to restructure Jackson again, but pushing more money down the road would mean committing $100+ million cap figures for a player entering his 30s. Alternatively, they could begin listening to trade offers now to recoup the draft capital they lost in previous win-now moves.
For the Saints, this is the thrill of the hunt. After years of kicking the can down the road on defense and offensive line, they are finally swinging for the fences on the most electrifying player in the sport. If they succeed, the NFC South instantly runs through New Orleans for the next half-decade.
As one AFC executive told ESPN regarding Jackson’s future, “This one has a chance to get really interesting again, especially if he has a big year and ups his leverage” . The Saints have just ensured that the 2026 season will be dominated not just by the games on the field, but by the drama of where Lamar Jackson will play in 2027.
