Lamar Jackson Faces Potential Season End as Ravens Weigh $84.34 Million Cap Hit

Q: With an $84 million cap hit looming, has Lamar Jackson played his final snap in a Baltimore Ravens uniform?

Probably not, but it is a real possibility. The strongest evidence points to Baltimore trying to keep Lamar Jackson, not move on from him. Owner Steve Bisciotti and general manager Eric DeCosta have both said they want an extension, and the Ravens’ on-field record without Jackson remains poor. Since 2019, they are 7-14 when he does not start, which reinforces how central he is to the franchise. The $84.34 million cap hit for next season is the key pressure point. Baltimore is also projected to be well over the cap in 2027, so the current deal is widely viewed as unsustainable without a restructure or extension. That makes an offseason resolution almost unavoidable. The cleanest path is a new contract that lowers his cap number and keeps him in Baltimore. What makes the situation less certain is Jackson’s leverage and health. He represents himself, has no-trade and no-tag clauses, and can effectively shape the outcome. If extension talks stall again, a trade becomes plausible because Baltimore likely cannot carry the cap hit as is. His recent durability record also complicates negotiations: if this thumb injury ends his season, he will have started and finished only 14 of 34 games across the 2025 and 2026 seasons. So the answer is no, not yet most likely. But if contract talks break down after another injury-marred year, Sunday’s snap against Buffalo could end up being his last as a Raven.

Q: After losing their starter and backup, who will the desperate Ravens sign to salvage their rapidly collapsing season?

The Ravens’ most immediate move is not a splash trade but a depth signing: they have already signed free-agent quarterback Austin Reed, a former Chicago Bears camp arm who most recently played for the UFL’s Dallas Renegades. That does not mean Baltimore is done. With Lamar Jackson headed for thumb surgery and injured reserve, Tyler Huntley dealing with what is believed to be turf toe, and rookie Joe Fagnano also banged up, the Ravens are still expected to explore veteran help before Thursday’s game against Jacksonville. League reporting indicates their top trade target has been Bears backup Tyson Bagent, with Broncos third quarterback Sam Ehlinger and Cardinals veteran Jacoby Brissett also discussed as possible options. The problem is timing. Baltimore has only a few days before kickoff, and acquiring a quarterback via trade or from another practice squad is complicated by travel, physicals, installation of the offense and roster logistics. That makes Reed the practical emergency answer, while Fagnano remains the in-house option most likely to start if Huntley cannot go. Veteran free agents such as Jimmy Garoppolo, Cooper Rush, Josh Johnson, Bailey Zappe and Brandon Allen have also been mentioned as possibilities, but no evidence in the material shows Baltimore has landed any of them yet. So the answer, for now, is Reed as the quarterback they have actually signed, with Bagent appearing to be the bigger outside target if the Ravens can pull off a deal quickly enough.

1 articles · Updated · ESPN · Nov 2

Jackson will undergo thumb surgery after Baltimore’s 36-10 loss in Buffalo, and coach Jesse Minter said the injury is potentially season-ending.
That setback deepens uncertainty over his Ravens future because his 2027 cap charge is $84.34 million, while Baltimore is already $45.94 million over the cap — the NFL’s worst mark.
No extension appears close despite public urgency from owner Steve Bisciotti and GM Eric DeCosta, leaving open the possibility that Baltimore explores a trade before Jackson’s final contract year.
Jackson controls much of that outcome through no-trade and no-tag clauses, and he may wait for younger quarterbacks to reset a market now topped by Patrick Mahomes at $63 million annually.
The stakes are high for both sides: Jackson is a two-time MVP, but he has missed 18 games in six seasons and would have started and finished only 14 of 34 games across 2025 and 2026 if sidelined the rest of this year.