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Inside the Lamar Jackson deal

Mike Florio and Myles Simmons unpack Eric DeCosta’s comments on Lamar Jackson’s contract negotiation and explore what flipped the switch for the QB to accept the Ravens’ offer.

It was signed and sealed on Thursday. The details have now been delivered.

Here are the full details of the new five-year contract signed by Ravens quarterback Lamar Jackson, per a source with knowledge of the terms.

1. Signing bonus: $72.5 million.

2. 2023 base salary: $7.5 million, fully guaranteed.

3. 2024 option bonus: $17.5 million, fully guaranteed.

4. 2024 offseason roster bonus: $750,000, fully guaranteed.

5. 2024 base salary: $14.25 million, fully guaranteed.

6. 2025 option bonus: $22.5 million, fully guaranteed at signing.

7. 2025 offseason roster bonus: $750,000, guaranteed for injury at signing and fully guaranteed in March 2024.

8. 2025 base salary: $20.25 million, guaranteed for injury at signing and fully guaranteed in March 2024.

9. 2026 offseason roster bonus: $750,000.

10. 2026 base salary: $51.25 million, $29 million of which is guaranteed for injury at signing and fully guaranteed in March 2025.

11. 2027 offseason roster bonus: $750,000.

12. 2027 base salary: $51.25 million.

The deal also includes a no-trade clause, and a no-tag clause. After 2027, he becomes an unrestricted free agent.

The contract contains $135 million fully guaranteed at signing. After one season, the full guarantee moves to $156 million. After two years, it becomes $185 million.

It’s a three-year, $156 million deal, with a lingering guarantee of $29 million for the fourth year. The $29 million would be subject to offset.

The cash flow is $80 million in year one, $112.5 million through year two, $156 million through year three, $208 million through year four, and $260 million through year five.

As G.M. Eric DeCosta explained on Wednesday’s #PFTPM, it’s basically the 2022 offer made by the team, with enhancements. And the enhancements get him the highest three-year cash flow of any player in league history -- $93 million more than Patrick Mahomes received.