He may not have won a Super Bowl ring yet but when Lamar Jackson signed a new five-year contract at the beginning of the current NFL season worth $260 million, he became the highest-paid player in the league. That deal has now been beaten by Joe Burrows but it is still a spectacular amount of money – and a contract that Baltimore Ravens fans would say is fully deserved.
Jackson had held out on signing a contract, which would have made things very interesting in the world of football. But he is now committed to five years in Baltimore and is currently on track to help his team win another championship. He has been one of the most exciting young quarterbacks in the NFL since making his debut in 2018 and much is expected of this Florida native.
Whether Baltimore does win the Super Bowl or not awaits to be seen and you can find out where to bet and get the best odds on Lamar Jackson. But, for now, let’s take a look at Jackson’s career and how he has earned, spent, and invested his money over the years.
Lamar Jackson’s Career
Although not being rated as some of his peers while at high school, Lamar Jackson went on to win the Heisman Trophy in his sophomore year at the University of Louisville. Even then, some pundits questioned his quarterback abilities when he made himself eligible for the 2018 NFL Draft. They believed he would make a better wide receiver in the pro game.
He was ultimately taken by the Baltimore Ravens in the first round and 32nd overall. His rookie contract was reportedly $9.47 million with a $4.97 million signing bonus. He made his first NFL start in November 2018 and went on to win six games, losing only one before the Ravens exited the postseason after their first playoff game.
The next year Lamar Jackson enjoyed his most successful season to date. Although the Ravens would once again surprisingly lose in the first round of the playoffs, Jackson’s performances in the regular season earned him the MVP. He was only the second player ever to be unanimously voted, after Tom Brady.
Jackson has continued to post winning seasons for Baltimore in every year he has played for the team. But he turned down a contract extension in 2022 and then officially demanded a trade in March 2023 after he was given a non-exclusive franchise tag. After almost two months of negotiations, Jackson then signed the record-breaking five-year $260 million deal, with $185 million guaranteed.
Lamar Jackson’s Endorsements
Even though Jackson is widely regarded as one of the best players in the NFL at the current time, he does not enjoy as many big deals as some of the league’s other stars. This is because, unlike other players, he refuses to chase endorsements through agencies, preferring instead to seek deals on his own terms.
At the present time, Jackson doesn’t have any endorsement deals with any of the major sports shoes and apparel makers but is contracted by Oakley. He also has an interest in the restaurant business with Play Action Soul Food. On top of that, he became the first cover star for the league’s first-ever virtual reality (VR) game, NFL Pro Era.
Lamar Jackson’s Assets
Jackson’s life off the football field has been kept remarkably private compared to some of the other big names in the NFL. He has been known to invest in real estate, however, including a $30 million mansion in Owings Mills, MD, where he lives with his mother and brother.
His main source of enjoyment when it comes to spending money is automobiles, it seems. His collection includes a Rolls Royce, a Lamborghini, a Bentley, a Mercedes, and a Porsche. All those vehicles come with six-figure price tags.
Lamar Jackson’s Estimated Net Worth
After signing that contract extension at the beginning of the current season, Lamar Jackson’s net worth is now estimated to be around $40 million. That figure is calculated by taking his salary, endorsements, investments, and commercial activity into account.
What Could Increase Lamar Jackson’s Net Worth?
Lamar Jackson is only playing in his sixth year of pro football and is already one of the highest-paid players of all time. So it is easy to see that his net worth has been rocketing upward sharply. Even though an NFL quarterback career can be notoriously short, there is a lot of potential for Jackson to increase his net worth in the coming years.
Now that Jackson has signed a new contract, there will be little movement in his salary for a while. But there is still a lot of opportunity to earn major deals away from the game. This would be especially true if he manages to win a Super Bowl with the Baltimore Ravens.
Jackson is obviously very careful about his endorsement deals but could definitely command large amounts for any clothing or merchandise contracts if he continues playing at the same level. Breaking more NFL quarterback records would also make him an attractive asset for any company.
Figure 2 A Super Bowl win would boost Jackson’s net worth yet further
Lamar Jackson is one of the best players in the NFL right now and one of the most athletic and electrifying QBs ever – even in an era where quarterbacks show that they can do so much more than pass the ball. With an average annual salary of $52 million, he is one of the most successful players, financially speaking, too.
It is refreshing to see how much personal control Jackson still exerts on his business dealings, even to the point of him missing out on millions of endorsement money because of his belief in his own worth.