The Baltimore Ravens finally got a major deal done on Tuesday, but it may not mean much unless the bigger one follows.
Baltimore locked up Pro Bowl receiver Zay Flowers on a four-year extension worth a max of $140 million with $108 million guaranteed, according to ESPN. It’s a meaningful commitment to a player who could end up as the best receiver the franchise has ever drafted, and it comes after a 2025 season in which Flowers piled up 1,200 receiving yards while no other Raven reached 450.
But the real question hanging over this move is obvious: what does it matter if Lamar Jackson doesn’t get his extension?
Jackson, the two-time MVP, is heading into what currently looks like a lame-duck season, and Ravens fans are still waiting on the contract that will define the franchise’s next chapter. Flowers’ deal helps the offense, sure. It also feels like a piece of a much larger puzzle that still hasn’t been solved.
The Ravens got Flowers at a price well below the top of the wide receiver market, far from the $40 million per season that elite No. 1 receivers command. His agent, Joel Segal, did well to navigate a tricky market, especially with Flowers’ limitations in the red zone and end zone keeping his ceiling in check financially.
“Nothing better as a coach than to see those guys get what they deserve,” rookie head coach Jesse Minter said after camp practice on Tuesday. “So I’m really happy for Zay and excited for him and cant wait to see him thrive in our offense.”
Flowers turns 26 in September, and his numbers in touchdown catches and other key red-zone measures help explain why Baltimore was able to land this kind of package. The Ravens also had leverage on their side. They had the fifth-year option and a potential franchise tag available, and Flowers was a first-round pick, selected 22nd overall in 2023.
There’s also a practical side to the timing. Baltimore’s 2022 draft class has largely moved on in free agency, the roster doesn’t have many obvious extension candidates in their mid-20s, and the payroll is already leaning older. In that context, a deal for Flowers made sense for a team looking to secure at least one important offensive piece.
Still, the shadow over everything remains Jackson. He has said repeatedly, including during training camp, that he’s comfortable playing this season for roughly $50 million guaranteed and seeing where things go from there. With an $85 million cap hit looming next season, plus a no-trade clause and a no-tag clause that would effectively push him toward unrestricted free agency in 2027, the setup gives him plenty of room to wait.
That’s why the Flowers extension can only be viewed as the opening act. The Ravens can celebrate locking in a key receiver, but the bigger issue is whether general manager Eric DeCosta will give Jackson what he wants. If not, Baltimore could end up trying to squeeze value out of Flowers without the quarterback who makes the whole operation go.
For now, the expectation is that Flowers will keep moving around the formation more than ever, with a faster pace and more under-center snaps. Heavy personnel and play-action shots should create better matchups for him, giving the Ravens a clearer path to using his speed and versatility early in the down.
But even with Flowers signed, the franchise’s future still runs through Jackson.
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