The Ravens restructured Lamar Jackson's contract to free $40M in cap space, enabling a $112M deal for Trey Hendrickson.

The Baltimore Ravens have restructured quarterback Lamar Jackson’s contract, freeing up nearly $40 million in salary cap space by converting his 2026 base salary into a bonus spread over four years. This reduced his 2026 cap hit from $74.5 million to $34.54 million, enabling the team to sign pass rusher Trey Hendrickson to a four-year, $112 million deal. The move, triggered by a contract clause, increases Jackson’s 2027 cap number to $84.49 million. Despite a down 2025 season marked by injuries and a 6-7 record, the Ravens remain committed to Jackson, who is still negotiating a long-term extension. The restructuring follows the team backing out of a trade for Maxx Crosby and comes amid a broader trend of high-profile quarterback contract adjustments across the league.