The Baltimore Ravens and Lamar Jackson’s contract are the big talking points of the offseason.

With Lamar’s $74.5 million cap hit for 2026, many know that the Ravens can’t go into free agency with that hanging over their heads. 

An extension or restructure has to happen. And most think it will.

But FS1’s Colin Cowherd thinks Baltimore is out of Super Bowl contention because of Lamar’s cap hit, which limits the franchise’s ability to sign free agents and remain in the Super Bowl conversation.

“The Ravens are done being a Super Bowl bubble team,” Cowherd said. “There’s no possible way with what they’re going to pay him. His current cap hit is $74M.”

More: Analyst offers horror 4-word prediction for Patrick Mahomes’ Chiefs

Why Cowherd is wrong on Lamar’s contract

On face value, Cowherd is right. The Ravens, if things stay the same with Lamar, won’t be contenders, but do we really think Baltimore will let that happen?

Per Over the Cap, a simple restructure of Jackson’s current contract frees up $38 million in cap space. 

That’ll do.

And an extension, which would free up just over $40 million by bringing his cap hit per year down. So that’s just one lever the Ravens can pull, and suddenly, they are in business. That is also without others following suit.

So yes, right now the Ravens are in a bind, but it won’t take much for the franchise to be players in free agency and therefore remain in the Super Bowl chase.

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