Lamar Jackson’s return to the Baltimore Ravens lasted just one play. After missing three games with a high left ankle sprain, the quarterback injured his right thumb on the opening snap of Sunday’s 36-10 loss to the Buffalo Bills. He now needs surgery and will be placed on injured reserve, with head coach Jesse Minter leaving open the possibility that Jackson could miss the rest of the season.

“If the sides don’t strike a new deal before the upcoming offseason – and the Ravens have maintained optimism about reaching an extension with Jackson – Baltimore could look to trade him. Jackson has no-trade and no-tag clauses, which means he would have to sign off on any deal,” ESPN’s Jamison Hensley reported Monday.

Jackson signed a five-year, $260 million extension in 2023, which made him the NFL’s highest-paid player at the time. The contract runs through 2027. Baltimore reworked the deal in March to clear nearly $40 million in cap space for 2026, but that pushed his 2027 cap figure up to $84.34 million.

That number could make it harder for the Ravens to manage their cap. Without a new deal, they may have to carry the large cap hit or restructure the contract again and push more money into future seasons. Baltimore could also lose Jackson after 2027 without having the franchise tag available to keep him.

General manager Eric DeCosta has repeatedly said he wants to reach an agreement with Jackson. In September, he said he remained optimistic about signing Jackson, but the two sides have yet to announce a deal. Owner Steve Bisciotti had also made clear earlier in the year that the organization wanted an extension before free agency because it needed financial flexibility to retain other players.

Jackson’s injury record could make those discussions more complicated. He missed three games with an ankle injury this season after sitting out four games last year because of hamstring and back problems. His latest setback came on his first play back, and the possibility of a season-ending absence raises fresh questions about how Baltimore should approach another expensive commitment.

Former NFL scout John Middlekauff also questioned whether the relationship could reach a breaking point. Speaking on The Colin Cowherd Podcast, he said,

“Lamar’s not an easy guy to do a contract with. Because you’re talking, you know, at a player of his stature when you’ve won the MVPs, you’re getting an extension, you’re talking hundreds of millions of dollars guaranteed. And now, this is not ideal for him.”

Middlekauff added that the recent injury developments made him believe a separation was possible. “You could convince me Lamar and the Ravens are headed for some sort of divorce,” he said.

There is history behind the concern. Jackson requested a trade during negotiations before signing his current contract in 2023. He also represents himself, rather than working with an agent, which has made his negotiations different from those of many other star quarterbacks.

Still, Baltimore has strong reasons to keep him. Jackson has won two MVP awards and remains the centerpiece of the franchise. The Ravens have gone 7-14 in games without him since his first start in 2018, including playoff games. Finding a replacement for a quarterback with his production would be a difficult task.

A trade would not be straightforward, either. Jackson’s no-trade clause gives him control over any potential destination, while the no-tag provision means Baltimore cannot use the franchise tag when his contract expires. The Ravens would have to find a deal that Jackson accepts and receive enough in return to justify moving on from their franchise quarterback.

For now, an extension remains the preferred outcome for Baltimore. But with Jackson facing another lengthy recovery and an $84.34 million cap hit looming in 2027, the possibility of a trade is now part of the conversation.