The Ravens confirmed the agreement with 26-year-old Jackson—which follows months of sometimes-strained negotiations—in a tweet, but did not disclose financial terms.

The deal reportedly averages $52 million per year, topping the previous record of $51 million set by Philadelphia Eagles quarterback Jalen Hurts last week.

The agreement includes $185 million in guaranteed earnings, ESPN reported, falling short of a five-year, $230 million fully guaranteed deal inked by the Cleveland Browns and DeShaun Watson last year—a massive deal Jackson reportedly wanted to match.

 

Including off-field earnings, the highest-paid NFL player last year was Tampa Bay Buccaneers quarterback Tom Brady, who raked in $30 million on the field and $45 million in endorsements and other income, Forbes estimated.

 

A Heisman Trophy winner from the University of Louisville, Jackson joined the Ravens as the final pick in the first round of the 2018 NFL draft, but two years later, he was unanimously selected as league MVP. Jackson and the Ravens have struggled to agree on a deal to keep him in Baltimore after his rookie contract expires. Last month, the Ravens placed a non-exclusive franchise tag on Jackson, which gave him the right to negotiate with other teams but allowed the Ravens to match any offers. Weeks later, Jackson tweeted that he had requested a trade, claiming the Ravens were not “interested in meeting my value.”

Several other quarterbacks could sign massive contract extensions during this offseason, including the Los Angeles Chargers’ Justin Herbert and the Cincinnati Bengals’ Joe Burrow.