Everyone is familiar with Lamar Jackson’s smart money moves. They’re aware of how his mom helped him save a whopping $7,800,000 in agent fees when he signed his mammoth $260 million deal with the Ravens. However, this isn’t the first time that his mother’s involvement has resulted in significant savings for the young star.
Advertisement
Back in 2018, nearly 5 years before signing his latest extension, Lamar Jackson had signed his rookie contract worth $9.47 million. He then wasted no time in purchasing his dream house. In fact, with his mother’s guidance, he was able to leverage her Limited Liability Company (LLC) to secure the property for $900,000 in cash, while it was listed for well over a million.
When it comes to living the high life, Jackson certainly knows how to do it in style. The Ravens quarterback had purchased a stunning mansion in Owings Mills, back in 2018. While the mansion’s original listing price was $1.2 million, Jackson paid a discounted price of $900,000 in cash for the eight-bedroom home, as reported by NewYorkPost.
Stepping inside the luxurious mansion, you’ll be greeted by a grand two-story foyer and a curved staircase. The ceilings are quite high measuring almost nine-foot. Wood floors and crown moldings add richness to the property.
Spread across a 3.3-acre area, the property offers an array of amenities. This includes a recreation room, a gym, a whirlpool hot tub, a private pool and spa, a wet bar, two fireplaces, a breakfast nook, an office, a large patio, and a three-car garage. While he managed to save big dollars on his home, how did he manage to do it when it came to his contract?
Jackson’s Mother is Certainly a Saver!
When it came to negotiating his record-breaking contract with the Baltimore Ravens, Lamar Jackson made a bold move that left many people questioning his decision. Instead of hiring a high-priced agent, he trusted his own mother, Felicia Jones, to handle the deal. And boy, did it pay off! N
ot only did Jackson secure the biggest contract in NFL history on a yearly salary basis, but he also managed to save a whopping $7.8 million in agent fees.
NFL superstar QB Lamar Jackson fired his agent & hired his mom to negotiate his contract. He is now the highest paid QB after signing a $260M 5 yr deal. He avoided the 3% agent fee and gave the $7.8M to his mom. “Keep it in the family” pic.twitter.com/qyZoLJ1vNq
— Black Millionaires ® (@Blackmillions_) April 27, 2023
Amidst the uncertainty surrounding his NFL future, Jackson silenced the critics by signing a massive $260 million 5-year deal with the Ravens. While other players have to fork over a significant portion of their earnings to their agents, Jackson cleverly avoided this by entrusting his mother with the negotiations.
Now when both, the Ravens and their star QB are happy, it will be interesting to see how things turn out for the unit in the coming season.
