When the Philadelphia Eagles announced last week they had signed Jalen Hurts to a five-year contract extension, reports on the deal indicated the former Alabama quarterback had become the highest-paid player in the NFL based on the average annual value of the deal.

At $255 million, Hurts’ contract had an average annual value of $51 million, which pushed then Green Bay Packers quarterback, but now New York Jets QB Aaron Rodgers off the top spot. Rodgers’ deal has an average annual value of $50.3 million.

But Hurts didn’t stay on top long.

On Thursday, the Baltimore Ravens announced they had reached a five-year contract agreement with quarterback Lamar Jackson. Reports peg the deal at $260 million – an average annual value of $52 million.

Unlike Hurts’ situation, in which the Eagles moved to lock up their quarterback before he could reach the end of his four-year rookie contract, the Ravens had placed their franchise tag on Jackson in March to keep him out of free agency.

RELATED: JALEN HURTS ON NEW CONTRACT: ‘MONEY IS NICE. CHAMPIONSHIPS ARE BETTER’

A first-round draft choice of Baltimore in 2018, Jackson played the 2022 season on the Ravens’ fifth-year option on his rookie contract.

After getting the franchise tag, Jackson asked Baltimore to trade him. Instead, the Ravens got a new deal done just in time for the start of the 88th NFL Draft on Thursday night.

Jackson became Baltimore’s starting quarterback with seven games remaining in his rookie season, and, the next year, he won the NFL Most Valuable Player Award and was the first-team All-Pro quarterback.

Jackson also was a Pro Bowler in 2021. In 2022, a knee injury caused him to miss the final five games of the season plus the Ravens’ playoff game.

During his 70 NFL regular-season games, Jackson has completed 1,055-of-1,655 passes for 12,209 yards with 101 touchdowns and 38 interceptions and run for 4,437 yards and 24 touchdowns on 727 carries.

FOR MORE OF AL.COM’S COVERAGE OF THE NFL, GO TO OUR NFL PAGE

Mark Inabinett is a sports reporter for Alabama Media Group. Follow him on Twitter at @AMarkG1.