A source told ESPN’s Jeremy Fowler that the deal is worth $56 million.
At $14 million per season, that makes Andrews the third-highest-paid tight end in the league, trailing only George Kittle ($15 million per season) and Travis Kelce ($14.3 million).
Andrews, who was scheduled to be a free agent at the end of the season, will receive $37.6 million in guaranteed money for 63% of the deal, the source told Fowler. He will be paid $26.6 million by March 2022.
The new deal was a timely birthday present for Andrews, who turned 26 on Monday.
“Mark is exactly the type of player we wish to keep as a Raven long term,” Baltimore general manager Eric DeCosta said. “He’s competitive, passionate, talented and a leader. We are so excited to have him in Baltimore for the next five years. Congratulations to Mark and his family — and happy birthday.”
A third-round pick in 2018, Andrews quickly became a favorite target for Lamar Jackson. Andrews’ 17 touchdowns over the past two seasons top all tight ends and rank No. 8 in the NFL overall.