Owings Mills, Maryland - Lamar Jackson will have his big big receiver for the foreseeable future as the Baltimore Ravens announced Thursday that they have signed Rashod Bateman.

A source told ESPN's Adam Schefter that Bateman's deal has been in three years, with $36.75 million, including a $20 million guarantee.

The contract comes one year after Bateman signed a team-friendly two-year extension, worth $12.8 million, as he is not eligible for the fifth year option after starting the 2023 boot camp on the “unreported” list. Now, after becoming Baltimore’s most explosive wide receiver, he is on a contract for the 2029 season.

Bateman, 25, has transformed from a poor 2021 first-round draft pick to the best threat to the NFL No. 1 offense in 2024. He was the only player in the NFL last season, averaged 16 yards to each reception and received at least 9 touchdown passes.

He finished third in the NFL with his 16.8 yards last season, behind only Indianapolis' Alec Pierce (22.3) and Detroit's Jameson Williams (17.3). Bateman has had three touchdown catches for at least 40 yards in 2024 in at least 2000 and tied for the highest speed.

At the 27th pick in the 2021 draft, Bateman's career has a challenging start. After having hernia surgery, he missed the first five games of his rookie season and was eliminated in the final nine games of his second season after foot surgery.

In March 2023, Bateman summoned Ravens General Manager Eric DeCosta on social media to post a GM comment that was the team’s disappointing record of capturing the pass catcher. Bateman later said he talked to Decosta, "Now we are our best friends."

A year later, Bateman enjoyed a breakthrough season. As the No. 2 receiver behind Zay Flowers, Bateman recorded his career high with 756 yards and nine touchdown catches, leading to Thursday's extension.