Ramsey will now be under contract with the Jaguars through the 2020 season. According to The Athletic's Daniel Popper, Caldwell said the team will wait until after April's draft before contemplating a long-term extension for the 24-year-old cornerback.
Ramsey reached his second straight Pro Bowl in 2018. He finished the season with 65 combined tackles, three interceptions and 13 passes defended.
The Jags performed well below expectations a year after reaching the AFC Championship Game. They went 5-11 and benched quarterback Blake Bortles in November. Jacksonville's defense hardly deserved much blame, though, for the team's inability to reach the postseason.
While Ramsey is a critical part of the secondary, ESPN's Adam Schefter reported in November the Jaguars were at least open to the possibility of trading him. The team denied the report in a statement to Schefter.
Triggering Ramsey's fifth-year option doesn't necessarily preclude Jacksonville from dealing him down the line. Caldwell now has even more time to gauge Ramsey's trade market and see what he might be able to get back in return.
Of course, that option also buys the Jaguars more time to negotiate an extension, one that would likely make Ramsey among the highest-paid cornerbacks in the league.