The Ravens announced Tuesday that they have placed the franchise tag on quarterback Lamar Jackson ahead of Tuesday’s deadline after both sides were unable to agree on a long-term extension.
“We will continue to negotiate in good faith with Lamar, and we are hopeful that we can strike a long-term deal that is fair to both Lamar and the Ravens,” general manager Eric DeCosta said in a statement. “Our ultimate goal is to build a championship team with Lamar Jackson leading the way for many years to come.”
According to ESPN and NFL Network, the team placed the non-exclusive franchise tag on Jackson. This means Jackson will get paid $32.4 million next year and he is permitted to sign an offer sheet with another team. Baltimore could then decide if they want to trade or keep Jackson.
According to a Monday report from NFL Network, Jackson and DeCosta recently met in Miami to try and work out a last-second deal but were unable to meet in the middle. For two offseasons, the two sides were unable to find common ground during negotiations. Jackson, 26, does not have an agent and represented himself during talks.
It was reported by ESPN’s Jeremy Fowler in February that all of Jackson’s counter-offers to the team last year sought a fully guaranteed contract that was larger than the record-breaking deal Deshaun Watson signed with the Browns. In March 2022, Watson signed with Cleveland for five years on a deal worth $230 million guaranteed—the most guaranteed money in NFL history.
However, the team didn’t come anywhere close to that number, per ESPN. Instead, the Ravens offered him a five-year, $250 million contract in September which included $133 million guaranteed, but Jackson rejected it. ESPN’s Stephen A. Smith appeared to throw cold water on the report, though, when he said that Jackson’s camp told him the quarterback was not demanding a fully guaranteed deal.
Jackson is one of the most electrifying players in the NFL and is already an MVP, an All-Pro and a two-time Pro Bowler. He threw for 2,242 yards and 17 touchdowns while also rushing for 764 yards and seven scores in his 12 games played this past season.
