The Ravens and Lamar Jackson were unable to come to terms on a long-term contract extension ahead of the NFL's franchise tag deadline. Without a new deal agreed upon, Baltimore opted to place the non-exclusive franchise tag on their star quarterback on Tuesday.
As a result, Jackson will be able to negotiate with other teams on a potential long-term deal, though the Ravens will retain the right to match any offer sheet put forth.
Executive Vice President and GM Eric DeCosta released a statement regarding the organization’s decision to place the franchise tag on the former MVP, indicating they still intend to work out a long-term deal with Jackson.
“There have been many instances across the league and in Baltimore when a player has been designated with the franchise tag and signed a long-term deal that same year. 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,” wrote DeCosta.
If another team signs Jackson to an offer sheet, the Ravens will have the ability to match it as written. If they opt against matching the offer, Baltimore would receive that team’s next two first-round picks.
The Ravens left themselves some flexibility by utilizing the non-exclusive tag on Jackson, but as DeCosta said in his statement, the underlying goal is to keep the star quarterback in Baltimore and "build a championship team."
If a new deal between the two sides is not reached, and no external offers for the quarterback come forth, Jackson would be in line to make $32.41 million in the 2023 NFL season.
