Ravens Met With Lamar Jackson For Negotiations But Tag Still Expected Tuesday

Tom Pelissero reports that Ravens GM Eric DeCosta met with QB Lamar Jackson in Miami, but added that the two sides are still apart on a deal and Jackson will likely be franchise tagged on Tuesday.

The franchise tag deadline is Tuesday, which means we will be know soon enough if the Ravens plan to use it on Jackson.

DeCosta said at the Combine he was “optimistic” a long-term deal will get done, but a report from ESPN indicated the Ravens continue to balk at guaranteeing the full deal, while all of Jackson’s counteroffers have been for fully-guaranteed deals in excess of Browns QB Deshaun Watson‘s five-year, $230 million deal. 

The Ravens are expected to place the franchise tag on Jackson to keep him under contract if they don’t somehow make tremendous progress on an extension, but that would not preclude them from trading him. If it becomes clear the two sides won’t bridge the gap in extension talks, the Ravens could be tempted to trade Jackson. 

Baltimore could tag Jackson again next year at 120 percent of his number in 2023. A third tag would theoretically be available for the Ravens to use in 2025 but it would cost 144 percent of the 2024 number, which could be more than $70 million. No team has ever used a third tag because it’s so cost-prohibitive.  

Jackson, 26, is a former first-round pick of the Ravens back in 2018. He just finished the fourth year of his four-year, $9,471,652 contract that included a $5,968,472 signing bonus.

The Ravens picked up Jackson’s fifth-year option that will cost them $23 million fully guaranteed for the 2022 season, but won’t prevent them from working on an extension. He’s due to be an unrestricted free agent in 2023. 

In 2022, Jackson appeared in 12 games for the Ravens and completed 62.3 percent of his passes for 2,242 yards, 17 touchdowns, and seven interceptions. He also rushed for 764 yards and three touchdowns.

We’ll have more on Jackson as the news is available.