Decision Made On Lamar Jackson's Future With Ravens

The Baltimore Ravens have placed a $32.4 million non-exclusive franchise tag on quarterback Lamar Jackson, which will allow him to negotiate with other teams, while giving the team options to either match or except a trade deal, ESPN's Adam Schefter reports.

"Ravens sent notice to the NFLPA that they placed the $32.41 million non-exclusive franchise tag on QB Lamar Jackson. He now is allowed to negotiate with other teams, but Ravens have right to match any offer sheet he signs or take two first-round picks in return for him," Schefter tweeted.

The Ravens had until 4:00 p.m. ET on Tuesday (March 7) to notify the league about its franchise tag decision. The franchise confirmed its decision on its official Twitter account Tuesday afternoon and general manager Eric DeCosta issued a statement in response to the move.

"Having not yet reached a long-term deal with Lamar Jackson, we will use the franchise tag," DeCosta said. "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 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. Our ultimate goal is to build a championship team with Lamar Jackson leading the way for many years to come."

Jackson, a former NFL MVP and Rookie of the Year, led Baltimore to an 8-4 record, which included throwing for 2,242 yards, 17 touchdowns and seven interceptions on 203 of 326 passing, while also recording a team best 764 rushing yards and four rushing touchdowns on 112 attempts, prior to suffering a season-ending PCL injury. The Ravens ranked ninth among all 32 NFL teams with an average of 23.1 points per game during Jackson's 12 starts, but dropped to 13.0 points per game, the second fewest in the league, while going 2-3 in his absence during their final five games of the regular-season.

The Ravens reportedly offered Jackson a rejected deal worth $113 million in guarantees that would have "eventually raised" to a total of $113 million, a source with knowledge of the situation told ESPN's Ryan Clark earlier this month.