Jackson, who is in the final year of his contract before becoming an unrestricted free agent next offseason, told reporters Wednesday (September 7) that the deadline to negotiate was quickly approaching before later specifying that the Ravens had until Friday to reach a new deal, according to the Athletic's Jeff Zrebiec.
Jackson joined the Ravens' offseason workouts in June when players were scheduled to take physicals prior to mandatory minicamp after having previously missed voluntary workouts ahead of his fifth NFL season.
The former NFL MVP will earn a base salary of $23,016,000 while carrying a cap hit of $23,016,000 and a dead cap value of $23,016,000 before becoming an unrestricted free agent next offseason.
Baltimore has repeatedly expressed public interest in re-signing Jackson to a long-term contract and the quarterback denied reports that he was considering leaving the team as the two sides hadn't yet reached an agreement on a long-term extension in March.
"I love my Ravens," Jackson posted on his verified Twitter account. "I don't know who the hell (is) putting that false narrative out that I'm having thoughts about leaving. Stop tryna [sic] read my mind."
Team owner Steve Bisciotti addressed Jackson's contract status amid news of Harbaugh's recent extension in March, claiming the franchise quarterback's situation was "unique as hell."
"The kid is so obsessed with winning a Super Bowl, that I think deep down, he doesn't think he's worthy," Bisciotti said while addressing reporters for the first time in four years via ESPN. "I think he wants that to say, 'Now, I deserve to be on top.' People can speculate any way they want. I don't think he is turned on by money that much and he knows it's coming one way or the other."
Jackson was selected by the Ravens at No. 32 overall in the first round of the 2018 NFL Draft and quickly emerged as the team's franchise quarterback.
The former Heisman Trophy winner won the NFL Most Valuable Player, led the NFL in passing touchdowns, and was a first-team All-Pro in 2019, his second NFL season.
Jackson also set NFL single-season records for rushing yards by a quarterback (1,206) and rushing attempts by a quarterback (176) that same year, while also becoming the first quarterback to record more than 1,000 rushing yards twice (2019, 2019) and tying former Pittsburgh Steelers quarterback Ben Roethlisberger for the most games with a perfect passer rating in the same season (2) in 2019.