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Decision Made on Lamar Jackson's Future With the 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."