Ravens unable to reach contract extension with Lamar Jackson
BALTIMORE (CBS/AP) -- The Baltimore Ravens were unable to reach a contract extension with Lamar Jackson by Friday, his Week 1 deadline, executive vice president and general manager Eric DeCosta said.
"Despite best efforts on both sides, we were unable to reach a contract extension with Lamar Jackson," DeCosta said in a statement. "We greatly appreciate how he has handled this process and we are excited about our team with Lamar leading the way. We will continue to work towards a long-term contract after the season, but for now we are looking forward to a successful 2022 campaign."
The franchise quarterback is entering the fifth and final year of his rookie deal, coming back from a bone bruise in his ankle that effectively cost Jackson the final five games of the season.
"Those things will work themselves out in the end. I'm confident in that," Ravens coach John Harbaugh said at the team's practice facility in Owings Mills, Maryland. "I said at the beginning that it will happen when it's time, and when it's time, it will happen. So, Lamar is playing quarterback, he's going to be playing quarterback here for a long time."
The absence of a contract doesn't mean Jackson will be donning a new uniform in 2023.
Between Feb. 21 and March 7, the Ravens can place the franchise tag on Jackson before the start of the next league year, effectively extending the window to negotiate a multi-year extension. If no deal is reached by the summer, the player can sign a one-year contract with his current club; this year, the deadline was July 15 at 4 p.m.
A non-exclusive franchise tag is worth the average of the top five salaries at a position over the last five years, or 120 percent of the player's previous salary, whichever is greater, according to NFL.com. A player has the right to negotiate with other teams, and his current team can match that deal or refuse it and receive two first-round picks.
An exclusive franchise tag is worth the average of the top five salaries at a position in the current year, and players who receive the tag cannot negotiate with other teams.
Teams can also use the transition tag, which is the average of the top 10 salaries at a position. But players can still negotiate with other teams. A player's current team has the right of first refusal to match any contract offer, but it does not receive compensation for letting the player sign elsewhere.
In 2022, the franchise tag player figure for quarterbacks was $29.703 million and the transition tag figure was $27.186 million, according to an article on NFL.com.
On Wednesday, Jackson said he didn't see any risk in heading into the 2022 season without a new deal done.
"I'm just playing football, anything can happen," he said. "But God forbid the wrong thing happens -- I'm keeping God first and just playing ball, like I've been doing."
