Lamar Jackson received the news many were expecting on Tuesday afternoon.

With the star quarterback still trying to work out a long-term deal with the Baltimore Ravens, the team placed the franchise tag on Jackson. According to ESPN’s Kimberley A. Martin, Baltimore has opted for the non-exclusive franchise tag that checks in at $32 million if Jackson plays on the tag in the 2023 season.

Baltimore GM Eric DeCosta reacted to the news with a statement, saying the two sides are still working toward a long-term deal:

“Having not yet reached a long-term deal with Lamar Jackson, we will use the franchise tag,” said DeCosta. “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 same 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.”

Jackson has been limited to 24 games across the past two seasons. However, he remains an NFL MVP entering his age-26 season with a 45-16 career record as a starter.

Paul’s take on the situation

As many have pointed out, the non-exclusive tag for Jackson provides both parties with options. Jackson has the opportunity to negotiate a contract with other teams while the Ravens will still have a final decision to make if Jackson finds the deal he is looking for.

If Jackson finds a suitor willing to offer a massive contract, Baltimore maintains the power to match any contract. Or, the Ravens can receive a pair of first-round picks if they decide to let him walk.

Considering the state of the NFL and teams hungry for a QB, it is hard to envision Jackson does not find at least one team in need willing to pay the premium price he’s asking for. We’ll see if Baltimore is willing to match his eventual cost when the time comes.