Lamar Jackson Rumors: Ravens' 'Best' Contract Offer on Table; Deal 'Not Close'

The Baltimore Ravens remain "hopeful" on signing star quarterback Lamar Jackson to a long-term extension before the franchise-tag deadline on Tuesday, per Josina Anderson of CBS Sports.

However, a deal between the two sides is still "not close," Anderson added:

"I'm told that both sides are still not close to getting a deal done. And also, my league sources have the impression that, at least as of right now, the Ravens have their best offer on the table. However, I was just told even before coming on this stage, the context to that is that it is still pending, getting more feedback from Lamar's side on their latest proposal.

"In addition to that, the other information that I have is that they've heard from several teams that have tapped in, obviously expressing preliminary interest on gathering more information with the potential trade, and that is to be expected as there are multiple teams that have quarterback questions out there."

Jackson is believed to be searching for a fully guaranteed contract, similar to the five-year, $230 million deal Deshaun Watson signed with the Cleveland Browns last season. ESPN's Jamison Hensley reported March 1 that Baltimore has "been reluctant to offer that because they believe Watson's deal is more of an outlier than a precedent."

However, ESPN's Stephen A. Smith reported last month on First Take that he had been connected with Jackson's camp, which assured him that the veteran was not seeking a fully guaranteed deal.

If Jackson and the Ravens can't come to terms on an agreement, Baltimore is expected to place the franchise tag on the 2019 MVP. However, ESPN's Adam Schefter reported on SportsCenter Friday that the Ravens were still debating on whether to use the exclusive or non-exclusive tag.

The exclusive tag, which is projected to be worth $45.25 million, prevents other teams from negotiating with Jackson. The non-exclusive tag, worth $32.4 million, allows Jackson to negotiate with other teams, though the Ravens would have the opportunity to match any offer he might receive.

The Ravens have been vocal about wanting to keep Jackson in Baltimore, and general manager Eric DeCosta admitted at the NFL Scouting Combine in Indianapolis this week that not having the veteran locked up has been "a wrench" in the team's plans.

"You don't know. It slows you up a little bit. It does kind of create a little bit of a haze as to what the future is going to look like with your roster," he said, per Sports Illustrated's Adam Schultz. "There are some things that we're not going to do right now that maybe we would try to do [if the deal were done]."

Jackson has served as Baltimore's starting quarterback since being selected in the first round of the 2018 draft. The two-time Pro Bowler is coming off a 2022 campaign in which he threw for 2,242 yards, 17 touchdowns and seven interceptions in 12 games, in addition to rushing for 764 yards and three scores.

The 26-year-old is due for a significant extension, whether it be with the Ravens or another franchise.