Lamar Jackson franchise tags, explained: What exclusive vs. non-exclusive would mean for Ravens

Teams around the NFL are holding their breath as they await the Ravens’ upcoming decision on Lamar Jackson.

Jackson is expected to be given a free hand after the sides failed to agree on an extension to keep him in Baltimore after the 2022 NFL season. While not all teams will bid on Jackson, his future will drastically change the league in 2023 as he could improve any number of teams – and be a major blow to Baltimore’s Super Bowl chances should he depart.

If the Ravens can’t agree to an extension with Jackson, it’s likely they will assign him a franchise tag. The tag can be applied as early as February 21st and must be applied before March 7th at 4pm ET. The tag would by no means guarantee Jackson will line up again for Baltimore, many players have forced trades after being tagged, but it would allow the Ravens to have until mid-summer to complete an overtime.

There are many different factors to consider in the Ravens’ decision to tag Jackson, including cost and the type of tag used. Here’s what you need to know about the Baltimore debate.

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What exclusive vs. non-exclusive franchise tags mean for Ravens

The first piece of the puzzle is cost.

If the Ravens want to apply the non-exclusive label to Jackson, they would pay him $32,416,000 in 2023.

However, the exclusive label would be considerably more. While that figure won’t be officially announced until the end of restricted agency in April, it’s expected to exceed $45 million.

How big is the price difference?

The non-exclusive tag would be the 10th biggest cap hit in the NFL, according to Spotrac.

However, the exclusive tag would put him fourth in the NFL, behind only Deshaun Watson ($54.993 million), Dak Prescott ($49.13 million) and Patrick Mahomes ($46,793,381).

And there are perks for both tags. While the nonexclusive tag saves Baltimore more money, it also puts them at risk of losing Jackson for just two first-round picks. Jackson would be able to negotiate and agree to a deal with another team, and the Ravens would have to match the offer to keep him.

If a team with tons of long-term cap space wants to sign him for a massive deal that the Ravens can’t participate in, Jackson could sign the deal and the Ravens would only get two first-round picks from the other team.

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The exclusive tag would be more expensive, but it brings total control of Jackson’s future to the Baltimore front office. Jackson would be unable to negotiate with other teams and could only play for another team if the Ravens traded him away.

His only power would be to last the entire season and not sign the day, which could make the Ravens decide to postpone it. A trade from Jackson would almost guarantee getting more than two first-round picks.

Ravens limit the space

In order to keep Jackson as one of the highest paid players in the NFL and make other necessary improvements, some adjustments need to be made.

Over the Cap reports that the Ravens have just over $24 million in cap space as of Feb. 18. Since a Franchise Tag would count in full toward the cap, either the exclusive or non-exclusive tag would count in full toward the cap. On a non-exclusive tag, Jackson would put the Ravens a little over $8 million over the cap. The non-exclusive label would get them around $21 million over the cap.

In order for the Ravens to not only keep Jackson, but also add some necessary weapons to his reception room, the Ravens would have to cut players and/or restructure contracts to make some space. Two players – Kevin Zeitler and Calais Campbell – could each free up about $7 million if either one were cut, per Spotrac, while other players like Chuck Clark, Devin Duvernary or Gus Edwards could each free up about $4 million if they were shortened. These are all key contributors whose absence would be felt if they had to be fired from Baltimore.

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Freeing up enough cash to keep Jackson at this hefty price tag could be a tall order. Doing that and adding quality wide receivers off the draft could be next to impossible for the Ravens.

Lamar Jackson renewal talks

To this point, Jackson has refused attempts by the Ravens to extend him and keep him in Baltimore, further adding to doubts about his return.

ESPN reported back in September that he turned down a five-year extension worth more than $250 million with a $133 million guarantee. The report noted that Jackson is looking for a deal similar to the one Deshaun Watson signed with the Browns, which got him $230 million over five years but with all the money guaranteed.

As the Ravens’ offseason began, general manager Eric DeCosta said the team still hopes to renew the 2019 NFL MVP.

“It sure takes two to tango, but I think Lamar and I have a great relationship,” DeCosta said. “I said to Lamar, ‘This thing has been a drain on both of us.’ But when it’s over we’ll all feel like a million bucks.”

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Determining the right price tag could be a challenge for both parties. Watson’s contract was largely seen as an outlier, as it set the record for most guaranteed money in a deal. When Russell Wilson and Kyler Murray signed renewals, they were only guaranteed $124 million and $103.3 million, respectively, despite receiving bids totaling over $230 million each.

Few would disagree that when Jackson is on the field he is anywhere near one of the league’s most dynamic talents. He is one of only five players in NFL history with at least 10,000 passing yards and more than 4,400 rushing yards per stathead. He and Cam Newton are also the only players in NFL history with three seasons of at least 2,500 passing yards and 700 rushing yards.

But health has become an issue for Jackson. He has played 12 games in the last two seasons. In both campaigns, the Ravens were ranked number one in the AFC North on his last outing. Both times, the Bengals passed them in Jackson’s absence. Jackson also failed to play in the Ravens’ 24-17 wildcard loss to Cincinnati in 2023.

“I do not assume that [his injuries] to be any trend,” coach John Harbaugh told the Ravens. “I don’t think Lamar is a guy who’s going to have these problems going forward. Lamar is a very durable player. I know people might have trouble with that, I get it. But I don’t think there will be a problem in the future because I know how hard he’s going to work.”