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The Ravens sent notice to the NFLPA that they placed the non-exclusive franchise tag on Lamar Jackson.

"Having not yet reached a long-term deal with Lamar Jackson, we will use the franchise tag," Ravens general manager Eric DeCosta stated. "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.

"Our ultimate goal is to build a championship team with Lamar Jackson leading the way for many years to come."

Jackson 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.

The non-exclusive tag comes with a 2023 salary of $32.5 million, which is about 13 million less than the exclusive tag would cost. That means the Ravens would not have to clear as much cap space before free agency opens on March 15.

However, it would mean that Jackson can negotiate with other teams. If he agreed to a long-term deal with another club, the Ravens would have the opportunity to match that offer sheet. If they choose not to, the Ravens would get that team's next two first-round picks.

If Jackson is unable to strike a deal with another team, he would remain with the Ravens for another year upon signing the tag.

The other possibility is Jackson signs the tag and is traded, though DeCosta has said that has not been a factor for him.

Just because the Ravens have applied the franchise tag doesn't mean negotiations on a long-term contract are finished. The two sides have until July 17 to negotiate and complete a deal before Jackson would have to be on the tag for 2023, once signed. He would then be set for free agency again next season, though the Ravens could apply the franchise tag again.

The Ravens have a long history of tagging players and getting a deal done at a later date. They have done so with five of their previous seven franchise tagged players.

That said, the Ravens and Jackson have been working to hammer out a deal for the past two years. The NFL Network's Tom Pelissero reported Monday morning that Jackson and DeCosta met recently in Jackson's hometown Miami area. DeCosta said at the Combine that the franchise tag would not stop negotiations.

"By us franchising Lamar, that doesn't exclude us from getting a long-term deal done. That's been done 1,000 times in the league," DeCosta said at the Combine. "Yes, there is a timeframe, but the timeframe does move - albeit there are some different dynamics involved. I don't want to live in a world where there is no optimism, where I'm just going to give up hope."

Still, all indications are Jackson -- who has vowed not to speak publicly about his contract since the start of the 2022 regular season -- wants a fully guaranteed deal in line with the five-year, $230 million contract the Cleveland Browns gave Deshaun Watson in March.

The Ravens, meanwhile, are balking at guaranteeing the full amount.

Jackson reportedly turned down a five-year, $250 million contract in September that included $133 million guaranteed -- far less than Watson's deal, but more than the guaranteed figures awarded to Russell Wilson ($124 million) and Kyler Murray ($103.3 million) last offseason.

In fact, a source with knowledge of Jackson's contract negotiations tells ESPN's Jeremy Fowler that all of Jackson's counteroffers to the Ravens last year were for fully guaranteed contracts that exceeded that of Watson, who signed his deal with the Browns after being traded from the Houston Texans and before serving an 11-game suspension for violating the NFL's personal conduct policy.

If there is no compromise, Fowler contends the possibility of the Ravens trading Jackson has never been more likely.

Profootballtalk.com's Mike Florio agreed, noting if the Ravens had put the exclusive tag on Jackson, it would have guaranteed him a salary of $45 million for the 2023 season and would have prevented other teams from signing him.

Florio added: "For all the Ravens' talk that they are 200 percent committed to bringing Jackson back, the reality of giving him the non-exclusive tag is that there's a real chance he won't remain in Baltimore.

"Jackson is about to hit the open market, and he may be playing elsewhere this year."

ESPN's Adam Schefter put it like this: "The market is about to mediate Baltimore and Jackson's differences."

Who might be interested?

We'll find that out soon enough. But ESPN's Dianna Russini reports the Falcons will not be pursuing Jackson.

Whatever the case, the offseason just got more interesting. Stay tuned.