Ravens reveal talks with QB Lamar Jackson are set to go to the wire with Baltimore prepared to wait up until Tuesday's deadline before placing its franchise tag on the 26-year-old Jackson will become a free agent if the Ravens don't use its franchise tag on him The 26-year-old quarterback is believe to want a new deal around $230million Click here for all your latest international sports news from DailyMail. com By Alastair Talbot For Dailymail. Com Published: 23:18, 6 March 2023 | Updated: 23:18, 6 March 2023 e-mail View comments The Baltimore Ravens are reportedly set to wait until Tuesday's deadline before using its franchise tag on its star quarterback Lamar Jackson, 25 months since the start of talks over a new deal with the player. 'Today and up until 3:30 tomorrow, a lot of energy will be utilized in trying to get a deal done,' Ravens executive vice president Ozzie Newsome told 'The Bernie Kosar Show' on Monday, which marked the last day of this year's NFL Combine. 'If not, we will put the franchise tag on him. ' Time is running out for Baltimore's front office to try to convince Jackson to agree to fresh contractual terms, with the 26-year-old's fifth-year option already being used last year and with free agency looming this offseason. Unlike most NFL players, Jackson has never had an agent represent him in contract discussions since he's been drafted in 2018 and is believed to only be interested in resigning with the Ravens if he's offered a deal in the region of $230million , which would make him one of the highest-paid players in the NFL. Ravens QB Lamar Jackson is set to receive Baltimore's franchise tag before Tuesday's deadline Ravens exec. vice president Ozzie Newsome spoke of the team's plans for its star QB Tuesday The exclusive tag, which is expected to cost $45million, would give Baltimore room to manage Jackson's contract rights in 2023 and shut down potential trade talks. The Ravens could alternatively go for a cheaper option - the nonexclusive tag, which costs $32. 416million. However, it would allow Jackson to hold talks with other teams and give the Ravens the opportunity to match any offer sheet or take two first-round picks as compensation for losing Jackson. At the NFL combine last week, Ravens general manager Eric DeCosta said the team was well prepared in dealing with the two-time Pro-Bowler's future since the team was beaten by the Bengals in last season's Wild Card Round, 17-24 . 'It's not like we didn't know we might be in this position,' DeCosta said. 'Last year at this time, we talked about it, so we've had a full year to really discuss all the different plans. We'll make the right decision. ' On Monday, two players received the franchise tag: Dallas Cowboys running back Tony Pollard and Jacksonville Jaguars tight end Evan Engram. Defensive tackle Daron Payne, of the Washington Commanders, was designated under the franchise tag last week. Jackson & the Ravens were beaten by the Bengals in the NFL Wild Card Round of the playoffs Share or comment on this article: Ravens say talks with Lamar Jackson to go to deadline before using franchise tag e-mail Add comment Comments 0 Share what you think No comments have so far been submitted. Why not be the first to send us your thoughts, or debate this issue live on our message boards. Add your comment Enter your comment By posting your comment you agree to our house rules . Submit Comment Clear Close Do you want to automatically post your MailOnline comments to your Facebook Timeline? Your comment will be posted to MailOnline as usual. No Yes Close Do you want to automatically post your MailOnline comments to your Facebook Timeline? Your comment will be posted to MailOnline as usual We will automatically post your comment and a link to the news story to your Facebook timeline at the same time it is posted on MailOnline. To do this we will link your MailOnline account with your Facebook account. We’ll ask you to confirm this for your first post to Facebook. You can choose on each post whether you would like it to be posted to Facebook. Your details from Facebook will be used to provide you with tailored content, marketing and ads in line with our Privacy Policy . .