The Baltimore Ravens have placed the non-exclusive franchise tag on quarterback Lamar Jackson, per Adam Schefter. He is allowed to negotiate with other teams, but the Ravens have the right to match any offer he signs or take two first-round picks for Jackson.

The non-exclusive quarterback tag is set at $32.4 million. Jackson is seeking a deal like Deshaun Watson’s (five-year, $230 million, fully guarenteed). The deadline for a long-term extension is July 17.

More information to come.