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The Baltimore Ravens used a non-exclusive franchise tag on quarterback Lamar Jackson Tuesday, locking him under contract for at least one more year.
Franchise tags allow NFL teams to keep one player on their roster who is eligible for free agency if certain conditions are met.
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Because the Ravens used a non-exclusive franchise tag, Jackson remains free to negotiate contracts with other teams. But, the demand for the former MVP-winning quarterback appears to be low.
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Multiple teams, including the Atlanta Falcons, Washington Commanders and Carolina Panthers have indicated that they will not pursue Jackson.
Why pass on Jackson? According to Fox Sports, Jackson is seeking a contract of around $230 million, fully guaranteed. Most NFL contracts are not fully guaranteed and are dependent on players staying healthy and playing games.
Jackson famously does not have a sports agent and has chosen to negotiate his contracts himself. Many people are speculating that this is making it more difficult for him to secure a deal.
Should Jackson sign a new contract, he will save money by not having to pay any agent fees. Typical NFL agents get about 3% of clients’ contracts, so for a $200-million contract, Jackson would have to pay an agent about $6 million.
While more than $200 million guaranteed sounds like a lot of money, Cleveland Browns quarterback Deshaun Watson signed a 5-year $230-million, fully-guaranteed contract in March of last year. So, it’s clear to see why Jackson thinks he is worth at least that much money, that’s just the going rate for premier quarterbacks in the league. In fact, earlier this week, New York Giants quarterback Daniel Jones signed a new contract worth about $40 million a year.
Image by Bruce Emmerling from Pixabay
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.