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The Ravens assigned their franchise tag to Jackson (knee) on Tuesday.

In a statement released by the team, general manager Eric DeCosta noted that the Ravens plan to continue to negotiate with Jackson in hopes of reaching a long-term deal with the quarterback this offseason. Per Adam Schefter of ESPN, the $32.4 million franchise tag is non-exclusive, which means that the signal-caller can negotiate with other teams. The Ravens, however, retain the right to match any offer sheet Jackson signs, or alternatively accept two first-round draft picks as compensation.

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