OWINGS MILLS, Md. -- The Baltimore Ravens will apparently wait until Tuesday's deadline before placing the franchise tag on quarterback Lamar Jackson.

"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. "If not, we will put the franchise tag on him."

There have been two players to receive the franchise tag on Monday: Dallas Cowboys running back Tony Pollard and Jacksonville Jaguars tight end Evan Engram. Washington Commanders defensive tackle Daron Payne received the franchise tag last week.

But the Ravens will look to use all the available time to try to get a long-term deal done with Jackson before Tuesday's 4 p.m. ET deadline. The sides have been unable to reach an agreement after 25 months of negotiations. This would mark the first time in three years that Baltimore has used the franchise tag (linebacker Matthew Judon in 2020).

One of the biggest questions in the NFL this week is whether the Ravens will apply the exclusive or nonexclusive tag on Jackson. The exclusive tag, which is projected to cost $45 million, would allow Baltimore to control Jackson's contract rights in 2023 as well as any trade talks. The nonexclusive tag, which is less expensive at $32.416 million, would allow Jackson to speak to other teams and give the Ravens the right to match any offer sheet or take two first-round picks as compensation for losing Jackson.

At the NFL scouting combine on Wednesday, Ravens general manager Eric DeCosta said the team has long prepared for the contingency plans involving Jackson.

"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."