Lamar Jackson takes the field for his first Ravens practice of offseason (0:42)

Lamar Jackson returned to practice for the first time this season after missing three weeks of voluntary workouts. There is a time and a place.

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On his first day back with the Baltimore Ravens, quarterback Lamar Jackson rolled to his right and threw a 30 yard pass to tight end Mark Andrews.

Jackson's contract situation is unprecedented and he is one of a kind. Despite the Ravens wanting to do so, he has yet to engage in negotiations on a multi-year extension. Jackson's contract is about to end.

Jackson was expected to attend the mandatory minicamp this week, but his timetable for signing a contract that will be one of the league's largest is still unknown.

In his first practice of the offseason, Lamar Jackson threw the ball well. Tight spirals, good velocity and tons of completions to Mark Andrews. Jackson, though, did get intercepted twice by Tony Jefferson.

— Jamison Hensley (@jamisonhensley) June 14, 2022

The highest average per-year deal for a quarterback has increased since Jackson was eligible for an extension. The highest total guaranteed money has gone up from 141.4 million to 231.2 million.

What do you do with a man who wants to be unique? The Ravens owner spoke at the league meetings. He doesn't have to be aconformist.

As we take him, we are taking him as well. He is appreciated by us. The front office and his teammates love him. We'll make it work if you keep doing Lamar.

The end result of this high-profile and unusual contract situation will have major ramifications and there are several options for how it can play out.

The Ravens sign Jackson to a new deal before his contract expires

Jackson can agree to an extension before the season, but there is not much hope for Baltimore. The sides can talk this week because Jackson is in the facility for the first time.

Three of the 20 quarterbacks drafted in the first round in the last five years signed extensions before their fifth season. The deal withNewton took 11 days to negotiate, according to Dave Gettleman.

After the season is when to look for a new deal. Three days before the deadline to use the franchise tag, the Baltimore Ravens made quarterback Joe Flacco the highest paid player in the league. There is a window for the tag. The Ravens may not want to pay the steep one-year price for the exclusive franchise tag and Jackson may not want to risk injury by playing on what would essentially be one-year deals.

Lamar Jackson, right, was back with the Ravens on Tuesday, and his return shifts the focus to his unique contract situation. Gail Burton

Baltimore puts franchise tag on Jackson, signs him to a long-term deal

The Ravens would have to use the franchise tag on Jackson if the sides can't agree on an extension by March 7.

The tag is rarely used by the Ravens. In the last 10 years, Baltimore has done it twice. It is very rare to see the tag on quarterbacks in the National Football League. In the last decade, there have been five times when a quarterback was given the tag. Cousins signed a landmark deal with the Minnesota Vikings after signing a long-term contract with the New Orleans Saints.

The Ravens have signed many players after applying the tag. The Ravens have long-term deals with five of their seven tagged players. After receiving the franchise tag, only two people signed elsewhere.

Jackson hits free agency in 2025 after playing under the franchise tag for two years

The model is called theCousins. He was the most coveted free agent in the last few years after playing for Washington under the franchise tag. At the time, he was the highest paid quarterback in the league, with a fully guaranteed three-year contract.

Jackson has a contract.

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After six seasons, he had 26 wins and one Pro Bowl. Imagine the market for Jackson, who has won 37 games in four seasons and was a unanimous league Most Valuable Player.

It would come with a risk. Jackson is a quarterback who depends on his mobility as much as his arm, so a devastating injury would hurt his value. Jackson has been hit more often than any other quarterback since he became the Ravens starting quarterback. Jackson missed the last four games of last season due to an ankle injury.

The quarterback's market value will be $60 million per season. Jackson pushed back the rumors that he might leave the franchise and go to free agency in 25 years.

Jackson said he loved his Ravens. I don't know who is telling me that I'm thinking about leaving. It's time to stop reading my mind.

The Ravens trade Jackson

This is not an option that the team has discussed. Ravens officials have been talking about Jackson for a long time.

If Baltimore tags Jackson next year, it will start the clock on the two-year waiting period before he can sign with another team. It is hard to believe that the Ravens would be content with getting a third-round pick in exchange for Jackson. The Denver Broncos traded two first-round picks and two second-rounds to the Seattle Seahawks in March to acquire Russell Wilson, so it's realistic to think Baltimore could get at least three first-round selections for Jackson.

Team officials have made it clear that trading Jackson is not on the agenda.

"He's a guy that when we think about the Ravens three, four, five years from now, we envision Lamar being a very, very big part of that team," DeCosta said.