Jackson, 26, represented himself in negotiations. Talks geared towards a long-term deal were launched more than a year ago, general manager Eric DeCosta said.

Jackson missed the final five games of the 2022 regular season, plus the wild-card playoff loss at Cincinnati, with a knee sprain. He did not travel with the Ravens for the game against the Bengals, sparking speculation he was ready to move on in the offseason.

The Ravens placed the $32.41m non-exclusive franchise tag on Jackson at the deadline in early March. Under the terms of the tag, Jackson was free to talk to other teams who could have made an offer sheet; if the Ravens then chose not to match the offer sheet, they would command two first-round picks in exchange for Ravens.

Baltimore signed free agent wide receiver Odell Beckham Jr. this month, who said he hoped to catch passes from Jackson but was given no assurances that the quarterback would be his team-mate.

In 12 games last season, Jackson threw for 2,242 yards with 17 touchdowns and seven interceptions. He also led the Ravens in rushing with 764 yards and three touchdowns.

Jackson has played in 70 games (61 starts) since the Ravens selected him with the last pick of the first round in the 2018 NFL Draft. He has completed 63.7 per cent of his passes for 12,209 yards with 101 touchdowns and 38 interceptions. He has run for 4,437 yards and 24 scores.