The Baltimore Ravens failed to reach a contract extension with their quarterback (QB) Lamar Jackson, the team announced on Friday.

"Despite best efforts on both sides, we were unable to reach a contract extension with Lamar Jackson," Eric DeCosta, general manager of the Ravens, said in a statement. "We greatly appreciate how he has handled this process and we are excited about our team with Lamar leading the way. We will continue to work towards a long-term contract after the season, but for now we are looking forward to a successful 2022 campaign."

Jackson, as one of the NFL's few star players who doesn't have an hire an agent, set a deadline of the beginning of the 2022 regular season for him and the Ravens to reach an extension. He indicated on Wednesday that Friday will be the closing date.

"It was a pretty big risk last season. The year before," Jackson said. "I'm just playing football. Anything can happen. God forbid the wrong thing happens."

More than one QB signed lucrative extensions during the off season. Deshaun Watson inked a five-year, $230 million, fully-guaranteed deal with the Cleveland Browns. Kyler Murray and the Arizona Cardinals signed a five-year, $230.5 million extension. Russell Wilson reached a five-year, $245 million deal with the Denver Broncos.

Jackson, as the unanimous NFL Most Valuable Player and the First-Team All-Pro member in 2019 and a two-time Pro-Bowler, is unlikely to be paid less than any of the above QBs. Having played four seasons in the league, Jackson threw 852-for-1,329 for 9,967 yards and 84 touchdowns (TDs) with 31 interceptions. He only made 12 appearances for the Ravens last season due an ankle injury. The team was 7-5 when he was playing but missed the playoffs in the end.

"I'm confident that'll happen when it's time," Ravens head coach John Harbaugh said after Friday's team practice. "Lamar is going to be playing quarterback here for a long time. He and I talked about it yesterday like, 'Hey man, let's go be our best and go focus on football.' And that's what he's been doing all along. So I know nothing will change with that and we're just focused on Sunday."

The Ravens will play against the New York Jets at MetLife Stadium in East Rutherford, New Jersey in their first regular season game on Sunday.