"We've had some discussions, but we will franchise Justin if we do not get a deal done," general manager Ozzie Newsome said at the NFL combine Wednesday.
The deadline to use the tag is March 1, and putting that designation on Tucker would keep him from reaching free agency. Tucker, the second-most accurate kicker in NFL history, would receive a projected $4.5 million this season under the tag.
The Ravens' only other option for the tag was offensive tackle Kelechi Osemele. But the Ravens don't have the cap room to use the tag on Osemele because the projected franchise tender for offensive linemen is $13.7 million.
Baltimore can still get a long-term deal with Tucker, and the Ravens have a history of using the tag to extend negotiations. The last four players tagged by Baltimore have all signed long-term deals after receiving the tag. They are cornerback Chris McAlister, linebacker Terrell Suggs, defensive tackle Haloti Ngata and running back Ray Rice.
"Even if we do franchise him, we will continue to work to negotiate to try to get a deal done," Newsome said.
In other Ravens news, Suggs and wide receiver Steve Smith are both "progressing well" after suffering season-ending Achilles injuries in 2015, Newsome said. Newsome spoke with Suggs last week, and he received an update on Smith from Dr. Robert Anderson.
Newsome said, "I fully anticipate that by the time we play our first regular-season game, they'll both be ready to go."