Joe Flacco’s agent, Joe Linta, told Pro Football Talk that negotiations between his client and the Baltimore Ravens would commence next week in conjunction with the NFL Scouting Combine in Indianapolis.

There were rumors that negotiations would begin this week, but Linta told Pro Football Talk that nothing is scheduled yet. Sides have been holding their own negotiations through the media, but it is clear there is mutual interest in a deal being reached.

However, it’s not yet clear what that deal will look like. The Ravens have several options in the case of Flacco. They can re-sign him to a long-term contract extension, they can use the exclusive franchise tag on him, or they can use the non-exclusive franchise tag on him.

If they elect to avoid the long-term deal and kick the can down the road, Flacco would earn $14.6 million with the non-exclusive tag to the $20 million he would receive under the exclusive. Using the non-exclusive tag would also expose Flacco to an offer from another team.

However, either of these options would result in a large cap hit, something the Ravens are likely to try and avoid considering they are already up against it when it comes to player salaries for 2013.