Source: Baltimore Ravens nearing extension with John Harbaugh

Why the Ravens have the best chance to turn things around next season (1:22)

Marcus Spears is optimistic about the Ravens' playoff chances next season after player absences decimated the team this season. (1:22)

OWINGS MILLS, Md. -- The Baltimore Ravens are nearing an extension with coach John Harbaugh, a source said Tuesday.

Team officials are currently in talks with Harbaugh's agent, and an extension should get completed in a few weeks, the source told ESPN.

Harbaugh, 59, is entering the final year of a four-year deal that he signed in January 2019.

He has led the Ravens to a playoff berth in nine of his 14 seasons and guided the franchise to its second Super Bowl title in 2012. His career record (including playoffs) of 148-96 (.607) ranks as the fifth-best winning percentage among active coaches with at least 90 games.

In 2019, Harbaugh became the first Ravens coach to win the Associated Press NFL Coach of the Year award.

Harbaugh was in the midst of one of his best coaching jobs this past season, helping the Ravens to the best record in the AFC at 8-3 in Week 12 despite eight starters on season-ending injured reserve. But Baltimore lost its last six games to finish 8-9, which is just the second losing record under Harbaugh.

Both of Harbaugh's losing seasons came when his starting quarterbacks (Joe Flacco and Lamar Jackson) missed a combined 11 games.

When Ravens owner Steve Bisciotti hired Harbaugh in 2008, he was considered an unconventional coach because he had primarily been a special teams coordinator with the Philadelphia Eagles. Harbaugh now is the NFL's third-longest tenured coach, behind only New England's Bill Belichick (2000) and Pittsburgh's Mike Tomlin (2007).

Harbaugh has built a reputation for being aggressive, whether it's going for it on fourth downs or choosing to win games in the final minute with two-point conversions. He's also gone outside the box to tailor an offense around a dual-threat quarterback like Jackson, which led to three straight playoff seasons in 2018, 2019 and 2020.

This will mark Harbaugh's sixth contract extension with Baltimore, which has become one of the most stable teams in the league. The Ravens have only had three head coaches in their 26-year history: Ted Marchibroda, Brian Billick and Harbaugh.

After Harbaugh is signed, the Ravens' next priority is Jackson's contract. The 2019 NFL MVP is entering his fifth-year option, which is the final year he's under contract with the Ravens.