The NFL’s franchise tag deadline is Tuesday at 4 p.m. ET. Who will receive it this year? What will that mean for the free agent market? Here’s everything you need to know.
Which players have received the franchise tag?
Kansas City Chiefs OL Trey Smith
Cincinnati Bengals WR Tee Higgins
The Dallas Cowboys, meanwhile, worked out a four-year, $80 million deal with defensive tackle Osa Odighizuwa, who reportedly would have been place on the tag if a deal couldn’t be reached.
What is the NFL franchise tag?
The franchise tag is a designation NFL teams may use to retain one player set to be an unrestricted free agent and sign them to a set contract for another year. There are exclusive and non-exclusive tags, as well as transition tags.
Exclusive tags mean the contract must be no less than either the average of the top five salaries at that player’s position or 120% of the player’s salary the previous season, whichever is greater. It also means the player is not allowed to negotiate with other teams and may not sign with another team should they reject the offer.
Non-exclusive tags mean the contract must be no less than either the average of the top five cap hits at that player’s position or 120% of the player’s salary the previous season, whichever is greater. Unlike the exclusive tag, however, the player is allowed to negotiate with other teams, and if he receives an offer, his current team has the chance to match. If the team chooses not to match, it’s entitled to receive draft compensation equivalent to two first-round draft picks from the signing team.
Transition tags are another designation NFL teams may use to retain one player set to be an unrestricted free agent and sign him to a set contract for another year. The contract must be no less than the average of the top 10 salaries at the player’s position, and there is no guaranteed compensation. Also, players are allowed to negotiate with other teams.
What are the NFL franchise tag positional values for 2024?
Quarterback:…
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