The NFL franchise tag deadline has passed, setting the stage for a flurry of moves across the league. Teams had until 4 p.m. ET to designate their franchise players, ensuring key players remain with their current teams for at least another year. This year, several notable players received the franchise tag, locking them in with their respective teams for the upcoming season.
Among the players who received the franchise tag are Tee Higgins, a wide receiver for the Cincinnati Bengals, L’Jarius Sneed, a cornerback for the Kansas City Chiefs, Brian Burns, an edge rusher for the Carolina Panthers, Justin Madubuike, a defensive tackle for the Baltimore Ravens, Antoine Winfield, a safety for the Tampa Bay Buccaneers, Josh Allen, an edge rusher for the Jacksonville Jaguars, Jaylon Johnson, a cornerback for the Chicago Bears, and Michael Pittman, a wide receiver for the Indianapolis Colts.
The franchise tag is a mechanism that allows NFL teams to retain one player scheduled to become an unrestricted free agent and sign them to a predetermined contract for the following season. There are two types of franchise tags: exclusive and non-exclusive. Exclusive tags require a contract no less than the average of the top five salaries at the player’s position, while non-exclusive tags necessitate a contract no less than the average of the top five cap hits at the player’s position.
Each position in the NFL has a corresponding value for the franchise tag in 2024, ranging from quarterback at $38.301 million to punter/kicker at $5.984 million.
Apart from the franchise tag, teams can also use the transition tag to retain one player set to be an unrestricted free agent. This tag allows players to negotiate with other teams while ensuring the current team has the opportunity to match any offer.
As the NFL offseason progresses, more moves are expected to shape the landscape of the league for the upcoming season. With key players locked in and negotiations ongoing, the strategic use of franchise and transition tags will have a significant impact on teams’ rosters and aspirations for the next campaign.