Franchise Tag Deadline Approaches: What to Expect
With the NFL’s franchise tag deadline set for Tuesday at 4 p.m. ET, the league is abuzz with speculation and last-minute negotiations. This crucial deadline determines which players will receive the franchise tag, a strategic tool teams use to retain their best talent. As of now, several notable players have been tagged, while others are on the cusp of receiving the designation. Here are the key players and what it means for the free agent market.
Players Receiving the Franchise Tag
The Kansas City Chiefs have placed the franchise tag on offensive lineman Trey Smith, ensuring his return for another season. Similarly, the Cincinnati Bengals have tagged wide receiver Tee Higgins, a move that comes as no surprise given his importance to the team. Meanwhile, the Dallas Cowboys are reportedly considering using the franchise tag on defensive tackle Osa Odighizuwa if a long-term deal can’t be finalized by the deadline.
Understanding the NFL Franchise Tag
The franchise tag is a mechanism that allows NFL teams to retain one player who would otherwise become an unrestricted free agent by signing them to a one-year contract. There are three types of tags: exclusive, non-exclusive, and transition.
- Exclusive Tag: This tag guarantees the player a salary no less than either the average of the top five salaries at that position or 120% of their previous season’s salary, whichever is higher. The player is not allowed to negotiate with other teams and must sign with the tagging team or become a free agent with no compensation to the original team.
- Non-Exclusive Tag: Similar to the exclusive tag, this designation also offers a salary no less than the average of the top five cap hits at the player’s position or 120% of their previous salary. However, the player can negotiate with other teams, and the original team has the right to match any offer. If they choose not to match, the original team receives two first-round draft picks as compensation.
- Transition Tag: This tag also ensures a one-year contract, but the salary is based on the average of the top 10 salaries at the player’s position. Players can negotiate with other teams, but the original team has the right to match any offer. There is no compensation if the team chooses not to match.
NFL Franchise Tag Positional Values for 2024
The salary cap values for each position under the franchise tag for the 2024 season are substantial and reflect the market value for top-tier players. Here are the key figures:
- Quarterback: $40.242 million
- Running Back: $13.64 million
- Wide Receiver: $23.959 million
- Tight End: $13.826 million
- Offensive Line: $23.4 million
- Defensive End: $22.0625 million
- Defensive Tackle: $25.12 million
- Linebacker: $25.45 million
- Cornerback: $20.187 million
- Safety: $18.601 million
- Punter/Kicker: $6.313 million
Recent Updates and Team Moves
The Cincinnati Bengals have officially tagged wide receiver Tee Higgins for the second consecutive year, a move that underscores the team’s commitment to retaining their top talent. Meanwhile, the Philadelphia Eagles have released veteran cornerback Darius Slay, a six-time Pro Bowl selection, to free up cap space. Slay, who plans to retire after the 2025 season, had no interceptions last season and recorded 49 tackles, three tackles for loss, 14 pass break-ups, and one forced fumble.
Los Angeles Rams head coach Sean McVay addressed the potential trade of star wide receiver Cooper Kupp, calling it the "hardest decision" he’s had to make as a coach. Kupp, who has spent his entire career with the Rams, expressed his disappointment with the move, stating, "I don’t agree with the decision and always believed it was going to begin and end in LA." Despite the emotional toll, McVay emphasized that the decision was made in the best interest of the team.
Matthew Stafford and the Rams’ Future
In a significant development, Matthew Stafford has agreed to stay with the Los Angeles Rams under a restructured version of his current deal. Head coach Sean McVay provided details during a press conference, revealing that Stafford’s new terms would be part of his existing extension, signed in 2022. The deal, which runs through 2026, will likely see adjustments to the cap hits of $49.7 million and $53.7 million for the next two seasons. McVay expressed optimism about the future, stating, "I’ve been sleeping better these last couple of days" since Stafford agreed to stay.
Free Agency and Contract Extensions
Free agency is heating up, with several key players set to hit the market. Among the top free agents, offensive tackle Ronnie Stanley stands out as the most sought-after, especially after starting all 17 games for the Baltimore Ravens last season. The Ravens, however, are projected to be $10.4 million under the salary cap, making a long-term deal with Stanley challenging. The possibility of using the franchise tag remains, but it would guarantee Stanley a one-year salary of $25.2 million.
In Dallas, the Cowboys have initiated extension talks with star linebacker Micah Parsons, who is signed for one more season after the team picked up his fifth-year option for $21.32 million. The goal is to secure Parsons with a long-term contract extension before he becomes a free agent. Teams in need of pass rushers, interior defensive linemen, and offensive linemen will find plenty of options, with the top 25 free agents poised to make significant impacts in the coming season.
As the deadline approaches, the next few days will be critical for negotiations and final decisions. Stay tuned for more updates on the franchise tag and free agency as the NFL landscape continues to evolve.
