The NFL Franchise Tag Deadline
The NFL’s franchise tag deadline is fast approaching, set for Tuesday at 4 p.m. ET. This critical date marks a pivotal moment in the free agent market, as teams decide which players to retain with the franchise tag. This designation allows teams to keep one unrestricted free agent for an additional year, often at a significant financial commitment. Who will receive the tag this year, and what will it mean for the free agent market? Here’s what you need to know.
Players Receiving the Franchise Tag
As of now, a few players have already been tagged for the 2024 season. The Kansas City Chiefs have placed the tag on offensive lineman Trey Smith, while the Cincinnati Bengals have done the same for wide receiver Tee Higgins. Meanwhile, the Dallas Cowboys are reportedly set to franchise defensive tackle Osa Odighizuwa if negotiations for a long-term deal fall through by the deadline. These decisions significantly impact the teams’ financial flexibility and the players’ future with their respective organizations.
Understanding the NFL Franchise Tag
The franchise tag is a strategic tool used by NFL teams to retain players who are set to become unrestricted free agents. There are three types of tags: exclusive, non-exclusive, and transition.
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Exclusive Tag: This tag ensures the player’s contract is no less than the average of the top five salaries at their position or 120% of their previous season’s salary, whichever is higher. The player cannot negotiate with other teams and cannot sign with another team if they reject the offer.
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Non-Exclusive Tag: Similar to the exclusive tag in terms of salary, but the player can negotiate with other teams. If an offer is made, the original team has the right to match. If they choose not to match, they receive two first-round draft picks as compensation.
- Transition Tag: The contract must be no less than the average of the top 10 salaries at the player’s position. There is no guaranteed compensation, and players can negotiate with other teams, but the original team has the right to match any offers.
2024 NFL Franchise Tag Positional Values
The financial implications of the franchise tag are substantial. Here are the 2024 positional values:
- 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
These figures provide a clear indication of the market value for players in various positions, influencing teams’ decisions on whom to tag.
Recent NFL Updates
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Vikings and Sam Darnold: The Minnesota Vikings are not expected to place the franchise tag on quarterback Sam Darnold. Despite a strong start to the 2024 season, Darnold’s performance declined towards the end, leading to questions about his future with the team. The Vikings remain open to negotiating a deal but will not use the franchise tag to retain him.
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Deebo Samuel’s Departure: The San Francisco 49ers have traded wide receiver Deebo Samuel to the Washington Commanders. In a post on X, Samuel clarified that there was "no bad blood" with the 49ers, emphasizing his appreciation for the organization. The trade, which netted the 49ers a fifth-round pick, helps them manage their salary cap.
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Saints’ New Addition: The New Orleans Saints are reportedly adding veteran coach Scott Linehan to their staff. With extensive experience as a head coach and offensive coordinator, Linehan is expected to bring a significant boost to the Saints’ offense.
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Eagles Releasing Darius Slay: The Philadelphia Eagles are releasing cornerback Darius Slay, a six-time Pro Bowler. This move will save the team $4.3 million against the salary cap. Slay, 34, had a down season in 2024, recording no interceptions for the first time since his rookie year.
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Rams’ Tough Decision: Head coach Sean McVay of the Los Angeles Rams described the decision to trade wide receiver Cooper Kupp as the "hardest decision" he’s had to make. Kupp, a key player for the Rams, announced that the team is looking to trade him. The move is part of the Rams’ broader strategy to restructure their roster and finances.
- Matthew Stafford’s Future: McVay also confirmed that quarterback Matthew Stafford will stay with the Rams under a restructured version of his current deal. The team will work to adjust Stafford’s salary cap hits, which are significant over the next two seasons.
Impact on the Free Agent Market
The decisions made regarding franchise tags and other roster moves have a profound impact on the free agent market. With the tampering period set to open on March 10, teams and players are preparing for a critical period of negotiations. The list of top 25 free agents compiled by Yahoo Sports’ Frank Schwab highlights the potential for high-profile signings, especially for teams in need of pass rushers, interior defensive linemen, and offensive linemen. While the quarterback market may not be as strong this year, players like Sam Darnold are likely to attract significant interest.
The Future of Key Players
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Ronnie Stanley: The Baltimore Ravens are facing a challenging decision regarding offensive tackle Ronnie Stanley. As the top free agent at his position, Stanley is a priority for the team. However, with limited salary cap space, the Ravens may need to consider a franchise tag if a long-term deal cannot be agreed upon by the deadline.
- Micah Parsons: The Dallas Cowboys have begun extension talks with star linebacker Micah Parsons. With one year left on his current deal, the team is keen to secure Parsons long-term. Negotiations are expected to be intense, with Parsons likely to command a contract similar to that of the NFL’s highest-paid pass rushers.
As the NFL franchise tag deadline approaches, the coming days will be crucial for teams and players alike. The decisions made will shape the league’s landscape for the upcoming season and beyond.
