Photo by Ryan Kang/Getty Images
Let’s explain franchise tags in the NFL, and the players who might receive one in 2024.
The NFL offseason officially gets underway today, as Tuesday marks the beginning of the NFL’s franchise tag window. Starting on February 20, and running through March 5, teams can use one of the three available tags on players entering free agency, preventing a player from reaching the open market.
Teams have three potential tags to use on players: The “transition” tag, the “exclusive” tag, and the “non-exclusive” tag. Let’s break the three tags down, highlight what players received a franchise tag last season, and outline some players to watch in the days ahead as potential tag candidates.
Transition tag
The transition tag is not as common as the non-exclusive franchise tag. Under the transition tag, the player is given a one-year deal, with the salary determined by the cap percentage average of the ten largest prior year salaries at a player’s position, or 120 percent of his previous season’s salary, whichever is higher.
As you will see in a moment, using the last ten years of data this makes the transition tag cheaper than the non-exclusive, or exclusive, franchise tags.
However, there is a catch for the team. Players given the transition tag are free to negotiate with other teams, and can be extended an offer sheet. If the player’s current team cannot match the offer, that player is free to sign with the new team, and the current team does not receive any sort of compensation.
Exclusive tag
The exclusive franchise tag is also rather uncommon. Under this designation, the tagged player cannot negotiate with other teams. However, the price is higher. Under the exclusive franchise tag, the one-year salary for the player is either the average of the top five salaries of the player’s position for the current year, or 120 percent of his previous salary.
By using just the current year of salary data, that means the price tag will be higher than using the last ten years of data to generate an average — as you see under the transition tag — or the last five years of data as is done with the non-exclusive franchise tag.
A player can still end up playing for a different team during the next season, but only via a trade.
The exclusive tag is rare. Since 2012, only four players have received this tag: Drew Brees (2012), Von Miller (2016), Kirk Cousins (2017), and Le’Veon Bell (2017).
Non-exclusive tag
This is the most common tag used each offseason. Under the non-exclusive tag, the player is given a one-year deal based on an average of the top five salaries at the respective position over the last five years, or 120 percent of his previous salary, whichever is greater. So, it is cheaper than the exclusive franchise tag, but more expensive than the transition tag.
However, the player is free to negotiate with other teams. Should the player sign an offer sheet from another NFL team, the player’s current team has the right to match the offer. If they do not, they receive two first-round draft picks as compensation when the player leaves for a new team.
Can a player receive a tag two seasons in a row?
A player can receive a franchise tag up to three times, whether consecutively or non-consecutively. Each time, however, the cost skyrockets. A player that receives a franchise tag for the second time sees their salary automatically increase by 20%.
If the player receives the tag for a third time, their salary jumps by 44% from the previous year.
Current tag values
Here are the current estimated tag values for both the franchise tag, and the transition tag, for the 2024 season. These estimates have been calculated by Over the Cap, and are not official. The NFL will likely confirm the tag values for the 2024 season today.
Who received these tags last offseason?
Photo by Perry Knotts/Getty Images
Last offseason six players received a tag, and all received the “non-exclusive” franchise tag. Those players? Baltimore Ravens quarterback Lamar Jackson, Jacksonville Jaguars tight end Evan Engram, New York Giants running back Saquon Barkley, Las Vegas Raiders running back Josh Jacobs, Dallas Cowboys running back Tony Pollard, and Washington Commanders defensive tackle Daron Payne.
Jackson, Engram, and Payne eventually reached deals on extensions with their teams. However, the three running backs each went in different directions. Barkley signed a one-year deal with the Giants last year, avoiding playing under the tag. Jacobs followed a similar path, signing a one-year deal to stay with the Raiders.
As for Pollard, he played last year under the tag.
Players to watch this season?
As we enter the 2024 offseason, there are a number of tag candidates around the league.
We can start with two of the running backs listed above. Both Barkley and Jacobs could be tag candidates for the Giants and Raiders, respectively. However, both are coming off sub-1,000 yard rushing seasons, and their teams might try to re-sign them to cheaper deals rather than using the tag.
Working around the rest of the league, a pair of AFC wide receivers (Tee Higgins and Michael Pittman Jr.) are tag candidates. Having lost Joe Burrow to an injury last season, the Cincinnati Bengals would love to bring Higgins back for him to make another run alongside Burrow and Ja’Marr Chase. The Indianapolis Colts would love to have Pittman catching passes from a healthy Anthony Richardson next year.
Unlike last offseason, which saw Jackson as a clear tag candidate at the position, there may not be a tag candidate at quarterback. Baker Mayfield might be the most likely candidate, but the cost associated with tagging a QB this year is around $36 million.
The Tampa Bay Buccaneers enter the offseason with around $32 million in available cap space, according to Over the Cap. Tagging Mayfield would eat up virtually all of their cap space, and with the team facing decisions on both Mike Evans and Antoine Winfield Jr., the safety is probably the more likely candidate, as a tag on Winfield comes at an approximate cost of $16 million.
There are a few defensive backs to watch when it comes to the tag. The Chicago Bears have around $46 million in available cap space, and while reaching a long-term deal with cornerback Jaylon Johnson appears to be a priority, the team does have the flexibility to use the tag if a deal cannot be reached. The Kansas City Chiefs have around $15 million in available cap space according to Over the Cap, but a number of key players are set to hit free agency including defensive tackle Chris Jones and cornerback L’Jarius Sneed. Tagging Jones is a non-starter, as this would be the third time he was given the tag, bringing the cost to over $32 million. That might make Sneed a more likely tag candidate for the Chiefs, if the team decides to use one this season.
