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?
Thus far, only Kansas City Chiefs Pro Bowl guard Trey Smith has received the non-exclusive tender. (More on what that means below.)
The Cincinnati Bengals will reportedly tag wide receiver Tee Higgins for a second straight year, and try to work out a long-term deal. The Dallas Cowboys, meanwhile, reportedly intend to franchise defensive tackle Osa Odighizuwa if the two sides can’t work out a long-term deal before Tuesday’s deadline.
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: $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
Live5 updates
Matthew Stafford is staying with the Los Angeles Rams for the near future, with the team announcing Friday that the veteran QB sticking around on a restructured deal. Although the terms of the deal were unknown at the time, Rams head coach Sean McVay provided a few more details during a press conference on Monday.
McVay told reporters that Stafford’s restructured deal would be part of his existing extension, which he signed in 2022. Stafford’s current deal runs through 2026, holding salary cap hits of $49.7 million and $53.7 million, respectively, over the next two seasons; most likely, those amounts are what the team will work to adjust.
The Rams coach added that he expects to have a similar conversation with Stafford next season, but that it hopefully won’t take as long.
Sean McVay: Rams will adjust Matthew Stafford’s financial terms under existing extension – operating on a year-to-year basis. He expects this conversation again next year (reiterating he wants Stafford as long as Stafford wants to play). He hopes it takes even less time in 2026.
— Jourdan Rodrigue (@JourdanRodrigue) March 3, 2025
McVay told reporters that he’d “been sleeping better these last couple of days” since Stafford agreed to stay.
Ronnie Stanley is the top offensive tackle available in free agency and teams looking for a left tackle don’t have many other options with Alaric Jackson re-signing with the Rams.
That could make it more difficult for the Ravens to bring Stanley back, though the team views it as a priority. No agreement reportedly appears to be close, however.
Stanley, who turns 31 on March 18, started all 17 games for Baltimore last season. He allowed two sacks in 575 pass block snaps (1089 total), according to Pro Football Focus. He is rated as the No. 5 free agent available by Yahoo Sports’ Frank Schwab.
Placing a franchise tag on Stanley if a long-term contract isn’t negotiated is an option. But the Ravens are projected to be $10.4 million under the salary cap, according to Spotrac, while a franchise tag would guarantee Stanley a one-year salary of $25.2 million.
The NFL’s highest-paid offensive tackle is Tampa Bay’s Tristan Wirfs at an annual salary of $28.1 million as part of a five-year, $141 million extension he signed before last season. Detroit’s Penei Sewell is next at $28 million per season. He signed a four-year, $112 million deal last spring.
Star linebacker Micah Parsons is signed for one more season after the Cowboys picked up his fifth-year option for $21.32 million. But the team wants to sign him to a long-term contract extension before he can become a free agent.
That process reportedly began this week at the NFL scouting combine with Dallas starting “general” contract talks with Parsons this week, the Dallas Morning News reported.
Where could contract negotiations begin? Nick Bosa is the NFL’s highest-paid pass rusher, signing a five-year, $170 million deal in 2023, giving him an average annual salary of $34 million. He had nine sacks and 55 tackles in 14 games last season. Parsons registered 12 sacks and 44 tackles, limited to 13 games by an ankle injury.
As the opening of the NFL free agency “tampering” period opens on March 10, who are the top players available to be signed? Yahoo Sports’ Frank Schwab assembled a list of the top 25 free agents on the open market.
It’s not a great crop for teams that need a quarterback, but that will likely make Sam Darnold a man in demand.
“It didn’t end on a high note, but Darnold was excellent for most of the 2024 season. And there’s a lot of desperation at quarterback around the NFL. The case for Darnold is his draft pedigree and the results he showed when he was finally in a good situation. The case against him is it’s a small sample of success and the final two games were ugly. He’ll get paid, and it’ll come with risk.”
Teams in need of pass rushers, interior defensive linemen and offensive lineman will find plenty of options.
Who is the No. 1 player on the market? View the complete list of top 25 free agents here.