Free agency is on the horizon around the NFL, even though some players are awaiting to see whether they’ll hit the open market. Some free agents will have the franchise tag placed on them in the days leading up to free agency, giving teams more time to negotiate long-term deals with the player while keeping them under team control for the next season.
There are two different kinds of franchise tags, which can only be used for one player. If the player signs the tender, that player receives a one-year, fully guaranteed contract for the upcoming season.
- Exclusive franchise tag: The exclusive tag prevents players from negotiating offer sheets with other teams, but costs more than the non-exclusive tag. The salary is determined by whichever figure is higher: The average of the top 5 salaries at the player’s position during the current year, or 120% of that player’s previous salary.
- Non-exclusive franchise tag: Players can negotiate and sign offer sheets with any team once the new league year begins, but the player’s previous team retains the right to match that offer sheet. If they do not match it, that team will receive two first-round picks from the team that signed the player to an offer sheet. The salary for the non-exclusive franchise tag is lower than the exclusive tag, as it’s determined by the higher figure between: the average of the top 5 salaries at a player’s position over the last five years applied to the current salary cap, or 120% of the player’s previous salary.
- Transition tag: A transition player is offered the greater of the average of the top 10 prior-year salaries at the player’s position, which average is calculated using the same methodology used for non-exclusive franchise players (the Cap Percentage Average); or 120% of his prior year salary. If a club extends a required tender to a transition player, the player shall be permitted to negotiate a contract with any club subject to his prior club’s right of first refusal, except that no draft choice compensation shall be made with respect to such player if his prior club declines to exercise its right of first refusal.
Here’s a rundown of everyone who had the franchise tag placed on them and the players that reportedly receive the tag. Teams could start placing the franchise tag on a player on Feb. 20. The franchise tag deadline is March 5.
2024 franchise tag rundown
The Bengals officially placed the franchise tag on Higgins on Monday, as they’ll have until mid-July to work out a long-term deal. Higgins will make $21,816,000 this season under the tag.
Higgins had career lows in receptions (42), receiving yards (656) and receiving touchdowns (five) last season, but played just 12 games. He had consecutive 1,000-yard receiving seasons in 2021 and 2022.
Burns is expected to be tagged by the Panthers prior to the franchise tag deadline (per The Athletic). Burns and the Panthers reached an impasse in contract negotiations this past season as he was seeking a deal with an average annual value of $30 million.
The Panthers were reportedly willing to go up to $27 million per season on a five-year deal, which would have been $135 million in total value. Only the 49ers‘ Nick Bosa ($34 million) and Steelers‘ T.J. Watt ($28 million) would have been paid more on an average annual salary than Burns.
Burns would receive a guaranteed salary of $22.3 million, coming off a season which he finished with 40 pressures, eight sacks, 18 quarterback hits and a 11.1% pressure rate. Burns, who played defensive end in previous seasons, lined up as an outside linebacker for the majority of snaps last season — making him eligible for a linebacker’s salary if tagged.
If the Buccaneers do use the franchise tag, they are expected to use it on Winfield (per the Tampa Bay Times). He would make $17,123,000 if tagged by Tampa Bay.
Winfield earned first-team All-Pro honors for the first time in his career this past season, totaling 122 tackles, 6.0 sacks, 12 pass breakups and three interceptions. Winfield’s 6 forced fumbles were also tied for the league lead. He allowed just one passing touchdown as opposing quarterbacks had a 46.1 passer rating when targeting him.
This is an interesting situation, as the Chiefs and Sneed are open to a trade if the two sides can’t come to terms on a long-term deal. This gives Sneed a chance to talk to other teams while also continuing to work out something with the two-time defending world champions.
The 27-year-old defensive back has been extremely consistent during his four years with the Chiefs. Over that span, he’s logged 10 interceptions, 40 pass breakups, four forced fumbles, three fumble recoveries, 6.5 sacks and has over 300 career tackles.
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Author: Jeff Kerr
February 27, 2024 | 6:35 pm
