The franchise tag in the NFL is considered a crucial bargaining tool for teams to retain their star players. Consequently, some players might become unrestricted free agents as the NFL league year commences on March 13. However, the teams can place the franchise tag on one incoming unrestricted free agent from February 20 to March 5.
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Despite its importance, the franchise tag is avoided by the teams as it often implies that the team failed to secure a long-term contract extension. However, for some teams like the Indianapolis Colts, the franchise tag has been utilized strategically over the years to retain key players.
As the tag window progresses, there are several other significant dates to keep in mind in anticipation of free agency. On Monday, March 11, the legal tampering period commences. This officially allows teams to engage in initial conversations with unrestricted free agents. These discussions are permissible only with the provisions in place to ensure fairness and compliance with league regulations.
Furthermore, Wednesday, March 13 marks the beginning of the free agency period. In other words, this signals the start of unrestricted conversations between free agents and teams across the league. Basically, this is considered a time of exploration for both restricted and unrestricted free agents in the NFL franchise tag landscape.
What Exactly is the Franchise Tag and How Many Does Each Team Have?
It’s a collectively bargained mechanism that allows teams to secure one unrestricted free agent each annum. Those who sign the tender are guaranteed a non-negotiable one-year contract for the upcoming season.
These players who receive the franchise tag may be either under the exclusive franchise tag or the non-exclusive franchise tag. The exclusive tag prevents players from negotiating with other teams but comes at a higher cost. On the other hand, the non-exclusive tag allows players to sign offer sheets with other teams. Also, their previous teams reserve the right to match the offer or receive compensation if they decline.
Interestingly, the value of the exclusive franchise tag comprises an average of the top five salaries at the player’s position currently. It might also be based on 120% of his previous salary, whichever is greater. However, these numbers are not available until after restricted free agency ends.
What is the Third Option Available to the Teams?
Apart from the franchise tags, teams can opt to use the transition tag on an impending unrestricted free agent. Under the new CBA, only one franchise tag or transition tag can be used per offseason. Players on the transition tag can negotiate offer sheets with other teams. But, unlike the franchise tag, teams do not receive compensation if they decline to match an offer sheet. This year, while teams have until mid-July to sign a tagged player to a contract extension, the deadline for players on the transition tag is one week later.
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It also becomes important to note that teams can only tag a player three times. Moreover, every time they tag a player, the price witnesses an upward trend. Mostly the second time a player is tagged, they receive a 120% raise over the previous season, while the third and final time results in a significant 144% raise, making it a safe choice for those who might face an impasse.
