The revelation of the 2024 salary cap on Friday afternoon provides clarity on the franchise tag situation. Teams now have official numbers on what it will cost to use the tags during this year’s window.
This offseason marks the 32nd year in which NFL teams have the option to use franchise or transition tags, a tool introduced with the advent of full-fledged free agency in 1993. Teams can only use either the franchise tag or the transition tag in a single offseason, not both. While there have been discussions about tagging Xavier McKinney with a transition tag, only four players have received that designation in the past decade. On the other hand, numerous players are tagged as franchise players each year.
There are several potential candidates to be tagged, but as of now, no team has chosen a franchise player for this year. Here are the 2024 non-exclusive tag figures by position, as reported by NFL.com’s Tom Pelissero:
- Quarterback: $38.3MM
- Running back: $11.95MM
- Wide receiver: $21.82MM
- Tight end: $12.69MM
- Offensive line: $20.99MM
- Defensive end: $21.32MM
- Defensive tackle: $22.1MM
- Linebacker: $24MM
- Cornerback: $19.8MM
- Safety: $17.12MM
- Kicker/punter: $5.98MM
These numbers do not apply to all potential franchise tag candidates. Players tagged in 2023 will have their figure set at 120% above their 2023 salary. This has established the tag prices for players like Saquon Barkley, Josh Jacobs, and Tony Pollard. None of these running backs are guaranteed to be tagged this year, and due to the cap increase, Barkley’s tag cost of around $12MM is similar to the cost of tagging a running back for the first time this year.
The situation with Chris Jones is different since the star Chiefs defensive tackle was tagged in 2020. Tagging Jones would require the Chiefs to pay 120% of his pre-restructure 2023 salary, which is over $32MM, making it unlikely. However, the cap increase to $255.4MM provides some relief to Jones’ camp and teams looking to spend more this offseason.
Only one other player, Lamar Jackson, has received a tag over $30MM, costing the Ravens $32.4MM last year, and now it would cost teams $38.3MM to tag a quarterback. No quarterbacks are currently being considered for tagging, and the Buccaneers are unlikely to tag Baker Mayfield following the cap announcement. As teams finalize their free agency budgets, tagging players will come at a higher cost than initially expected.
The exclusive tag, which restricts players from negotiating with other teams, is rarely used due to its high costs. The non-exclusive tag serves as a strong deterrent to keep players off the market, as a team signing a tagged player to an offer sheet must give up two first-round picks to the player’s previous team. The transition tag, on the other hand, provides no compensation if a team fails to match an offer for the tagged player.
Here are the 2024 transition tag figures:
- Quarterback: $34.37MM
- Running back: $9.77MM
- Wide receiver: $19.77MM
- Tight end: $10.88MM
- Offensive line: $19MM
- Defensive end: $19.1MM
- Defensive tackle: $18.49MM
- Linebacker: $19.97MM
- Cornerback: $17.22MM
- Safety: $13.82MM
- Kicker/punter: $5.43MM
