Just like that, the 2023 season is behind us, and we are already looking forward to the offseason! One of the biggest topics of the offseason is NFL Free Agency. And to another degree, which players will be franchise tagged. So, let’s take a look at some players scheduled to be free agents and tier them out based on their likelihood of getting franchise tagged, a new contract, or become a Free Agent. This is a 2024 NFL Free Agency Preview!
Franchise Tag Information
To put it simply, the franchise tag is a way for organizations to minimize long term risk on a player at the cost of a relatively expensive one year contract. The cost of franchise tagging a player is the average of the top five contracts in their position or 120-percent of the player’s current salary, whichever is more expensive. Therefore, for some it can get pretty pricey. Because of this, it is actually rarely used. In 2023, only six players were tagged- Lamar Jackson, Saquon Barkley, Josh Jacobs, Tony Pollard, Da’Ron Payne, and Evan Engram. Jackson, Barkley, Payne, and Engram went on to turn those tags into actual contracts.
There are some other wrinkles to the franchise tag as well. They can be exclusive. This means the player can’t negotiate with other teams. They can be non-exclusive- meaning the player can meet with other teams, but the original team can match the offer or receive compensation if they don’t. There’s the rarely used transition tag that is a little cheaper but is also non-exclusive with no compensation if teams don’t match the offer. Lastly, the franchise tag can be used more than once on the same player, but it does get more expensive. Teams must pay 120% of the franchise tag salary in the second year of the tag and 144-percent if they chose to tag the same player a third time.
Projected Franchise Tag Costs via OverTheCap
QB- $35.9 million
RB- $12.4 million
WR- $21.6 million
TE- $12.4 million
Fantasy Relevant Pending Free Agents
- Tony Pollard
- Josh Jacobs
- Tee Higgins
- Michael Pittman
- Kirk Cousins
- Derrick Henry
- Austin Ekeler
- Marquise Brown
- J.K. Dobbins
- D’Andre Swift
- Gabriel Davis
- Rashid Shaheed
- Dalton Schultz
- Baker Mayfield
- Devin Singletary
- Mike Evans
- Calvin Ridley
- Antonio Gibson
- Hunter Henry
- Ezekiel Elliott
- Clyde Edwards-Helaire
- Saquon Barkley
Franchise Tag Candidates
These are the players that have performed well for their respective teams and are probably worth at least close to their position’s franchise tag cost.
These players also have some long-term risk whether it be by age, injury history, or by being a running back.
Exclusive
These players are worthy of the franchise tag but mean a lot to their franchise or don’t hold a ton of trade value.
- Mike Evans
- Kirk Cousins
- Tony Pollard
- Calvin Ridley
Non-Exclusive
These players are worth the cost of the franchise tag but also hold some potential value on the open market.
- Tee Higgins
- D’Andre Swift
- Josh Jacobs
- Saquon Barkley
Contract Candidates
These players have performed well enough to earn the right to a contract on their current team, whether it be a one year contract or a multi-year contract.
Also, the contract may or may not be worth more than the franchise tag.
Single Year Prove-It Deal
These players have performed well for their team. However, they still carry some question marks surrounding their potential.
This contract would probably less than the cost of the franchise tag, but not too terribly far off.
- Baker Mayfield
- J.K. Dobbins
Multi-Year + More than Franchise Tag Annual Value Contract
This player has earned the right to a blockbuster contract with their current team.
- Michael Pittman
Multi-Year + Less than or Near the Franchise Tag Annual Value Contract
These players have performed well for their team to where the team would want them long-term, but not quite at the annual cost of the franchise tag.
- Marquise Brown
- Gabriel Davis
- Rashid Shaheed
- Dalton Schultz
Multi-Year + Team-Friendly Deal
These players have performed well enough for their team to want them around, but not near the annual cost of the franchise tag.
- Devin Singletary
- Clyde Edwards-Helaire
Free Agent Candidates
These players may have performed well enough, but it’s probably time for their current team to move on from them.
- Derrick Henry
- Austin Ekeler
- Hunter Henry
- Antonio Gibson
- Ezekiel Elliott
Defensive Names to Watch in Free Agency
- Chris Jones
- Brian Burns
- Josh Allen
- Christian Wilkins
- Antoine Winfield
- Jaylon Johnson
- Justin Madubuike
- Kamren Curl
- Jonah Williams
- Mekhi Becton
- Austin Jackson
- Chase Young
- Frankie Luvu
- Willie Gay
- Patrick Queen
- L’Jarius Sneed
- Kyle Dugger
- Chauncey Gardner-Johnson
