2026 NFL franchise tag primer: What we're hearing on top candidates and early tag decisions
The Cowboys and Colts face pivotal franchise tag decisions ahead of free agency
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6 min read
The 2026 NFL season is already upon us, and the Seattle Seahawks still smell like cigars and champagne. That's the way the NFL calendar falls, as all teams have the opportunity to issue the franchise tag as early as Tuesday, Feb. 17, through the March 3 deadline.
What better time than now to look at potential tag candidates ahead of free agency? After surveying around the league, I found strong consensus on the three or four teams most likely to issue the franchise tag -- Indianapolis and Dallas at the top -- but most league sources don't expect this to be a robust tag season.
The 2026 salary cap has yet to be set, but we know it will eclipse $300 million for the first time ever. That, along with the tag salary projections, is enough to evaluate tag candidates less than a week before the window opens.
A few important notes: 1) We always talk about the franchise tag, but teams can also issue the less-expensive transition tag. We'll have more on that later. 2) Teams only issue the tag at the start of the window to make a point ahead of negotiations. If we get to Tuesday night and no one is tagged, that's OK. And 3) The tag is regularly used as a placeholder. If someone is tagged at the start of March, they could have an extension before free agency begins a week later. If they don't, the team has until July 15 to strike a deal, or the player will play the season on the tag.
Let's begin.
Dallas Cowboys
See above item 3. The Cowboys tagging George Pickens has been understood since the final quarter of the regular season. It will cost Dallas about $28 million, and the two sides can work to hammer out a long-term deal. There is always a chance the Cowboys tag Pickens with the intent to trade him, but sources believe he will be playing in Dallas in 2026.
Indianapolis Colts
Along with the Cowboys, Indy appears destined to issue the tag in the coming weeks. That's because it has two options, and unless it reaches deals with both Daniel Jones and Alec Pierce, it seems obvious the team will use the tag.
The priority is Jones, who is recovering from an Achilles injury and would cost about $47 million on the tag. Indy would prefer to sign Jones to an extension, and there is mutual interest in him remaining there, sources say. But there will be interest in the quarterback if he somehow hits free agency. Jones went through a similar situation in 2023, when he landed a four-year deal with the Giants and Big Blue used the tag on Saquon Barkley.
As for Pierce, there is a dearth of free-agent wide receiver talent, and he has only improved with age. He enters his age-26 season coming off his first 1,000-yard year and has led the league in yards per reception over the past two seasons.
Atlanta Falcons
The former No. 4 overall pick had his breakout year while playing on his fifth-year option. The Falcons couldn't pull the trigger on a long-term deal with Kyle Pitts after he struggled in Years 2 through 4, but he put together a second-team All-Pro season with Michael Penix Jr. and Kirk Cousins throwing to him. That should be enough for the new brain trust to keep him in Atlanta for at least another year.
New general manager Ian Cunningham will make the call on a tag that projects around $16 million. Atlanta will also be in the market for an affordable quarterback option with Penix's injury, which could factor into how much money the Falcons allocate. Still, it seems Pitts has earned himself another year there.
Seattle Seahawks
If you read my postgame Super Bowl story this week, you know Kenneth Walker III understood all of this was about to happen. It's no exaggeration to say he earned himself millions this postseason. The Seahawks have plenty of cap space, but both sides may struggle to immediately agree on an extension after this playoff burst.
Has he earned a Josh Jacobs- or James Cook-type deal worth $12 million per year? Or does GM John Schneider opt for the one-year, roughly $14 million tag? Either way, after the past few weeks, there is little doubt Walker will remain in Seattle.
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Pass rushers
If one player from this group gets the tag, it's probably Odafe Oweh -- and even he's a longshot. The number will hover around $27 million, and it would be difficult for any team to pay a potential candidate that number.
The Chargers have the cap space, and Oweh did produce 7.5 sacks in 12 games after they traded for him. Still, sources would be surprised if Los Angeles issued the tag.
The same goes for Jaelan Phillips and the Eagles, who traded for him at the deadline but traditionally play the compensatory-pick game.
An interesting name being floated is Trey Hendrickson. He's coming off an injury-filled 2025 entering his age-32 season. While the Bengals retained the right to tag him after protracted talks last offseason, sources deem it unlikely Cincinnati allocates that much money to the position given all of its other defensive needs.
Jacksonville Jaguars
Travis Etienne and Devin Lloyd are technically tag candidates, but sources do not expect Jacksonville to use the tag on either player.
Lloyd faces a linebacker tag number near $28 million, which groups off-ball linebackers with outside players. Fred Warner doesn't make that kind of money, and the Jaguars already have Ventrell Miller on a rookie deal.
This regime also declined Etienne's fifth-year option last year, and it's hard to envision the team using a $14 million tag even after his nearly 1,400 scrimmage yards in 2025.
Offensive linemen
The linebacker tag number is dwarfed by the offensive line figure. Centers, guards and tackles are grouped together, producing a tag close to $28 million.
That's amazing if you're a team with an All-Pro left tackle staring at free agency; it's less amazing if you're the Baltimore Ravens trying to retain center Tyler Linderbaum when the top of that market isn't even $20 million annually.
Sources expect he would be a top target for the Chargers if Baltimore can't retain him.
A long-shot option here is Packers tackle Rasheed Walker, but only in a tag-and-trade scenario. The tackle market -- in free agency and the draft -- is thin, so Green Bay could try to recoup draft capital lost to Dallas. Still, the Packers are typically conservative spenders, and that's a hefty number for GM Brian Gutekunst.
"I don't feel like Gutey is motivated enough to tag Rasheed," one league source said. "Finding a partner at that number is tough, but it's possible." Unless there's a deal in place, this won't happen.
Running backs
Walker is the most likely tag candidate, and we've already addressed Etienne. The only other remotely plausible option is Breece Hall, but that seems extremely unlikely as well. Sources expect a buyer's market at the position, with players like Rachaad White, Javonte Williams and Rico Dowdle also set to hit free agency. But that doesn't mean running backs won't be tagged...
Transition tag
The seldom-used transition tag is worth keeping in mind across several positions, but especially at running back. Teams have used it a half-dozen times over the past 15 or so years, most recently when the Patriots applied it to safety Kyle Dugger. The franchise tag allows a player to sign with another team if that club is willing to surrender two first-round picks. That is not the case with the transition tag, which simply gives the issuing team right of first refusal.
Would a team actually trade two first-round picks to Seattle for Walker? Of course not, which means the Seahawks could opt for the transition tag instead. Again, there is likely no tag coming for Etienne, but the Jets have enough cap space to use it on Hall and save roughly $2 million if they choose.
There have been tag surprises before, and someone not listed above could still receive the tag if the salary cap lands higher than expected. But remember, the franchise tag suppresses wages and prevents a truer open market for players. So the fewer tags, the better in a world where people should get paid what they deserve.
