Tuesday, February 20th marks a notable date in the NFL’s 2024 offseason: it is the start of the Franchise Tag period. Teams can begin designating Franchise or Transition players today, with March 5th being the final day to use these tags.
As a reminder, the Franchise and Transition Tags are methods whereby NFL teams can retain exclusive or preferential negotiation rights with players who are set to become free agents at the start of the new league year (this year, that date is Wednesday, March 13th). Players receiving one of the tags would receive a one-year guaranteed contract offer, with the value of that offer depending on the player’s position, 2023 salary, and the type of tag used.