Today marks decision day for several NFL franchises as the 2026 franchise tag window shuts. Teams must choose: apply the tag or let players hit free agency.
The window is scheduled to close Tuesday at 4 p.m. ET, giving clubs only a few hours to decide whether to place the tender. If you’re looking for a quick primer on how the franchise tag works, you can find a helpful overview here: https://www.nfl.com/news/2025-nfl-franchise-tag-window-opens-today.
So far, two teams have already used the tag. The Atlanta Falcons designated tight end Kyle Pitts with a non-exclusive tag worth $15.045 million, and the Dallas Cowboys tagged wide receiver George Pickens at $27.298 million. Both tags are the non-exclusive variety.
Even though the tag window opened two weeks ago, teams typically wait until the final day to exercise their options. Waiting provides more time to negotiate long-term deals and to evaluate all alternatives. In the NFL, as in life, deadlines often spur action. Today is one of those deadline days.
More tags could arrive today. The New York Jets have indicated they would tag Breece Hall if a long-term deal isn’t reached. Cincinnati hasn’t ruled out tagging Trey Hendrickson, potentially with an eye toward a trade.
Indianapolis is the most intriguing spot. General manager Chris Ballard has said he’d prefer not to use the tag, but he does have two possible targets: quarterback Daniel Jones and wide receiver Alec Pierce.
This could look familiar for Jones. On the final day of the 2023 tag window, he agreed to a four-year, $160 million contract with the New York Giants, which then allowed New York to place the franchise tag on Saquon Barkley. Could Jones followed by Pierce’s fate unfold again, with Indy potentially using the tag to position itself for a longer deal while retaining control of Pierce? Could Indy sign both and keep them amid possible market moves?
Any player not tagged today becomes eligible for free agency, though teams may still extend deals to their own players in the meantime.
With the trade market already heating up, the pace is quickening toward the start of the new league year on March 11, when normal free agency activity begins. It’s a fast sprint to a busy offseason.
