The NFL offseason is officially underway. While free agency doesn’t begin until March 11, teams can now place the franchise tag on players beginning today and going through March 5.
2/28 10:24am — Chiefs Tag L’Jarius Sneed
The Kansas City Chiefs are placing the franchise tag on star cornerback L’Jarius Sneed, according to NFL Insider Jordan Schultz. This comes just minutes after wide receiver Marquez Valdes-Scantling was released in order to create $12M in cap space.
The franchise tag for a cornerback is valued at $19.8 million, according to Spotrac, and Sneed’s projected market value is $16.3 million.
Reports surfaced recently that the franchise tag route was the route that the Chiefs would take and if the two sides weren’t able to reach agreement on a contract extension, they would explore a trade for the star cornerback.
The Chiefs are also focused on getting a contract extension done for star defensive tackle Chris Jones, who said during the Super Bowl Parade (keep in mind that he was having lots of fun) that he would be back in Kansas City.
2/23 10:09pm — Bengals Tag Tee Higgins
The Cincinnati Bengals have informed star wide receiver Tee Higgins that they will be placing the franchise tag on him, according to NFL Network’s Ian Rapoport.
The wide receiver franchise tag is projected to be worth $20.7 million. Spotrac projects Higgins’ market value to be $18.6 million.
Higgins has said all along that he wants to remain in Cincinnati and by having the franchise tag placed on him, the two sides will now have a chance to reconvene and resume negotiations on a contract extension.
2/20 8:33am — Buccaneers COULD Tag Antoine Winfield Jr.
It was reported on Monday afternoon that Buccaneers safety Antoine Winfield Jr. could be a potential candidate for the franchise tag. Winfield, coming off of his rookie contract, is due to be a free agent this offseason after having a career year in nearly EVERY statistical category.
The franchise tag for a safety in 2024 is expected to be worth $16.2M, according to Spotrac, and Winfield’s expected Market Value is $18.4M.
