Franchise tag deadline winners and losers: Kenneth Walker III will get to check free company

Tuesday was a busy day within the NFL as groups needed to determine whether or not or to not franchise tag any of their gamers earlier than the 4 p.m. deadline. 

Whereas it comes with a assured wage for the 2026 season, being franchise tagged additionally prevents a participant from testing the open market, a chance that will solely come round as soon as in a participant’s profession throughout their prime incomes years. The silver lining, nevertheless, is that gamers who’re franchise-tagged nonetheless have till 4 p.m. on July 15 to come back to phrases with their group on a long-term deal earlier than the beginning of the upcoming season. 

Previous to Tuesday, Atlanta Falcons tight finish Kyle Pitts Sr. and Dallas Cowboys receiver George Pickens have been the one two gamers who had already been franchise tagged by their respective golf equipment. That quantity elevated to a few gamers after the New York Jets positioned their franchise tag on working again Breece Corridor. Indianapolis Colts quarterback Daniel Jones acquired a transition tag whereas changing into the primary quarterback to obtain that tag in over 30 years. 

2026 NFL free company primer: Projected free brokers, prime wants, cap area for all 32 groups this offseason

Garrett Podell

Corridor and Jones are among the many following listing of notable winners and losers from this 12 months’s NFL franchise tag deadline day.

Winner: Kenneth Walker III 

The reigning Tremendous Bowl MVP is on the precipice of testing free company after the Seattle Seahawks opted to not franchise tag him. Walker is ready to turn out to be solely the fourth reigning Tremendous Bowl MVP to turn out to be a free agent; the earlier three signed profitable contracts with new groups. 

Walker, 25, will instantly leap to the highest of a aggressive group of working backs who may even take a look at free company, a gaggle that features fellow draft classmate Travis Etienne and former Professional Bowler Najee Harris. Walker, who earned slightly below $8.5 million throughout his 4 years in Seattle, has an anticipated market worth of simply over $36 million over 4 years. 

There ought to be at the very least a number of aggressive groups that may vie for Walker’s companies, together with the Jacksonville Jaguars and Kansas Metropolis Chiefs. There’s additionally an opportunity, though unlikely, that Walker and the Seahawks come to phrases on a brand new contract earlier than March 11, the official begin of the brand new league 12 months. 

Loser: Breece Corridor 

Whereas Walker is slated to buy his companies in free company, Corridor will not get that very same probability after the New York Jets franchise tagged him on Tuesday. 

As a substitute of a contemporary, new alternative, Corridor should proceed to toil on a group that hasn’t had a successful season in over a decade. Regardless of the dearth of assist round him, Corridor has had particular person success throughout his time in New York. He’ll look to take action once more in 2026. 

There’s some excellent news for Corridor, although. One is the truth that the Jets will reportedly proceed to attempt to come to phrases with him on a long-term deal. The opposite is that, if Corridor performs below the franchise tag, he’ll obtain $14.293 million, making him the fourth-highest-paid working again within the NFL when it comes to annual wage. 

Winner: Trey Hendrickson 

Tuesday was in all probability a bittersweet day for Hendrickson, however in all probability extra of the latter. Hendrickson hoped to stay in Cincinnati on a long-term deal. Whereas that does not seem like within the playing cards, he’ll get an opportunity to pursue his coveted multiyear deal in lower than every week. 

Now 31, Hendrickson is slated to enter free company for simply the second time in his profession and the primary time since 2021. Again then, Hendrickson penned a four-year, $60 million deal that in the end swelled to over $92.2 million throughout his 5 seasons in Cincinnati. 

If he departs subsequent week by way of free company, it will mark one other notable member of the Bengals‘ 2021 Tremendous Bowl group who has left city lately. Hendrickson was a Professional Bowler throughout every of his 4 years with the Bengals. He led your entire NFL with 17.5 sacks in 2024. 

Whereas accidents hampered him this previous season, Hendrickson ought to nonetheless command a reasonably large market in free company given the place he performs and the variety of groups that would use a confirmed move rusher. 

Loser: Daniel Jones 

Jones turned the primary quarterback since Jeff George (means again in 1996!) to obtain the transition tag. By getting transition-tagged, Jones loses out on about $6 million that he would have made had the Colts franchise-tagged him. He’s slated to make $37.833 below the transition tag. 

The Colts’ determination to transition Jones additionally will increase the percentages of considered one of Jones’ favourite receivers, Alec Pierce, testing free company, as groups can’t use a number of tags. Except Pierce and the Colts come to phrases on a brand new deal in lower than every week, there’s an excellent probability that Pierce performs some other place in 2026. 

The optimistic for Jones is that it solely takes one group to make a proposal aggressive sufficient to drive the Colts’ hand. That, nevertheless, is a threat the Colts have been prepared to take, and for good cause, given Kyler Murray’s monetary scenario. 

Shortly after the information broke on the Colts’ determination to put the transition tag on Jones, it was revealed that the Cardinals will launch Murray when the NFL’s new league 12 months begins. As a result of the Cardinals owe him $36.8 million, Murray will greater than seemingly play some other place for the league minimal. That can undoubtedly affect Jones and the variety of affords he might obtain. 

Winner: Alec Pierce 

As a result of groups can solely tag one participant, Piece simply acquired one step nearer to free company after the Colts determined to make use of their tag on Jones. There’s additionally nonetheless the possibility that the Colts and Pierce come to phrases on a brand new deal earlier than the beginning of subsequent week. Both means, Pierce can have a brand new contract earlier than the beginning of the 2026 season. 

Nonetheless simply 25 years previous, Pierce is getting into his fifth season after spending the primary 4 seasons in Indianapolis. One of many league’s premier big-play threats, Pierce led the NFL with a 22.3 yards-per-reception common in 2024. In 2025, Pierce once more led the NFL in common yards-per-catch (he averaged 21.3 yards-per-catch) and in addition eclipsed 1,000 receiving yards for the primary time in his profession. 

After making $8.66 million on his rookie contract, Piece is in line for a giant pay elevate. His present projected market worth requires him to earn almost $81 million on a four-year deal. That quantity seems to be very conservative, nevertheless, given the present demand for confirmed gamers at Pierce’s place, coupled with the truth that this can be a comparatively weak free agent class of receivers. 

Among the many groups that may seemingly foyer for Pierce’s companies are the Pittsburgh Steelers, who unsuccessfully tried a number of occasions final 12 months to discover a confirmed wideout to enrich DK Metcalf.