NFL Franchise Tag Decisions: Jones Gets Transition Tag, Hendrickson to Free Agency

As the NFL offseason heats up, teams have been making critical decisions regarding the franchise tag, a mechanism to retain key players before free agency. The deadline for applying the tag passed on Tuesday, March 3, 2026, resulting in a mix of tagged players and those set to hit the open market. Here’s a breakdown of the key developments.

Key Decisions and Players Affected

Indianapolis Colts: Daniel Jones Receives Transition Tag

The Indianapolis Colts opted to use the transition tag on quarterback Daniel Jones. Fox Sports reports the one-year value of the transition tag for the 2026 season is $37.8 million, which is $6 million less than the franchise tag. This allows Jones to negotiate with other teams, with the Colts having the right to match any offer. However, unlike the non-exclusive franchise tag, the Colts would not receive draft compensation if Jones signs elsewhere. This decision effectively makes wide receiver Alec Pierce a free agent, as teams can only apply one tag.

Cincinnati Bengals: Trey Hendrickson to Test Free Agency

The Cincinnati Bengals decided not to apply the franchise tag to pass rusher Trey Hendrickson. NFL.com confirmed this move, meaning Hendrickson will be an unrestricted free agent. Hendrickson, however, is coming off an injury-plagued season after recording 17.5 sacks in both 2023 and 2024.

New York Jets: Breece Hall Tagged

The New York Jets have placed the franchise tag on running back Breece Hall. ESPN reports the franchise tag for running backs is worth around $14.3 million. Both the Jets and Hall are reportedly committed to negotiating a long-term deal, with a July 15th deadline to reach an agreement.

Other Notable Tags

In addition to these developments, wide receiver George Pickens of the Dallas Cowboys and tight conclude Kyle Pitts of the Atlanta Falcons were previously tagged with the non-exclusive franchise tag. ESPN highlighted these earlier decisions as part of the broader franchise tag landscape.

Understanding the Franchise Tag System

The NFL franchise tag allows teams to retain a player for an additional year by offering a one-year contract. There are three types of tags:

• Non-Exclusive Franchise Tag: The most common type, allowing the player to negotiate with other teams, but the original team has the right to match any offer or receive two first-round draft picks as compensation.
• Exclusive Franchise Tag: The tagging team retains the sole right to negotiate with the player and the pay scale is higher. This is rarely used.
• Transition Tag: Guarantees the original club the right of first refusal to match any offer the player might receive. The tagging team receives no compensation if it chooses not to match.

Looking Ahead to Free Agency

With the franchise tag deadline now passed, teams will turn their attention to free agency, which begins on March 9th. Players like Trey Hendrickson and Alec Pierce will be among the most sought-after free agents, although teams will continue negotiations with their tagged players in hopes of reaching long-term agreements. The coming weeks promise to be a busy period of roster adjustments across the NFL.