The window for the Indianapolis Colts to utilize the franchise tag is now open. It runs from Feb. 17th through March 3rd, and there are two players who could receive the tag.
How does the franchise tag work?
Each team has the ability to use the franchise tag on one of their pending free agents each offseason.
If applied, a franchise tag is essentially a one-year deal. The contract amount is predetermined and takes into account which position the tagged player plays.
According to Over the Cap, "franchise tag figures are based upon the top five salaries at each respective position."
Which players could the Colts use the franchise tag on?
Daniel Jones and Alec Pierce are the two franchise tag candidates for the Colts.
With either of these players, the goal of using the franchise tag isn't to have Jones or Pierce playout the 2026 season on that deal. For one, that is not a salary-cap-friendly option for the Colts, and both players want long-term deals.
But what using the tag does accomplish is that it keeps the tagged player from hitting free agency, which then provides him and the Colts a longer negotiating window.
We saw the Colts use this tactic in 2024 with Michael Pittman. A little over a week after the tag was applied, the two agreed upon a contract extension.
According to CBS Sports Jonathan Jones, the Colts are "destined" to use the franchise tag this offseason, and Jones is the "priority."
What are the 2026 franchise tag amounts?
With help from Over the Cap, here is a positional breakdown of the 2026 franchise tag figures:
- QB: $47.32M
- WR: $28.82M
- LB: $28.19M
- OL: $27.92M
- DE: $27.32M
- DT: $26.31M
- CB: $21.41M
- S: $20.87M
- TE: $16.31M
- RB: $14.5M
- ST: $6.9M
This article originally appeared on Colts Wire: Colts' Alec Pierce, Daniel Jones franchise tag candidates