The NFL franchise tag deadline is looming, and several key players have already been tagged, including Kansas City Chiefs OL Trey Smith and Cincinnati Bengals WR Tee Higgins, who received the tag for a second time. The Dallas Cowboys plan to franchise DT Osa Odighizuwa unless a long-term deal is reached. The franchise tag allows teams to retain players set to become unrestricted free agents, with exclusive, non-exclusive, and transition tags offering different contractual options.

Exclusive tags guarantee a contract of at least the average of the top five salaries at the player's position or 120% of their previous salary, preventing negotiations with other teams. Non-exclusive tags allow player negotiation, with their current team having the right to match any offer. Transition tags provide a one-year deal at the average of the top 10 salaries in the position without guaranteed compensation. The positional values for 2024 have been established, with quarterbacks earning a whopping $40.242 million, while running backs are set at $13.64 million.