Will the Colts use the franchise tag?

Indianapolis, IN — The franchise tag window officially opened today, February 17th, and is set to close on March 3rd at 4 PM EST.

Specifically for players scheduled to become unrestricted free agents, the franchise and/or transition tag(s) are a valuable tool that offers a fully guaranteed one-year deal and serves as a glorified placeholder amid contract talks. Only one tag can be used per season.

Oftentimes used to buy more time, this tool allows organizations and their respective impending free agents to work out the financial kinks in their pursuit of an eventual multi-year deal. Once a franchise tag is placed, the team in question has until July 15 to extend said player; otherwise, extension talks must be tabled for the following offseason as the tagged player will play out the coming regular season on tagged salary:

Exclusive Franchise Tag: average of the top 5 salaries at the player’s position during the current year, or 120% of that player’s previous salary (whichever figure is higher)

Non-exclusive Franchise Tag: average of the top 5 salaries at the player’s position over the last five years applied to the current salary cap, or 120% of that player’s previous salary (whichever figure is higher)

Transition Tag: average of the top 10 salaries at a player’s position over the last five years

The franchise tag has, in layman’s terms, become known as the negotiation tactic that more or less keeps an ascending player at home for one more season while the organization can remedy whatever struggle is preventing them from outright extending their own. A player can actually opt not to sign said tag, as teams are allowed to rescind their offer, however.

The biggest aspect of the franchise tag, and more specifically, the non-exclusive tag, is that players can still negotiate and sign offer sheets with other teams. The kicker is that said player’s previous team maintains the option to match the offer sheet in question. If they don’t match it, they will receive two first-round draft picks from the team that signed the player. This hasn’t happened since Joey Galloway in 2000; it’s rare, but the possibility is why the non-exclusive tag is the most popular. That and the lower salary compared to the exclusive tag.

The use of the transition tag is far rarer than that of its franchise counterpart, as only six players have received it over the last decade. The transition tag is cheaper than the franchise tag, but unlike the franchise tag, it doesn’t allow compensation if they decline a matching offer sheet.

Will the Colts play tag?

The Indianapolis Colts have used the franchise tag seven times since 1993, the year the tag was implemented. Wide receiver Michael Pittman Jr. was tagged in 2024 before ultimately signing a contract extension, the only tag of the Chris Ballard era.

The Colts entered the offseason knowing two of their biggest impact players from a season ago — quarterback Daniel Jones and wide receiver Alec Pierce — are set to hit free agency.

Although Jones had his renaissance cut short thanks to multiple serious leg injuries, the Colts plan to welcome him back with open arms. Not only are they prepared to give him another shot to prove his case, but retention has revolved around multi-year deals rather than another short-term ‘prove-it’ situation like the one that brought him to Indy in the first place.

Meanwhile, Alec Pierce is set to hit the market as the top wideout available. Being linked to teams with young quarterbacks, such as the Tennessee Titans and New Orleans Saints, adding Pierce’s services would offer a higher floor, as he has become the ultimate get-out-of-jail card when the tough gets going.

But of course, the Colts are aware that Pierce is such a hot commodity nowadays. They’re going to do everything they can to keep him in the city that gave him his shot in the NFL. Pierce’s establishing familiarity with Daniel Jones this past season helps the franchise in negotiations, though such talks could be briefly tabled if Indianapolis elects to put a band-aid on contract extension discussions via the franchise tag.

Electing to tag Daniel Jones could offer some flexibility to the Colts’ long-term quarterback plans. Though they seem set to roll with Jones for the foreseeable future, injury concerns, specifically following an Achilles tear, fear that he won’t be the same player.

As for Alec Pierce, there’s little to no concern regarding his trajectory. Scratching the surface of what’s to come, the last thing the Colts want to do is watch their successful draft project walk out the door. All signs are pointing toward tagging Pierce as the priority, and it’s easy to see why after his career year.

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