Update:NFL deadline passes; 9 players offered franchise and transition tenders

The NFL has closed the deadline for its franchises to designate one player with a franchise or transition tag. It

opened on February 20 and closed at 3 p.m. (Arrowhead Time) on Tuesday, March 5.

The following is a complete list of designated players, all of whom have contracts that will expire when the new

league year begins next Wednesday afternoon.

No players received the less-commonly utilized exclusive franchise tag.

Transition Tags: S Kyle Dugger, New England Patriots

All but two of these players—Higgins and Sneed—were formally designated on the final day of the tag window. The

tag was placed on Higgins on February 24. The Chiefs named Sneed on Monday.

What comes next

All of these players have received completely guaranteed contracts to play in the 2024 season. The amount they will

receive is determined by a formula negotiated by the league and the players’ union in the current Collective

Bargaining Agreement. If the player signs the tag, the contract goes into effect.

However, in most situations, the tender is never signed. Some of these players will end up negotiating a new long-

term agreement with their present team before the contract deadline in mid-July. Others will be traded to other

teams, who will then negotiate a new long-term contract with the player. Some will sign the tag and play for the

agreed-upon money.

In rare situations, players with non-exclusive franchise and transition tags, who are permitted to negotiate with

other teams, will receive an offer sheet from another team. Their existing team will have the option to match the

contract. If they do not, the player is free to sign with the new team; however, in the case of a non-exclusive franchise

tag, the new team must compensate the previous team with two first-round draft picks.

However, when the new league year begins, and unless the contract tender is replaced by a trade or a new long-term

contract, each team will be required to carry the full tag amount for its franchise or transition contract tender against

its 2024 salary cap.

We now calculate that if Sneed’s $19.8 million tender is extended next Wednesday, the Chiefs will have $9.5 million

in cap space to begin the next league year. However, a lot can happen between now and then. Buckle up!

Get more related news on:https://sportviewers.com