Understanding the NFL franchise tag

What is the NFL franchise tag?

It's a mechanism which allows a team, if it chooses, to tender a one-year offer to just one of its potential free agents. With slight variations to the calculus, the tag is basically worth the average of the top five salaries at the player's position. However a previously well-compensated player, such as Detroit Lions DT Ndamukong Suh, would receive 120% of his prior year's salary if it represents a better raise.

A player given an "exclusive" tag, which is worth slightly more, cannot negotiate with other teams. A player given the "non-exclusive" tag can deal with outside clubs, but if he's allowed to sign with a new team, his previous club is compensated with two first-round draft picks. (Four teams used the non-exclusive tag in 2014.)

What is a transition tag? It's essentially worth the average of the top 10 salaries at a player's position or 120% the value of his 2014 salary (whichever is higher). Players with the transition tag can negotiate with other clubs, but their original team does not receive draft pick compensation if they fail to match an outside offer. (Two teams used the transition tag in 2014.)

Projected franchise tag values by position for 2015 (per NFL.com): QB: $18.5 million, DE: $14.8M, LB: $13.2M, CB: $13.1M, OL: $12.9M, WR: $12.8M, DT: $11.2M, RB: $10.9M, S: $9.6M, TE: $8.3M K/P: $4.1M.

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Deadline to apply tags: Monday, 4 p.m. ET.

Can a tagged player still sign a new contract? Once the player signs his franchise tender, he cannot negotiate with other clubs. But he does have until July 15 to reach a long-term contract with his current team, otherwise he must play the 2015 season under the tag.

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