2024 NFL franchise tag: Everything you need to know, including top candidates to be tagged

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The NFL offseason truly kicks off Tuesday at 4 p.m. ET, when all 32 clubs have the ability to franchise tag players they wish to keep on the roster for next season. 

The franchise tag is unique to the NFL as it allows players that might be on the move in free agency to stay put on the roster. Of course, in some cases, this doesn’t make players feel good because they could find more money and a better situation elsewhere.

But in every case, it allows that team the opportunity to negotiate further to perhaps reach a long-term extension. And for the player, guaranteed money comes their way for next season.

Let’s try to simplify the complex area of franchise tags with the designation period set to begin this week and end March 7.

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New York Giants running back Saquon Barkley (Eric Hartline-USA TODAY Sports)

The definition of the NFL franchise tag is the ability for NFL teams to select one player each offseason who is set to be an unrestricted free agent in order to guarantee one more year of that player under contract. 

Each team can do so in two different capacities: an exclusive franchise tag or non-exclusive. 

If the exclusive tag is selected for a player, the NFL team must offer a contract no less than the average of the top five cap hits at the player’s position based on April of the current year (2024) or 120% of the player’s salary from the season prior. Whichever is the greater total, that will be the cap hit for next season.

SAQUON BARKLEY ‘NUMB’ TO POTENTIAL GIANTS FRANCHISE TAG THIS OFFSEASON: ‘GONNA LET MY AGENTS HANDLE THAT’

The non-exclusive tag is the same thing, but