Monday was the deadline for NFL teams to either place a franchise tag on a player or let a would-be free agent test the open market.
There are two versions of franchise tags - exclusive and non-exclusive.
The exclusive tag is a one-year tender offer to a player for an amount no less than the average of the top five salaries at the player's position, or 120 per cent of the player's previous salary - whichever is greater - and the team holds all negotiating rights to the player. The non-exclusive tag is identical in terms of money, but a player can negotiate with other teams and the player's current team has the right to match any offer or receive two first-round picks as compensation.
A transition tag can be used instead if a franchise tag is not used by a team in that year. Transition tags can be rescinded, but if a team does that, it may not use the tag again until next season. A transition tag guarantees the original club the right of first refusal to match any offer the player may make with another team.
Players who received a franchise tag
Dez Bryant, wide receiver, Dallas
The Cowboys would like to work out a long-term deal with Bryant. Owner Jerry Jones said at the NFL combine that he hoped the franchise tag would simply be a "placeholder". The 26-year-old Bryant had 88 receptions for 1,320 yards and 16 touchdowns last season. He is due to make $12.8 million in 2015.
Stephen Gostkowski, kicker, New England
The 31-year-old kicker will get a tag number around $4million this year as the two sides try to work something out for the long term. The nine-year veteran is coming off his two best seasons. He’s missed just five times in 78 field goal attempts and is 8-of-9 from beyond 50 yards the last three seasons. He is expected to eventually receive a four-year contract for $16 million with $9 million in guaranteed money.
Justin Houston, linebacker, Kansas City
The Chiefs placed the franchise tag on Houston, buying some time to negotiate a lucrative long-term deal with last year’s NFL sack leader. The 26-year-old Houston recorded 22 sacks last year and forced four fumbles. He will receive about $13.2million in 2015 with the exclusive rights franchise tag.
Jason Pierre-Paul, defensive end, New York Giants
Robert Quinn received a new contract last September worth about $14 million per year and Pierre-Paul would like a contract comparable to that of the St. Louis Rams pass rusher. Quinn’s contract also included almost $16million in guaranteed money. Quinn has 45 sacks the past four years with 13 forced fumbles - 29.5 sacks and 12 forced fumbles in the past two years. Pierre-Paul had 16.5 sacks in 2011 and 12.5 last year. He missed five games in 2013 and has 42 career sacks in five seasons. With the franchise tag, he will receive almost $15 million this year.
Demaryius Thomas, wide receiver, Denver
The Broncos, who announced the tag Monday afternoon, want to lock up Thomas for years to come. He caught 111 passes for 1,619 yards and 11 touchdowns last year. Like Bryant, Thomas will get nearly $13million this year and the two sides are expected to continue to work toward a long-term deal.
Players who received a transition tag
Charles Clay, tight end, Miami
The Dolphins placed the little-used transition tag on Clay, who caught 58 passes last year for 605 yards and three touchdowns. His breakout year was in 2013 when he caught 69 passes for 759 yards and six scores. Clay was a sixth-round pick out of Tulsa in 2011. With the transition tag, Clay will receive just over $7million this year.
Players not tagged and could become free agents
Randall Cobb, wide receiver, Green Bay
The Packers would like to keep Cobb, who is coming off his best NFL season with 91 receptions for 1,287 yards and 12 touchdowns. Cobb would like a contract worth about $9million per year, but a franchise tag would cost the Packers almost $13million in 2015. The expectation is that Cobb will remain in Green Bay, retaining one half of one of the league’s best wide receiver tandems, along with Jordy Nelson. With the new NFL salary cap at $143.28million and the Packers picking up another $8million carried over from the last year, the team has over $32million in cap space.
Jeremy Maclin, wide receiver, Philadelphia
Maclin has often battled injuries, but the St Louis native is coming off the best season of his five-year career. He played in all 16 games for just the second time and set career highs with 85 receptions and 1,318 yards. He also tied a career high with 10 touchdowns, matching his 2010 total - the last time Maclin played an entire season. He has said he wants to remain with the Eagles and the two sides would like to hammer out a deal before March 10.
Devin McCourty, safety, New England
McCourty has become one of the NFL’s best safeties and would now like to be paid like it. The Patriots are expected to lock him up with a multi-year contract. A new deal for McCourty would likely be in the neighborhood of $45million over five years with $10million guaranteed.
DeMarco Murray, running back, Dallas
The Cowboys had to choose between Bryant and Murray and it was not an easy choice. Dallas would like to have both players back. Bryant led the NFL in receiving touchdowns with 16 while Murray was the NFL rushing leader with 1,845 yards and 13 scores.
Cowboys vice president Stephen Jones and owner Jerry Jones believe Murray wants to remain with the Cowboys. Despite the belief that both sides want to work something out, talks have been slow. Teams can begin officially negotiating with their own unrestricted free agents on Saturday.
Ndamukong Suh, defensive tackle, Detroit
The Lions will let the disruptive tackle test the free agency waters. Placing a the franchise tag on the second overall pick in the 2010 NFL Draft would have cost the team $26.9million. Suh has 36 career sacks and was the NFL’s Offensive Rookie of the Year in 2010. He made the first of his four Pro Bowls that season. The Lions would like to keep Suh and can begin negotiations on Saturday, but other teams can enter the fold on March 10.