Tuesday, March 5 was the deadline for NFL teams to use the franchise or transition tags on their respective players who were set to enter free agency when the new league year begins next week. There are three tags available to teams: 1. Exclusive Franchise Tag, 2. Non-Exclusive Franchise Tag, and 3. Transition Tag. When the dust settled, a total of nine players were tagged: eight non-exclusive franchise tags and one transition tag. No player received the exclusive tag.

Below, we’ll break down which players received which tags, which are set to enter free agency, which re-signed with their respective teams ahead of free agency, and what it all means for the 2024 fantasy football season.

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NFL Franchise & Transition Tags

2024 NFL Non-Exclusive Franchise Tags

2024 NFL Transition Tags

Tee Higgins (WR – CIN) – not expected to be moved on the franchise tag

Bengals director of player personnel Duke Tobin said the team doesn’t plan on trading Tee Higgins.

“Really simple. He’s a good player. We want to keep him. We have resources to do that,” Tobin said. He added that they’re a better team with Higgins. The Bengals will run it back with the trio of Higgins, Ja’Marr Chase and Joe Burrow.

Higgins recorded 42 receptions from 76 targets, covering 656 yards with a notable average of 15.6 yards per reception. Demonstrating his big-play ability, Higgins had 14 receptions of 20+ yards to go along with a team-high 37% air yards share (17th) on just an 18% target share. He scored 5 touchdowns. Playing in 12 games, Higgins accumulated 116.6 fantasy points, averaging 9.7 points per game (WR40). He dealt with injuries throughout the season and failed to finish as a fantasy WR2 for the first time in the last three seasons. Ergo, 2023 stands out like a complete outlier for the 25-year-old WR.

Michael Pittman (WR – IND) – receives franchise tag

Colts GM Chris Ballard said that Michael Pittman Jr. will be on the roster come Week 1, either by an extension or the franchise tag if necessary.

Pittman was slated to potentially be one of the bigger-name wide receivers in free agency this offseason, but it appears he’ll remain with the Colts one way or another. He dealt with some head injuries last season, but caught 109 passes for 1,152 yards and four touchdowns. Anthony Richardson (shoulder) remains on track to have a chance of being healthy by Week 1 next season. Pittman and the Colts are continuing to work on a long-term deal. The team’s number one wide receiver option is set to early $21.82M in 2024 if he plays on the franchise tag.

Pittman proved his alpha status all year long in the Colts offense with 109 receptions (7th) on 156 targets, accumulating 1,152 yards, averaging 10.6 yards per catch. Like Josh Downs, he had an equally bad TD production with only 4 TDs. Even so, in 16 games, racking up 195.7 fantasy points (WR15 overall), which averages out to 12.2 points per game (WR19). Nearly 1300 air yards (33% air yards share), with a 30% target share to boot – 4th-highest among all WRs. Pittman comes with a super-high floor that could be further unlocked with better TD variance in 2024.

2024 NFL Players Not Tagged

* Mike Evans (WR – TB) – agrees to two-year deal with Tampa Bay

Mike Evans has agreed to a two-year, $52 million deal to stay with Tampa Bay.

Evans has spent his entire career with Tampa, and it looks more and more likely he will finish it there. The speculation was he would enter free agency and test the market, but he is staying put with the team that drafted him. He’ll be the unquestioned top wide receiver for next season for whomever the Bucs bring in at QB, whether Baker Mayfield or a new face in 2024.

Evans ranked as the WR4 Iin 2023, totaling 239.3 points (14.4 per game, WR8). He caught 76 passes for 1,233 yards and 13 touchdowns, displaying his scoring prowess with a long catch of 75 yards.

BREAKING: WR Mike Evans has agreed to a new two-year, $52 million deal with the #Buccaneers, according to @AdamSchefter pic.twitter.com/KnHhtWsXrY

— FantasyPros (@FantasyProsNFL) March 4, 2024

Saquon Barkley (RB – NYG) – will not be franchised by New York

Saquon Barkley will not be franchise-tagged by the Giants. He will be able to test the market as a free agent.

Barkley’s career as a Giant is seemingly at a close. Though he struggled with injury at times, when healthy he has been one of the most talented and capable backs in football. The running back market is uncertain, but as a top talent, he’s sure to garner interest from running back-needy teams.

While the overall counting stats for Barkley look depressed, he’s still very much an every-down bell cow with juice left in the tank entering his age-27 season. Last season, he played at least 70% of the snaps in 11 of his 14 games while ranking second in opportunity share and ninth in weighted opportunities. Last season, Barkley was still an explosive player, ranking 17th in explosive run rate, but his tackle-breaking metrics took a hit as he was 37th in missed tackles forced per attempt and 33rd in yards after contact per attempt (minimum 50 carries per Fantasy Points Data). Assuming that he lands with a team in free agency where he retains his workhorse role, he should remain an RB1 this year.

What do the different tags mean?

From NFL.com:

Exclusive franchise tag: Unlike the non-exclusive version, the tagging team retains the sole right to negotiate with the player. The exclusivity raises the pay scale (current average salary versus averaging of the previous five years). This is a one-year tender offer of the average of the top five salaries at the player’s position for the current year, or 120 percent of his previous salary, whichever is greater. Few receive the exclusive tag. Generally, players for whom other teams would gladly give up two first-round picks receive this version of the tag — read: quarterbacks.

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