Pencils down. The franchise tag window has slammed shut, with only four tags being placed in the two weeks teams had to utilize them.
Three players got the non-exclusive tag: Falcons tight end Kyle Pitts Sr., Cowboys receiver George Pickens and Jets running back Breece Hall. That tag means an outside organization can still offer a contract but must surrender two first-round picks if the tagging team doesn’t match. In other words, don’t expect any offers soon, guys.
The Colts, meanwhile, placed the transition tag on quarterback Daniel Jones.
With the tag window closing, here’s a look at who came out of the situation doing well, and who should be fretting about what did, or didn’t, take place.
Winner: Atlanta Falcons
Tight ends have one of the cheapest franchise tag numbers, above only running backs and kickers/punters. After having a 1,000-yard season as a rookie in 2021, Pitts failed to live up to the considerable hype which dogged him as the No. 4 pick. Then, in the fifth and final year of his initial deal, Pitts blossomed into a second-team All-Pro with 88 receptions, 928 yards and five touchdowns.
For new coach Kevin Stefanski and first-time general manager Ian Cunningham, keeping Pitts on the tag was a priority. Atlanta can afford the $15 million hit with a rookie quarterback on the books (and veteran Kirk Cousins at least somewhat coming off), giving Cunningham a few options.
The Falcons can either use the summer to extend Pitts before the July 15 deadline, or they can play out 2026 and see if Pitts has another top-tier year in him. If that’s the case, Atlanta can negotiate leading up to free agency next winter and, worst case, tag him again to provide more time and leverage.
Loser: Kyle Pitts Sr.
Conversely, this isn’t a tag Pitts wanted. After having an inconsistent five years with the Falcons, he produced at an All-Pro clip going into free agency.
Pitts, 25, also had the opportunity to do something most players will never do. He could have hit free agency not only as the top option on the open market at his position, but he would have done so in a year where there’s just one tight end seen as a first-round value in the draft (Oregon’s Kenyon Sadiq).
If Pitts had hit the market, he could have easily been paid like one of the top-five tight ends in football, which means something in the area of $15 million annually and $35 million guaranteed. Instead, he’s on a one-year, $15 million deal in total. If he doesn’t get a long-term contract and struggles in 2026, he’ll be looking at going into free agency with little momentum.
Winner: George Pickens
How much has Pickens’s star risen over the past 12 months? Last year, he was traded to the Cowboys from the Steelers for a third-round pick. Now? Pickens is on a franchise tag worth $27.2 million, paying out less than only a quarterback would make on the tag.
Pickens, who will turn 25 on Wednesday, earned second-team All-Pro and Pro Bowl honors for Dallas last season with 93 catches, 1,429 yards and nine touchdowns. With CeeDee Lamb alongside him, the Cowboys have an argument for the league’s best tandem of wideouts, with the Bengals presenting the strongest counterpoint.
With Pickens on the tag, owner and general manager Jerry Jones has to be prudent. Dallas is $56.1 million over the $301.2 million salary cap, having to be compliant by 4 p.m. ET March 11. Jones can make some quick fixes by cutting defensive back Malik Hooker and defensive tackle Kenny Clark, but that only frees up $28.3 million.
Of course, this all helps Pickens. He could be looking for a contract north of $30 million annually and $75 million guaranteed, something only nine wideouts across the NFL can claim (with Lamb being one of them). If Pickens were to sign for four years and $120 million as the Lions’ Amon-Ra St. Brown did in 2024, his 2026 cap hit could be halved.
Jones has to save money quickly. One of the easiest ways to do it? Pay Pickens now.
Loser: Breece Hall
If there’s one situation that could be fascinating in the coming months, it’s this one.
Last November, the Jets almost dealt Hall at the trade deadline, with New York looking for a third-round pick as compensation, according to multiple reports. Ultimately, Hall stayed and produced his first 1,000-yard season. Now, only days away from becoming a free agent in a year with Notre Dame’s Jeremiyah Love and no other notable backs in the draft, he was tagged, keeping New York in control of his future.
Hall, 24, would have been one of the top free agents regardless of position, and could have chosen to play for a winning organization on a top-end deal. Instead, he’s stuck with a one-year contract on the Jets, who during his four seasons have gone a robust 22–46 with zero playoff appearances.
It’s fair to wonder whether Hall will decide not to sign the tag and instead try to force a trade by holding out through some or all of the offseason program. For New York to avoid that embarrassment, it might have to pay top dollar for Hall on a second contract.
Winner: Odafe Oweh
It’s not surprising the Chargers aren’t using their tag on Oweh, but it’s something general manager Joe Hortiz could have done, considering Los Angeles has more than $80 million in cap space.
Oweh, 27, had 7.5 sacks across 12 games with the Chargers after being dealt five games into the season by the Ravens. He had 10 sacks in Baltimore in 2024. Still in the prime of his career, Oweh is the rare pass rusher who has a chance to test the market and drive up a bidding war.
After not receiving the franchise tag, Oweh has the leverage of either waiting for the Chargers to offer an acceptable deal, which would keep him from testing free agency, or testing the market as arguably the second-most coveted edge rusher after the Bengals’ Trey Hendrickson.
Loser: Baltimore Ravens
At the combine, a seemingly irritated Eric DeCosta told reporters that the Ravens had offered Pro Bowl center Tyler Linderbaum a market-setting deal to no avail. Now, with less than a week until teams can begin bidding for his services, Baltimore should be sweating a bit.
DeCosta, the Ravens’ general manager since 2019, has to know that should Linderbaum get to free agency, there’s a good chance he’ll never play another game in black and purple. Two teams, the Giants and Chargers, both have ample cap space, a major need at center and Baltimore connections in coach John Harbaugh and general manager Joe Hortiz. Either would love to get their hands on Linderbaum, who would represent a massive upgrade on a pair of struggling offensive interiors.
Linderbaum is in the conversation with Creed Humphrey and Cam Jurgens as elite, young centers who are worth premium contracts. It wouldn’t be surprising to see Linderbaum sign for more than $80 million, a record-setting deal if it comes together.
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This article was originally published on www.si.com as 2026 Franchise Tag Deadline Winners and Losers.
