How does the franchise tag work?
Each team has the ability to use the franchise tag on one of its pending free agents each offseason.
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If applied, a franchise tag is essentially a one-year contract. The contract amount is predetermined and takes into account what position the tagged player plays.
According to Over the Cap, “franchise tag figures are based on the five highest salaries in each respective position.”
Which players could the Colts use the franchise tag on?
Daniel Jones and Alec Pierce are the two candidates for the franchise tag for the Colts.
With any of these players, the goal of using the franchise tag is not for Jones or Pierce to play the 2026 season on that deal. For one thing, that’s not a cap-friendly option for the Colts, and both players want long-term deals.
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But what using the tag does accomplish is that it prevents the tagged player from reaching free agency, which then gives him and the Colts a longer negotiating window.
We saw the Colts use this tactic in 2024 with Michael Pittman. Just over a week after the tag was applied, the two agreed to a contract extension.
According to CBS Sports Jonathan Jones, the Colts are “destined” to use the franchise tag this offseason, and Jones is the “priority.”
What are the franchise tag amounts for 2026?
With the help of Over the Cap, here’s a positional breakdown of the 2026 franchise tag numbers:
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This article originally appeared on Colts Wire: Colts’ Alec Pierce and Daniel Jones Franchise Tag Candidates