NFL franchise tag deadline winners, losers: Which players, teams fared best?

The NFL’s annual game of tag has come to an end – and four guys are it.

The league’s deadline to apply franchise and transition tags, mechanisms designed to reward pending free agents while simultaneously hindering their ability to test the market, expired March 3 at 4 p.m. ET. Aside from Jets RB Breece Hall, Colts QB Daniel Jones, Cowboys WR George Pickens and Falcons TE Kyle Pitts, every other NFL player on an expiring contract is now free to test the free agent market – its negotiating window set to open March 9 (new deals can be signed March 11).

As for those who got tagged? Some will win, some will lose, some are born to sing the blues:

WINNERS

Daniel Jones

The Colts quarterback – at least until he ruptured his Achilles last December – received the transition tag Tuesday, the first QB to get one since 1996. And while it stands to reason Indy will find a way to keep a quarterback who had a career year in 2025, despite the injury, and had revitalized the club to that point, this development is also pretty good news for Jones. The tag ensures Jones will make $37.8 million in 2026 … if he plays on it. But given the Colts wouldn’t receive any compensation if another team tries to pry Jones away – little reason for other teams not to consider offer sheets that could only escalate his market in a year when QBs should be in high demand.

we have placed the transition tag on QB Daniel Jones.

— Indianapolis Colts (@Colts) March 3, 2026

Alec Pierce

Jones’ primary deep threat in Indy, Pierce avoided the tag after the Colts were compelled to use it on the quarterback. A second-round pick by Indianapolis in 2022, Pierce has led the NFL in yards per catch each of the past two seasons and is coming off his first 1,000-yard receiving campaign. Decent chance he re-signs with the Colts … better chance he takes the opportunity to fully explore his market first given he could make north of $20 million annually.

Trey Hendrickson

Worth wondering if he likes George Michael’s music – if so, Hendrickson surely has “Freedom” blasting after his financial battles with the Cincinnati Bengals in recent years. Despite being injured and missing 10 games in 2025, the 35 total sacks Hendrickson collected the previous two seasons should still earn him a massive contract.

Tyler Linderbaum

Despite fielding what Ravens GM Eric DeCosta deemed “a market-setting offer,” the three-time Pro Bowl center is set to go free – if only temporarily – and gauge what could be the most lucrative market anyone explores this offseason, and almost certainly so among non-QBs.

Kenneth Walker III

The Super Bowl MVP was not tagged by the Seattle Seahawks. He’ll get (financially) bagged quite handsomely, likely by another team. If he moves on, Walker would become the fourth Super Bowl MVP to switch clubs going into the subsequent season.

George Pickens

He’s guaranteed $27.3 million in 2026 if he plays on the tag!

LOSERS

George Pickens

If he plays on the tag, that presumably means a lengthy, failed negotiation with Dallas Cowboys owner Jerry Jones … and very likely an unhappy player expected to skip most, if not all, of the offseason.

Kenneth Walker III

Hard to believe the grass will be a brighter shade of Action Green (one of Seattle’s official colors) wherever he might head next – assuming he does. Also, much harder to believe he’ll be playing for another Super Bowl MVP next season in a different uniform.

Breece Hall

He wasn’t thrilled to see high-profile former teammates Sauce Gardner and Quinnen Williams leave the Jets at last year’s trade deadline – when it seemed Hall might also get liberated. But remaining hitched to, arguably, the league’s worst team maybe isn’t so bad when you’re guaranteed $14.3 million in 2026 – even if it’s not exactly Saquon Barkley-level lettuce – and might soon be a foundational piece of a much-improved roster if the NYJ can successfully convert all of their draft and cap capital over the next few years. If. At least Hall managed to keep any emotions out of his thumbs Tuesday.

Always been the type to bet on myself. Been working…see yall soon, Love🤞🏾

— Breece Hall (@BreeceH) March 3, 2026

Baltimore Ravens

Offensive line was a serious issue in Charm City last year, but now the team stands to lose Linderbaum, arguably QB Lamar Jackson’s most reliable bodyguard. But given tag values are formulated by the top-paid offensive linemen, DeCosta couldn’t well franchise Linderbaum and effectively afford him left tackle-caliber compensation.

Indianapolis Colts

By failing to get extensions done with Jones and Pierce, they’ll now be lucky to pay top dollar in order to retain both. And, don’t forget, GM Chris Ballard has no first-round pick this year after obtaining Gardner at last year’s trade deadline.        

This article originally appeared on USA TODAY: NFL franchise tag deadline winners, losers: Who fared best?