The window for NFL teams, including the Indianapolis Colts, to utilize the franchise tag is now open from February 18th through March 4th.
However, as we discussed in another recent article, the Colts aren’t likely to utilize the franchise tag this offseason.
As of now, dating back to 1993, when the franchise tag was first implemented league-wide, the Colts have utilized the franchise tag on only seven occasions.
That most recently happened just last offseason, when the Colts placed the franchise tag on wide receiver Michael Pittman. But, as is often the case, the two sides would end up reaching a contract extension and did so less than a week after the tag was applied.
Before that, the last Colts player to receive the franchise tag was punter Pat McAfee back in 2013. Prior to Pittman and McAfee, here are the other five Colts players to receive the franchise tag:
DE Robert Mathis (2012)
QB Peyton Manning (2011)
DE Dwight Freeney (2007)
QB Peyton Manning (2004)
TE Marcus Pollard (2001)
Each offseason, every NFL team has the opportunity to utilize the franchise tag on one of their unrestricted free agents. The franchise tag is a one-year deal and it makes that player among the highest paid at their position group for that season.
While there’s big financial benefit to being tagged, most players aren’t looking to play under the franchise tag because there is no long-term security with it being just a one-year contract.
Oftentimes, however–like with Pittman–the usage of the franchise tag provides the team and the player additional time to negotiate a long-term deal rather than having to reach an agreement with free agency looming.