We're a little over an hour away from the deadline for teams to designate a player with the Franchise Tag, which pays the selected individual the average of the top five highest paid players at the position.
Teams will use the tag for a myriad of different reasons, but most often it's to gain leverage in further negotiations. Players have the option to not sign the deal, but they'd be negating a hefty some of guaranteed money. Still, should a player sign, teams have until July to work out a long term contract to reduce the salary cap number, so for a number of teams it's just a tool to keep their Free Agents from hitting the open market.
The Miami Dolphins have just designated 2-time Pro Bowler DT Randy Starks with a tag that carried a cap hit north of $8 million. There's still talk that a deal could get worked out, but the 29 year old is getting up there in age and this could serve as a pay for play situation.
Another tag coming is for Dallas Cowboys DL Anthony Spencer. Mixed reviews are coming from NFL pundits, but it keeps a hole from forming and allows them to focus their draft elsewhere.
One interesting situation in particular is that of Tennessee Titans TE Jared Cook. The team would have liked to slap him with the tag, but Cook and his agent are making the case that he would need to be tagged as a WR because of the extensive time he played split out in the slot. If they succeed, it would make the figure skyrocket to $11 million, likely meaning Cook will hit Free Agency.
Other names to keep an eye out on are DE Michael Johnson of the Bengals who's coming off a breakout performance and Chiefs WR Dwayne Bowe
Keep in mind, last second deals get made all the time as teams threaten agents with the Franchise Tag, so expect a flurry to come out shortly.
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