Will the Indianapolis Colts utilize the franchise tag this year? They have a couple of legitimate options.
INDIANAPOLIS, Ind. — Today is the day that the NFL's franchise tag window opens.
Beginning Tues., Feb. 17, until Tues., March 3 at 4:00 p.m. ET, teams may designate a franchise or transition player. The franchise tag is a one-year contract worth the average of the top five salaries at the player's position. The transition tag is an average of the top 10.
The transition tag is seldom used, whereas the franchise tag is used annually by teams across the league. The Indianapolis Colts last used it in 2014 on wide receiver Michael Pittman Jr. before agreeing to a multi-year deal with him shortly after.
The Colts do have a couple of candidates for the franchise tag this offseason in quarterback Daniel Jones and wide receiver Alec Pierce, although the team would prefer to lock both up to multi-year contracts. The one-year tag for Jones is worth $47.3 million, and the tag for Pierce is $28.8 million.
Jones has completed his first year in Indianapolis, a season in which he resurrected his career after being released by the New York Giants in 2024.
He reached several personal bests in 2025 before a torn Achilles tendon ended his season prematurely. Jones' win percentage (61.5%), completion percentage (68.0%), passing yards per attempt (8.1), passing yards per game (238.5), passer rating (100.2), and QBR (63.1) were all single-season career highs. He was also on pace to set new marks in completions, pass attempts, passing yards, passing touchdowns, and passing first downs.
Pierce completed his four-year rookie contract after being made a second-round pick by the Colts in 2022.
He has not only become the poster child for Colts general manager Chris Ballard's draft-and-develop success stories, but he's also become the team's best receiver. Pittman and Josh Downs are both fitting for their roles, but the biggest difference-maker in the Colts' offense has been Pierce. For two consecutive years, he has led the NFL in yards per catch, culminating in his first 1,000-yard season in 2025. Pierce is improving as an all-around receiver, but his ability to take the top off of defenses is unmatched.
The NFL's free agency open market begins on Mon., March 9, when teams may begin negotiating with outside players. Teams may officially begin signing those players at 4:00 p.m. on Wed., March 11.
Teams that designate a franchise or transition player have until 4:00 p.m. ET on Wed., July 15, to sign that player to a multi-year deal. Otherwise, that player must play on the tag or a different one-year agreement with the team. The player cannot be extended again until the conclusion of the team's regular season.
Jake Arthur has been covering the Indianapolis Colts for over a dozen years and is a member of the PFWA. He's one half of the Locked On Colts podcast and has worked for the Colts' official website, On SI, and more. You can follow him on X @JakeArthurNFL.