The 2021 NFL offseason is beginning in earnest as teams start applying the franchise or transition tag to players entering free agency. The tag can be applied from now until 4 p.m. ET, Tuesday.
The franchise tag binds the player to the team for one season. Franchise tag figures are based on the top five salaries at each position. The NFL and NFL Players Association agreed to raise the salary-cap floor from $175 million to $180 million. The salary cap could settle between $180 million and $185 million, a sizable drop from the 2020 cap of $198.2 million, according to ESPN's Dan Graziano.