The Indianapolis Colts placed a transition tag on quarterback Daniel Jones, and the New York Jets used the franchise tag on running back Breece Hall as teams missed Tuesday’s deadline to tag potential free agents.
The Colts decided to use the $37.8 million transition tag instead of the $43.9 million franchise tag, opening the possibility of him leaving without compensation to Indianapolis. Jones can sign an offer with another team once free agency officially begins on March 11, and the Colts will have five days to play or allow him to leave.
Hall received a $14.3 million franchise tag from New York, meaning he will receive two first-round picks in compensation if the Jets don’t match a potential offer sheet.
Dallas receiver George Pickens and Atlanta tight end Kyle Pitts placed the franchise tag well before the deadline.
A total of four tags surpassed last year’s total of two. An average of more than nine franchise tags were passed each year from 2020-24, with two other players receiving transition tags, the previous tag being passed to New England’s Kyle Dugger in 2024.
The Colts’ move means coveted receiver Alec Pierce could hit the open market next week if he doesn’t sign a contract with Indianapolis before the start of the new league year.
Among other prominent players who haven’t been tagged and could hit the open market next week are Cincinnati edge rusher Trey Hendrickson, Seattle’s Super Bowl MVP running back Kenneth Walker III, Baltimore center Tyler Linderbaum, Chargers edge rusher Odafe Oweh and Jacksonville running back Travis Etienne.
Jones had a promising start to his first season with the Colts, helping the team get off to an 8-2 start before being slowed by a leg injury and going down with a torn right Achilles tendon in a Week 14 loss to Jacksonville.
The Colts lost their final seven games of the season and missed the playoffs for the fifth straight season, becoming the first team to miss the postseason after starting a season better than 8-2 since the 1995 Oakland Raiders.
Jones set career highs in passer rating (100.2) and completion percentage (68%) as Indianapolis ranked fifth in the NFL with 28.9 points per game before going down with a season-ending injury.
Jones threw 19 TD passes with just eight interceptions while also rushing for 164 yards and five TDs.
The Colts are uncertain when Jones will be ready to play again after sustaining the injury on Dec. 7. The team has 2025 sixth-round pick Riley Leonard on the roster, and 2023 first-rounder Anthony Richardson has also been cleared to trade.
Hall, who turns 25 in May, was a second-round pick in the 2022 draft out of Iowa State but did not receive a contract extension like first-rounders Soth Gardner and Garrett Wilson last offseason. This created some uncertainty about Hall’s future with the franchise, and he was mentioned in trade rumors leading up to last year’s deadline.
But coach Aaron Glenn insisted the Jets want to keep Hall as the driving force of the offense. New York planned to use a three running back approach with Hall, Braelon Allen and Isaiah Davis sharing carries, but Allen suffered a knee injury and landed on injured reserve, leaving Davis as the clear second.
With new offensive coordinator Frank Reich, the Jets will be looking for a new quarterback this offseason, but Hall’s franchise tag gives New York the opportunity to continue his playmaking run out of the backfield while attempting to negotiate a contract extension.
Despite missing the final game with a knee ailment, Hall rushed for a career-high 1,065 yards in 2025, becoming the first Jets player to top 1,000 yards in a season since Chris Ivory in 2015. Hall has topped 1,000 yards from scrimmage for the third consecutive season, becoming just the sixth player and fifth running back in franchise history to do so.
“I’m willing to bet on myself,” Hall said on social media.
The only running backs in the NFL with contracts with a Hall average annual value of more than $14.3 million are Saquon Barkley, Christian McCaffrey and Derrick Henry, all former AP NFL Offensive Players of the Year.
Pickens’ tag is worth about $27.3 million next season as the Cowboys look to retain him after acquiring him in a contract from Pittsburgh last offseason.
Pickens, who turns 25 on Wednesday, set career highs in catches (93), receiving yards (1,429) and touchdowns (9) last season in one of the NFL’s best offenses. Dallas had the worst defense in the league and failed to make the playoffs for the second straight year with a 7-9-1 record.
Pitts’ tag is worth about $15 million next season. The fourth overall pick in the 2021 draft earned second-team All-Pro honors last season after recording a career-high 88 receptions and five touchdowns. His 928 receiving yards were the second most among NFL tight ends, behind Arizona’s Trey McBride.
Teams can sign long-term deals with players on the tag between now and July 15th. Otherwise, the player will only be able to play on a one-year contract until 2026.
