The franchise and transition player designations for the 2026 NFL free agency signing period contained a rarity as Indianapolis Colts quarterback Daniel Jones was listed as the latter.

Each franchise can only designate one ‘franchise’ or one ‘transition’ player among its veteran free agents, and the salary offer by the club determines whether the franchise player designation is exclusive or non-exclusive.

An ‘exclusive’ franchise player is not free to sign with another club, but is offered the greater of either the average of the top five salaries at his position as of the end of the restricted free agent signing period on April 17th, or the amount of the required tender for a ‘non-exclusive’ franchise player, based on a methodology known as the ‘Cap Percentage Average’ that takes into account multiple numbers, including the average of the five largest prior year salaries for players at the same position, the sum of the franchise tag salaries for the position for the five preceding league years, the sum of all salary caps for the five preceding league years and the salary cap for the upcoming league year which, in this case, has climbed $300m for the first time event. Alternatively, the player could be paid 120 percent of his prior year’s salary should it be greater than the convoluted Cap Percentage Average figure…

If a club nominates a non-exclusive franchise player, that player is permitted to negotiate a player contract with any club, with compensation of two first-round draft selections being made should he decide to sign elsewhere.

This year, no player was designated as an exclusive franchise player and, while three received non-exclusive franchise tags, it was Jones who captured the headlines as the Colts opted to dust off the seldom-used transition tag.

The tag guarantees the Colts the right of first refusal on Jones, preserving their ability to match any competing offer sheet he might sign with an interested club. If Jones does not sign a competing offer sheet, he would earn a one-year guaranteed salary of $37.833m from Indy.

Colts general manager Chris Ballard has intimated that contract talks with both the quarterback — who led the Colts to an impressive 8-1 start last season — and wide receiver Alec Pierce — assumed to be a highly-valued free agent by rival teams — were moving in the right direction, but admitted that using the tag on Jones was a ‘need’ rather than a ‘want’.

No quarterback has received a transition tag in the past 25 years, and only 20 players of any position has seen it applied. Only four players have played an entire season under the transition tag since 2000.

The three players to receive non-exclusive franchise tags were Atlanta Falcons tight end Kyle Pitts, Dallas Cowboys receiver George Pickens and New York Jets running back Breece Hall. All three could sign new deals before being used as trade bait, but it is more likely that, if contracts are inked, they will remain put for 2026.