As had been expected, the New York Giants have designated defensive end Jason Pierre-Paul as the team’s non-exclusive Franchise player. The deadline for designating a Franchise player was today, March 2. A Franchise tag binds an unrestricted free agent to the team for one year if certain conditions are met. Each team may only designate one player each year as that team’s Franchise player.
There are two types of Franchise tags:
- An “exclusive” franchise player must be offered a one-year contract for an amount no less than the average of the top five salaries at the player’s position as of a date in April of the current year in which the tag will apply, or 120 percent of the player’s previous year’s salary, whichever is greater. Exclusive franchise players cannot negotiate with other teams. The player’s team has all the negotiating rights to the exclusive player.
- A “non-exclusive” franchise player must be offered a one-year contract for an amount no less than the average of the top five salaries at the player’s position for the previous year, or 120 percent of the player’s previous year’s salary, whichever is greater. A non-exclusive franchise player may negotiate with other NFL teams, but if the player signs an offer sheet from another team, the original team has a right to match the terms of that offer, or if it does not match the offer and thus loses the player, is entitled to receive two first-round draft picks as compensation.
Pierre-Paul will now count $14.813 million against the team’s $143.4 million 2015 adjusted salary cap (or more than 10 percent of the cap), unless the Giants (1) remove the Franchise designation, (2) sign him to a longer-term deal by July 15, or (3) choose not to match another team’s tender offer (only appropriate if Pierre-Paul was designated on a non-exclusive basis).
According to The New York Daily News, a source told the paper that the Giants will continue to attempt to sign Pierre-Paul to a long-term deal, but the team is not afraid to play out the season on the $14.813 million salary.
In his fifth NFL season, the talented but inconsistent Pierre-Paul had his second-best year, starting all 16 games and finishing with 77 tackles, 12.5 sacks, six pass defenses, and three forced fumbles. Pierre-Paul played the run well most of the year and finished up strong as a pass rusher after a slow start, with nine of his sacks coming in the last five games of the season.
Teams are allowed to contact and enter into contract discussions with free agents of other teams on March 7, but cannot officially sign players from other teams until March 10.
Source says Giants will continue to try and sign JPP long-term after tag, but they're not afraid to let him play out 2015 for $14.813M.
— Ralph Vacchiano (@RVacchianoNYDN) March 2, 2015