NEW YORK GIANTS PLACE FRANCHISE TAG ON JASON PIERRE-PAUL…
The New York Giants have placed the non-exclusive franchise tag on defensive end Jason Pierre-Paul. The Franchise tag tender guarantees Pierre-Paul a 1-year contract worth approximately $17 million. But Pierre-Paul may not agree to sign for those terms and hold out. On the other hand, the Giants and Pierre-Paul may still agree to a different multi-year contract. Pierre-Paul has made it clear he is seeking the latter.
If Pierre-Paul does not sign the tender, he will be able to negotiate a long-term contract with the Giants until July 15. After that date, Pierre-Paul will only be allowed to sign a 1-year contract with the Giants. The Giants can rescind the tag at any time. The downside of the tender for the Giants is it ties up $17 million of the team’s estimated $30 million in 2017 salary-cap space. The 2017 NFL salary cap is expected to be around $168 million.
A non-exclusive franchise player must be offered a one-year contract for the average of the five largest prior year salaries for players at the position or 120 percent of his prior year salary, whichever is greater. A non-exclusive franchise player may negotiate with other NFL teams, but if he 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.
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