What are the two main types of franchise tags available to teams?

The two main types of franchise tags available to NFL teams are the Exclusive and Non-Exclusive tags.

When a team employs an Exclusive franchise tag on a player, it guarantees that the player will remain with the team for that season and prevents them from negotiating with other teams. This type of tag typically offers a higher salary based on the average of the top five salaries at that position, providing the player with substantial financial security while also giving the team control.

On the other hand, the Non-Exclusive franchise tag also allows the player to stay with their current team, but it permits the player to negotiate with other teams. If the player signs an offer sheet with a different team, the current team can choose to match the offer and retain the player or receive two first-round draft picks as compensation if they decide not to match. The Non-Exclusive tag typically offers a lower salary than the Exclusive tag, based on the average of the top five salaries at the position from the previous year.

Understanding these two types of franchise tags is crucial, as they illustrate how teams can manage player contracts and leverage their rights to players while balancing financial implications and the competitive landscape of the NFL.