Locked On NFL – Daily Podcast On The National Football League

DRAMA: Indianapolis Colts TAG Daniel Jones, Bengals Let Hendrickson WALK & Kyler Murray RELEASED

Mar 4, 2026

Drama around the franchise tag dominates the show. The Colts tag Daniel Jones and risk losing key pieces like Alec Pierce. Bengals let Trey Hendrickson walk, weakening their pass rush. The Jets tag Breece Hall amid trade talk. Kenneth Walker is free to go from Seattle. Kyler Murray is released and expected to draw heavy interest on the open market.

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INSIGHT

Colts Put Transition Tag On Daniel Jones

The Colts used the transition tag on Daniel Jones to buy time while trying to negotiate a multi-year deal.
The tag costs $37.8M against the cap and prevents Jones from hitting free agency unless another team makes an offer the Colts decline to match.

INSIGHT

Tagging Jones Risks Gutting Colts Roster

Tagging Jones may force the Colts to prioritize his contract over retaining other roster pieces and limit their free-agent flexibility.
Tyler Rowland warns the move could lead to cutting or restructuring key players like Michael Pittman Jr. or Grover Stewart to create cap space.

ADVICE

Use Extensions To Create Immediate Cap Relief

To manage the cap hit, negotiate smartly: extend players like Quentin Nelson to convert base salary into signing bonus and free immediate space.
Luke Braun suggests extensions can be timed to keep core players without cutting major contributors.

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The NFL Franchise Tag deadline has come and gone and we have DRAMA. The Indianapolis Colts put the transition tag on Daniel jones in an attempt to keep him around but in the process they have sacrificed other talent on the roster like Alec Pierce, who could now walk in free agency or Michael Pittman Jr, who could be cut to save money to keep Pierce and Jones. This is a dangerous game for Indy. Other franchise tag news included Trey Hendrickson NOT getting the tag from the Cincinnati Bengals in a move that is confusing and leaves the Bengals as a worse team in a critical year. The New York Jets did place the franchise tag on Breece Hall in another move that doesn't make much sense unless it ends with a trade, which is still on the table. Kenneth Walker won't get the tag and is set to leave the Seattle Seahawks in free agency. Finally, Kyler Murray will be released by the Arizona Cardinals and will have no shortage of suitors on the free agent market.

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