Jaguars fail to reach terms on deal, place franchise tag on Josh Allen

The Jacksonville Jaguars are placing the franchise tag on pass rusher Josh Allen, according to NFL Network’s Ian Rapoport.

The tag is due to pay Allen a fully guaranteed $24,007,000 for the 2024 season if the Jaguars can’t get a multi-year extension done before July 15.

Jaguars increased contract talks with Josh Allen’s reps making some level of progress on extension over last few weeks, per source. Not done, tag gives more time. Goal for both sides is long-term deal for Allen coming off incredible 17.5 sack year. Allen will be a Jaguar in 2024. https://t.co/SDxva4kOlN

— Cameron Wolfe (@CameronWolfe) March 5, 2024

While Allen is still be allowed to negotiate with teams as a free agent next week, the tag means the Jaguars will have the opportunity to match any offer he receives. And if Jacksonville declines to match an offer, Allen’s new team would owe the Jaguars two first-round picks.

Those circumstances are rare, though, and the franchise tag almost certainly means Allen will be with the Jaguars in 2024.

The decision to tag Allen is far from good news for the Jaguars, though. It represents a failure to reach terms on a long-term deal with their star defensive player, which threatens to permanently strain the relationship if a contract can’t be reached by July.

The use of the tag on Allen also means the Jaguars won’t be able to use a tag to retain wide receiver Calvin Ridley, who is now just a week away from becoming a free agent. While the team could still re-sign Ridley, it’s a delicate situation made complicated by the terms of the trade and the burgeoning market for the receiver.

Still, the bright side for Jacksonville is that it won’t lose Allen in 2024. The former top 10 draft pick earned Pro Bowl honors for the second time in his career when he racked up 17.5 sacks in 2023, second most in the NFL.

It’s the 11th time the Jaguars have used the franchise tag to keep a player and the fifth straight offseason.