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A player who has not signed the tender can also not be traded. Each team can only use one tag each year -- they can't designate both a franchise and transition player. A rescinded tender counts as a tag, meaning a team can't designate one player, rescind it, and use a new tag on another player in the same year.
As Bell displayed last year, a player can simply refuse to sign the franchise or transition tag tender. However, that player is not able to play in the NFL unless the tender is signed.
Only one player per team, per season, can receive a franchise tag. It's either an average of the five largest salaries at the offered players' position at the end of restricted free agency this season, or 120 percent of the offered player's current salary whichever is greater.
Players may sign the tender at any point after officially being tagged. Until the tender is inked, the team can rescind the franchise or transition tag. Once the sheet is signed, the player's salary is guaranteed for that season.
The most common explanation for why players hate the franchise tag is the lack of security it offers compared with a long-term deal.
Consecutive franchise tags are allowed. However, for a player to be tagged two straight years, the team must pay 120 percent of the player's previous salary.
The “exclusive” franchise tag gives the offering team exclusive rights to the player. The player may sign his one-year franchise offer, at which point it becomes fully guaranteed (unless the player fails to stay physically fit).
In the National Football League (NFL), the franchise tag is a designation a team may apply to a player scheduled to become an unrestricted free agent. Each team only has one franchise tag (of either the exclusive or non-exclusive forms) and one transition tag per year.
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