How Much Could Placing the Franchise Tag on Josh Allen Cost the Jaguars?

With the NFL's franchise and transition tag window opening at 4 p.m. on Tuesday, all eyes in Jacksonville are on star pass-rusher Josh Allen.

Allen is widely projected to receive the franchise tag some time over the next several weeks, with the Jaguars doing everything they can to prevent one of the NFL's best pass-rushers from hitting the open market. 

If Allen does get tagged, there are a few different outcomes. One could be the Jaguars then work out a long-term deal with Allen, lowering his 2024 cap hit compared to what the one-year tag would mean. 

Another scenario, though, is Allen plays the 2024 season on the tag. And if that happens, Allen will still be one of the Jaguars' highest-paid players. But just how much would the tag cost? 

According to projections from OverTheCap, franchise tag numbers for Allen could come down to one of two figures. 

If the Jaguars designate Allen as a linebacker, the projected tag cost would be $22,748,000. In this scenario, Allen would be the No. 11 highest-paid EDGE in terms of annual value.

If the Jaguars designate Allen as a defensive end, the projected tag cost would be $20,205,000. In this scenario, Allen would be the No. 9 highest-paid EDGE in terms of annual value.

Whether Allen is classified as a defensive end or linebacker remains to be seen. Linebacker makes the most sense since that is the primary position Allen has rushed from the last three seasons, though he does also play as a defensive end and could be considered an end in new defensive coordinator Ryan Nielsen's sche,e. 

In 17 games this year, Allen recorded 17.5 sacks, a career-high 33 quarterback hits, a career-high 17 tackles for loss, two forced fumbles, and an interception. Allen also finished No. 5 among all EDGE players in pressures and No. 7 in win-rate.

"Haven’t started. Those negotiations will start," Jaguars general manager Baalke said last month.

"I know Josh wants to be here, I know we want him here. Can we come to a number that works for everybody? That’s the key. I respect that. Like I said last year with Evan’s (Engram) situation, you got to respect these guys that put themselves in this position. They work hard, they deserve to make good money. What that good means to them could be different than what it means to us. We just got to come together, sit down at the table and work things out.”

The last two years, the Jaguars have used the franchise tag as a mechanism to continue negotiations. It happened with Evan Engram last year before he signed a new deal ahead of training camp, and it happened with Cam Robinson in 2022 before he signed a new deal around the draft.

“I’m not going to commit to anything right now relative to the franchise tag. But at the same token, Josh Allen is going to be a Jaguar next year," Baalke said.