Will Texans Use Franchise Tag Ahead of March Deadline?

The NFL's franchise tag deadline is March 5, and the Houston Texans have two days left to prevent one of their pending free agents from hitting the open market.

INDIANAPOLIS -- The Houston Texans are ten days away from evaluating talent on the free agency market. However, they have two days to decide whether or not to use the franchise tag on one of their 25 pending free agents. The deadline is March 5.

Jonathan Greenard and Dalton Schultz are the prime candidates who could receive a franchise tag to continue their tenure in Houston. But when it comes to determining if any of the respective players are worth the tag, general manager Nick Caserio believes the possibility has to be a part of the team's calculus.

Texans general manager Nick Caserio speaks at a press conference at the NFL Scouting Combine at Indiana Convention Center / Kirby Lee-USA TODAY Sports

"It's really a fixed number — anytime you assign a tag to a player, it's essentially, you're committed to that value," Caserio said. "It doesn't mean you can't work out a long-term contract extension with that player, but it's sort of a fixed number. 

"I would say kind of like I talked about a little bit earlier, it's almost a starting point in a negotiation. So, you have to figure out is that valuable, does that make sense, or let the player get to the open market, let the market dictate what the value is." 

Greenard recorded a team-best 12.5 sacks, which tied for 10th-best in the league while adding 52 tackles across 15 games during the 2023 season.

He also played a prominent role in the Texans' revamped run defense, where the team allowed 96.6 yards on the ground. They allowed an average of 150.0 rushing yards over the previous two seasons. According to Pro Football Focus, Greenard notched a run-defensive grade of 67.2.

Greenard wants to remain in Houston. And after a career year, the Texans could tag Greenard for $23.3 million for the 2024 season, according to Over the Cap.

Tagging Greenard would give Will Anderson Jr. an additional year to play alongside his mentor. But re-signing Greenard to a long-term deal could be more beneficial, given that his annual market value is $13.4 million for the next three years.

Tagging Schultz would cost the Texans a projected $12.0 million in comparison to the $11.3 million market value, according to Spotrac.

Retaining Schultz would give quarterback C.J. Stroud a chance to continue playing alongside one of his most prominent targets. He established himself as one of Stroud's best options in the passing game, as Schultz posted a career-best 635 yards on 59 catches and five touchdowns.

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"We have some flexibility relative to financial commitments that we might be able to make, but you don't necessarily have to use all your money up in one year," Caserio said. "We’ve tried to – I’ve talked about this previously, you really look at your team in sort of two-year increments, so whatever you don't do this year, that money is going to be used in future years."

Houston is entering free agency with nearly $70.0 million in salary cap space. Placing the franchise tag would give the Texans flexibility to explore a potential upgrade next off-season through the draft or free agency at each position.

According to Aaron Wilson of KPRC, Greenard and the Texans have mutual interest, but the soon-to-be free agent will test the market starting on March 13. Houston wants to retain Schultz, and a franchise tag could be a realistic option for the two parties.