The New York Jets and running back Breece Hall face a Tuesday 4 p.m. deadline to agree on a multiyear contract extension. If an agreement is not reached, Hall will be assigned either the franchise tag or the transition tag to prevent him from reaching free agency, as confirmed by General Manager Darren Mougey.
The imposition of a tag would establish a salary floor for Hall’s contract, potentially lessening the urgency for both parties to finalize a deal, according to an NFL agent. Hall might opt to await further developments in the running back market.
Tag Options Explained
The Transition Tag
The transition tag is valued at $11.3 million and grants the Jets the right of first refusal, meaning they can retain Hall by matching any contract offer he receives from another team. If the Jets do not match an offer, they receive no compensation.
This tag is rarely utilized, with only six players having been transition-tagged in the past decade, and none receiving an offer from a competing team since 2018.
The Franchise Tag
The more common franchise tag is valued at $14.3 million. This tag would require any other team signing Hall to surrender two first-round draft picks to the Jets, a scenario that effectively removes him from the free-agent market.
Market Impact and Valuation
Joel Corry, a CBS Sports contracts analyst and former agent, suggested that Hall could benefit from waiting to see the contract outcomes for other prominent running backs such as Kenneth Walker, Jahmyr Gibbs, Bijan Robinson, and Devon Achane, believing their deals could collectively elevate the running back market.
An agent indicated that the two tag amounts represent the potential top and bottom of the range for the 24-year-old Hall's average annual value. A hypothetical midpoint between these figures would result in an average of $12.8 million per year. High-end running back contracts typically span three or four years and include significant front-loaded guaranteed money.
Based on current figures from OverTheCap.com:
- A franchise tag would place Hall as the third-highest paid running back by average annual value.
- A transition tag would place him as eighth.
- A split deal would place him as fifth.
The top four highest-paid running backs are Saquon Barkley ($20.6 million), Christian McCaffrey ($19 million), Derrick Henry ($15 million), and Jonathan Taylor ($14 million).
Player Leverage and Deadlines
Being tagged and signing the tender are distinct actions. Hall could choose to remain unsigned and not participate in offseason activities without penalty, using this as leverage in negotiations. The Jets have the option to rescind an unsigned tag at any point, though this is an uncommon move that could create internal team friction.
Franchise-tagged players have until July 15 to negotiate extensions, while transition-tagged players have approximately one week longer. After these respective deadlines, the one-year tender becomes the only available contract option.
Potential Suitors
If Hall were to receive the transition tag, potential teams that might attempt to sign him include the Chiefs, who reportedly made an offer for him at last year's trade deadline, as well as the Saints and Commanders.
Performance and Financial Standing
Despite his 2022 draft classmates James Cook and Kyren Williams signing extensions prior to last season, Hall delivered a productive 2023 season. He achieved over 1,000 rushing yards and ranked 14th in the NFL with 1,415 yards from scrimmage. He also contributed five of the Jets' 26 offensive touchdowns. Hall earned $9 million over his initial four seasons.
The Jets currently hold $88.7 million in salary cap space, ranking third in the league, allowing for substantial roster adjustments under the current General Manager Darren Mougey and Head Coach Aaron Glenn regime.