3 Observations on Jaguars' Not Using Franchise Tag

JACKSONVILLE, Fla. -- As expected, the Jacksonvlle Jaguars did not make a move at the franchise tag deadline on Tuesday afternoon.

So, what do the Jaguars' non-actions ultimately mean for the Jaguars' big-name duo of linebacker Devin Lloyd and running back Travis Etienne? We break it down below.

Lloyd now has any leverage that exists

The Devin Lloyd situation does not look very complicated, and it never really has. The tag made no sense for Lloyd, considering it would have paid him over $25 million. But the tag was also the only way for the Jaguars to ensure Lloyd's deal did not expire when the free agency window kicks off next week. Now that it is no longer in play, Lloyd is the one who has all of the leverage moving forward.

If any leverage exists, of course. Lloyd can now freely test the market next week and very likely push the Jaguars well out of their ideal price range for the former first-round pick and the 2025 second-team All-Pro. But this has also kind of always been the expectation, and that is why few projections out there have had Lloyd re-signing with the Jaguars.

Etienne, Breece Hall Situations Can't Be Compared

travis etienn — Jacksonville Jaguars running back Travis Etienne Jr. (1) runs upfield in the fourth quarter during an NFL football game at EverBank Stadium, Sunday, Dec. 14, 2025, in Jacksonville, Fla. The Jaguars defeated the Jets 48-20. [Doug Engle/Florida Times-Union] | Doug Engle/Florida Times-Union / USA TODAY NETWORK via Imagn Images

With the Jaguars opting not to use the franchise tag on Etienne, it remains to be seen what will happen with the former first-round pick. The tag's price tag was clearly far more than what the market has dictated for running backs, though we did see one running back get franchise tagged with Breece Hall and the New York Jets.

With that in mind, there were not many similarities at play between Etienne and Hall outside of how talented they are. The Jets have a ton of cap space and, frankly, very few players of their own to spend it on as they rebuild. They can afford to use it as a placeholder as they work toward a new deal with Hall. The Jaguars don't have the cap space, and they have more than a few key players who they need to set aside money for.

Will there be a 2026 candidate?

Speaking of those players, the Jaguars could have a few interesting potential franchise tag options in 2027. General manager James Gladstone has yet to use the franchise tag during his time with the Jaguars, but there also hasn't really been a scenario in which doing so would have made sense to this point. Will that change next year?

The biggest name to watch would be Travon Walker, but that of course is only under the condition that the Jaguars do not extend Walker by then. But the tag is common place for pass-rushers, and the Jaguars likely would not want to let Walker go anywhere. A Brenton Strange tag likely would not be all that costly, either.

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