The Washington Redskins placed a non-exclusive franchise tag on quarterback Kirk Cousins, a team source told News4’s Carol Maloney.
The source said there is a chance of getting a long-term deal signed by July 15, Maloney reported.
If no deal is reached, Cousins will earn $19.95 million for 2016 under the values agreed upon by the NFL and the players' union. He is one of the more high-profile players whose contracts have expired, and quarterbacks carry the biggest tag numbers.
The franchise designation is worth the average of the top five salaries at a player's position or 120 percent of the value of his 2015 salary, whichever is higher. Teams secure the rights to continue negotiations with that player even as the league's free agency period begins, which this year is March 9.
Tuesday is the deadline for teams to use the franchise or transition tag on a scheduled free agent.
After a slow start to the 2015 season, Cousins led the Redskins to the NFC East title, throwing for more than 4,000 yards, 29 touchdowns and 11 interceptions. His completion percentage of almost 70 percent led the league, and his quarterback rating of 101.6 ranked fifth in the league.
Cousins made $700,000 last season, his first as a full-time starting quarterback.