Kirk Cousins of the Washington Redskins became the first quarterback to play under the franchise tag for a second consecutive season after failing to sign a long-term deal on Monday.
Cousins, who will made $23.9 million this season, and the Redskins can't negotiate a long-term deal until the season ends by virtue of being unable to come to an agreement by Monday's deadline.
"Our goal was to sign Kirk to a long-term contract with the final objective of having him finish his career with the Redskins," team president Bruce Allen said in a statement.
Allen said the Redskins made Cousins an offer on May 2 "that included the highest fully guaranteed amount upon signing for a quarterback in NFL history ($53 million) and guaranteed a total of $72 million for injury."
The deal would have made Cousins at least the second highest-paid player by average per year in NFL history, Allen said.
"But despite our repeated attempts, we have not received any offer from Kirk's agent this year," Allen continued. "Kirk has made it clear that he prefers to play on a year-to-year basis. While we would have liked to work out a long-term contract before this season, we accept his decision."
The 28-year-old is open to working a deal with the Redskins after this season, a source familiar with the situation told ESPN's Adam Schefter.
The Redskins can use the tag on him again next offseason for a third straight year, but it would cost the team $34.7 million to franchise him again for 2018. Cousins would be unable to negotiate with any other teams.
Cousins threw for 4,917 yards with 25 touchdowns and 12 interceptions in 2016 and also posted a 97.2 passer rating last season. Cousins' 12,113 yards in five seasons with Washington ranks sixth on the franchise's all-time passing yards list. He is 239 yards behind Billy Kilmer for fifth.