Report: Kenneth Walker III not expected to receive franchise tag from Seahawks, and here’s why

Just nine days after Kenneth Walker III hoisted the Super Bowl MVP trophy, the business side of the NFL has officially entered the chat. The Seattle Seahawks have reportedly decided not to place the franchise or transition tag on star running back Kenneth Walker III. While the team has until March 3 to officially pivot, league insiders including ESPN’s Adam Schefter suggest the Seahawks are prepared to let the Super Bowl LX MVP test the open market.The franchise tag for running backs in 2026 is projected to be a fully guaranteed $14.5 million. For a Seattle team already navigating a massive $37.9 million cap hit for QB Sam Darnold and a defense full of stars seeking raises, that one-year price tag is a heavy burden. Under GM John Schneider, the Seahawks have historically avoided the tag, using it only twice in 16 seasons.Winning a championship is expensive. General Manager John Schneider now faces a "good problem": a roster full of players whose value skyrocketed during the title run. The team is reportedly prioritizing long-term security for its younger core:Despite Walker’s historic Super Bowl performance—135 rushing yards, the most by an MVP running back since 1998, the NFL remains hesitant to overpay at the position. However, Seattle’s decision is particularly risky because Zach Charbonnet is currently recovering from an ACL tear suffered in the Divisional Round. By skipping the tag, the Seahawks are betting that they can either negotiate a more manageable multi-year deal with Walker or that the market won't meet his rumored $15M+ annual asking price.Seattle wants Walker back, but they want him on their terms. By forgoing the tag, they are daring the rest of the league to set the price for a Super Bowl MVP in a devalued running back market.