The New York Giants and three-time Pro Bowl safety Landon Collins are not currently in active negotiations on a contract extension, according to ESPN's Josina Anderson.
Collins, 25, is currently scheduled to become an unrestricted free agent when the period opens on March 13. Before that happens, though, Anderson's ESPN colleague, Adam Schefter, believes that Collins is good candidate to receive either a franchise tag or a transition tag ahead of the March 5 deadline to do so.
Here's an excerpt from an NFL.com article which explains the differences between the tags:
"Non-exclusive franchise tag: This is the most commonly used tag. When most people refer to the "franchise tag" it's generally the non-exclusive version to which they are discussing. It is a one-year tender offer to a player for an amount no less than the average of the top five salaries at the player's position over the last five years, or 120 percent of the player's previous salary, whichever is greater. The player can negotiate with other teams. The player's current team has the right to match any offer, or receive two first-round picks as compensation.
"Exclusive franchise tag: A one-year tender offer to a player for an amount no less than the average of the top five salaries at the player's position for the current year, or 120 percent of the player's previous salary, whichever is greater. The player's team has all negotiating rights to the player. The bump in pay scales (current average salary versus averaging past five years of data) means only the crème de la crème get this tag (think: Drew Brees or Von Miller).
"Transition tag: Think of this as the "you are pretty good, and we might want to keep you, but aren't willing to put a ring on you ourselves" tag. The transition designation is a one-year tender offer to a player for an amount that is the average of the top 10 salaries at the position -- as opposed to top five. It guarantees the original club the right of first refusal to match any offer the player might receive from another team, but no compensation if the team chooses not to match."
Collins recorded 96 tackles and four passes defensed in 2018.