July 15 was the deadline for teams and player to come to terms on a longterm deal. Otherwise, they will have to play the 2016 season under the franchise tag. The biggest name that this impacted was Von Miller and the Denver Broncos. Miller said he wouldn’t play under the tag, and a deal was finally met at $70 million guaranteed.
Perhaps the second most notable name in this regard was Kirk Cousins of the Redskins. He had one decent campaign for Washington and wanted some longterm money. Washington had other plans. He will play this coming season for nearly $20 million on the franchise tag. He reportedly turned down $16 millon per year as part of a longterm deal. That sounds fair for Cousins, but maybe he saw Brock Osweiler get $18 million and scratched his head at the offer.
Just mentioned on @nflnetwork the Redskins' top offer to Kirk Cousins: $16m per year with about $24m in guarantees. Will play on $20m tag.
— Mike Garafolo (@MikeGarafolo) July 15, 2016