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Iirc, there are two types of franchise tags.
Exclusive and non exclusive.
He will be tagged with the exclusive version where we can't trade for him unless we pony up 3 firsts and doing so, the player is only on a one year contract being we can't negotiate until the fade is finalized.
There is a non exclusive franchise tag that allows other teams to negotiate with the player and his team can match or let him leave and the team trading for him has to pay 2 firsts for his services if traded.
Again, going off memory for all that.
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