If the Seattle Seahawks bring star running back Kenneth Walker III back for the 2026 season, they will likely have to do so through free agency. The team is unlikely to use its franchise tag on the Super Bowl MVP, according to ESPN, as it works to retain multiple standouts from its championship-winning roster. The window to use franchise or transition tags is now open and runs through March 3, and Walker was viewed as the Seahawks’ most likely tag candidate.
Placing a franchise tag on Walker would cost the Seahawks $14.1 million, and while they have ample cap space, ESPN reports that Super Bowl taxes will likely cause the team to avoid using its tag altogether. General manager John Schneider has only used the tag twice in his 16-year tenure.
Walker will become an unrestricted free agent next month and projects as one the best players on the market. He exhausted his rookie contract at the end of the 2025 season and will be in for a sizable pay raise after carrying a $2.7 million cap number during his fourth year in Seattle. If the Seahawks were to use the franchise tag on Walker, he would become the fourth-highest-paid running back in the league behind only Saquon Barkley, Christian McCaffrey and Derrick Henry.
That is a high value for a running back who handled 43.6% of his team’s carries during the regular season. Zach Charbonnet continued to cut into Walker’s workload during a breakout season in which he racked up a team-high 12 touchdowns. But when Charbonnet suffered a season-ending torn ACL, Walker proved his ability to put an offense on his shoulders.
Walker averaged 139 scrimmage yards per game in the postseason and scored four touchdowns during the Super Bowl run, nearly matching the five he tallied in the regular season. He was integral in the Super Bowl victory itself when he rushed for 135 yards against the stout New England Patriots front and became the first running back to win the game’s MVP honor since 1997.
Even if he hits the open market, Walker could reasonably return to Seattle for 2026 and beyond.
“I’ve been here four years, so I’ve gotten to know a lot of stuff about Seattle, and a lot of the city, and I feel like they feel good about me as well,” Walker mentioned this month. “If it was my choice, though, I’d definitely stay.”
Coach Mike Macdonald mentioned the Seahawks “of course” want Walker back. Making that happen while retaining other key free agents and potentially extending star wide receiver Jaxon Smith-Njigba is the challenge.
If Walker and the Seahawks cannot come to terms on a new deal, the Michigan State product would become a top priority for running back-needy teams. The Jacksonville Jaguars, New York Jets, Carolina Panthers and Kansas City Chiefs are among those to watch as their ballcarriers hit free agency, as well.
