The Seattle Seahawks began the offseason knowing they had a key decision to make on Kenneth Walker III. Projections suggest Walker could command upwards of $14 million annually on the open market. This complicates matters for the Seahawks, particularly with backup running backs Zach Charbonnet and Kenny McIntosh recovering from torn ACLs.
Now, the Super Bowl 60 MVP appears headed for free agency.
Kenneth Walker III Likely to Hit Open Market as Seahawks Pass on Franchise Tag
As many expected, the Seahawks won’t use a franchise or transition tag on Walker before Tuesday’s 1 p.m. deadline, according to several reports. Peter Schrager confirmed that the Seahawks “will not” use the tag on the former second-round pick.
Super Bowl MVP Kenneth Walker will not be getting the franchise tag today, per sources. He will become a pure unrestricted free agent at the start of the league year. @ESPNNFL
— Peter Schrager (@PSchrags) March 3, 2026
The report signals that Walker III is set to become an unrestricted free agent when the negotiating window opens next week. He’ll be able to talk with other teams before signing, and although the Seahawks can still negotiate with him, he’s way more likely to test the market.
This move isn’t surprising for several reasons, and it’s even less surprising given that the Seahawks have usually been careful with franchise tags and that teams across the league have used them less in recent years.
According to PFSN Analytics’ projection based on Walker’s grades on PFSN’s RB Impact Metric, he is expected to get a three-year, $24.9 million deal with an annual average value of $8.3 million. This projection aligns with the current running back market, where younger, high-impact players are starting to secure better contracts after a few slow years.
Walker III was outstanding on the field during the Seahawks’ 2025 postseason run. Proving the running back’s dominance on the field, PFSN’s Cooper Kleinberg highlighted that “Across three playoff games, Walker averaged 4.8 yards per carry, 104.3 rushing yards per game, 34.7 receiving yards per game, and 4 total touchdowns.”
In 2025, the Super Bowl MVP rushed for 1,027 yards and grabbed 31 receptions. In addition, Walker III averaged 4.6 yards per carry and scored 5 rush touchdowns, and ranked 20th on PFSN’s Running Back Impact metrics.
Reports from the NFL Combine mention that whether the Giants land a player such as the Seahawks’ Kenneth Walker or Notre Dame’s Jeremiyah Love remains to be seen, but expect a strong push for established free-agent options, including Walker and others. Love is among the topics they are expected to discuss further in the draft process.
Beyond running back, the Giants spent considerable time in Indianapolis evaluating interior offensive linemen and tight ends. Those positions are expected to be priorities in free agency. If the Giants commit real resources to upgrading their supporting cast, adding a dynamic runner like Walker would fit that vision. For the Seahawks, this interest could give it some leverage in the open market. Just one aggressive bidder can raise the price for the running back.
It remains to be seen whether Walker III will stay with the Seahawks or pursue options with another team. However, in speaking about his future with the Seahawks, Walker III said that he would like to stay with the team, according to Kevin Patra at NFL.com.
Walker said, “I’ve been here four years, so you know I’ve gotten to know a lot of stuff about Seattle, and you know a lot of the city, and I feel like they feel good about me as well, so if it was my choice, though, I’d definitely stay.”
The Super Bowl 60 MVP could remain with the Seahawks, but with the open market ahead, several teams are expected to compete for the dynamic running back.
