Kenneth Walker III and the Super Bowl MVP Free Agency Paradox: Will Seattle Let Him Walk?
Kenneth Walker III might be the latest in a rare but fascinating NFL trend - a Super Bowl MVP heading into free agency with no franchise tag in sight. If that sounds familiar, it's because we've seen it before with names like Larry Brown, Desmond Howard, and Dexter Jackson. All three earned MVP honors on the biggest stage, only to suit up for different teams the following season.
And now, Walker could be next.
According to ESPN’s Adam Schefter, the Seahawks are “unlikely” to use the franchise tag on Walker, a move that would have locked him in for a one-year, $14.1 million deal. That’s nearly double what he’s made in total over his four-year NFL career ($8.44 million). But instead of going that route, Seattle appears ready to let the market set the price - and potentially let Walker walk.
Why Seattle Might Pass on the Tag
There’s a lot to unpack here, and it starts with the Seahawks’ broader offseason priorities. Schefter reports the team is juggling multiple pending free agents and also working on a potential extension for wide receiver Jaxon Smith-Njigba. In other words, they’re spreading their chips across the table, and tagging Walker could blow up the budget before they even get started.
This also feels like a calculated leak from the Seahawks' front office. With the two-week window for applying the franchise tag now open, this news didn’t just slip out by accident. It’s a message to fans - and maybe to Walker’s camp as well - that the team doesn’t view the tag as a viable option this time around.
Reading Between the Lines
If Seattle isn't tagging Walker, it likely means one of two things: either they think his long-term contract demands are too rich for their taste, or they believe the open market won’t meet those demands either. That second part is especially interesting.
NFL teams often know what the market looks like before it opens - especially with the Scouting Combine (aka Tampering Central) right around the corner. That’s where agents and front offices start to feel out what kind of deals are out there, even before free agency officially begins.
So while the Seahawks are stepping back, Walker’s representation is about to get a real sense of his value league-wide. And if someone’s willing to pay more than Seattle is, well, that might be all she wrote for his time in the Pacific Northwest.
The Cold Business of the RB Market
This is also a textbook example of how the running back position continues to be devalued in today’s NFL. No matter how dynamic Walker has been - and his postseason performance certainly turned heads - teams know they can often find comparable production at a fraction of the cost. Whether it’s a Day 2 draft pick or a budget-friendly veteran, the plug-and-play nature of modern backfields makes it hard to justify big money at the position.
Seattle may feel confident they can draft a replacement or sign a cheaper veteran without missing a beat. And that’s not a knock on Walker - it’s just the economic reality of the position right now.
The Long View
Ultimately, the Seahawks’ stance says more about roster construction than it does about Walker’s talent. They’ve had four full seasons to evaluate him - not just the three-game playoff run that ended in a Super Bowl MVP - and they’re making a long-term decision based on that full body of work.
That’s standard practice in free agency. The team that’s had the player the longest often values him less than a team that’s only seen the highlight reel.
That doesn’t mean Seattle is right. We’ve seen teams misjudge their own talent before - just ask the Giants about Saquon Barkley. But with cap space tight and needs across the roster, the Seahawks are playing the long game.
So now, all eyes turn to the market. If Walker does land a big deal elsewhere, he’ll be following a well-worn path carved by Super Bowl MVPs before him.
If not, maybe the door back to Seattle isn’t fully closed. But for now, the Seahawks are letting the league set the price - and Kenneth Walker III is about to find out what he’s really worth.