The NFL's rising cap could make it financially feasible for Washington to use the franchise tag on Kirk Cousins again in 2018.

The cap is at $167 million for 2017 and could hit $180 million in 2018 based on how it has been rising each season.

The third year of the franchise tag for Cousins would be $34.47 million, which is less than 20 percent of the cap.

Cousins is playing the 2017 at the franchise-tag salary of $23.94 million, which is 14.3 percent of the cap.

Kirk Cousins was offered a six-year contract from Washington with four of those seasons not guaranteed, according to a source.

The offer included more than $53 million guaranteed at signing, covering the $23.94 million franchise tag in 2017 and the $28.72 million transition tag in 2018.

The club essentially wanted a two-year deal with a series of four one-year options. Cousins didn't want a contract that committed him to the team from 2019 to 2022 without any power on his end.

Washington detailed their multi-year offer to Kirk Cousins this offseason after they were unable to come to an agreement.

"Our goal was to sign Kirk to a long-term contract with the final objective of having him finish his career with the Redskins," Allen said Monday in the statement. "On May 2, right after the draft, we made Kirk an offer that included the highest fully guaranteed amount upon signing for a quarterback in NFL history ($53 million) and guaranteed a total of $72 million for injury. The deal would have made him at least the second highest-paid player by average per year in NFL history.

"But despite our repeated attempts, we have not received any offer from Kirk's agent this year. Kirk has made it clear that he prefers to play on a year-to-year basis," Allen said. "While we would have liked to work out a long-term contract before the season, we accept his decision."

Cousins will become the first NFL quarterback to play under the franchise tag for a second consecutive season, earning $23.9 million. 

Cousins' side didn't counter the initial offer, knowing if he was franchised he'd make $23.9 million guaranteed -- and then hit free agency in 2018, or be tagged again.

Kirk Cousins is not expected to sign a long-term deal with Washington before Monday's deadline. But Cousins remains open to a long-term deal after the season.

Cousins fully intends to play this season under his franchise tag, worth $23.9 million in 2017.

There have been positive talks in recent days but Cousins prefers to wait to do a deal at this time.

Washington still can use its franchise tag on him again next offseason for a third straight year, but it would cost them $34,478,784 to franchise him again.

Washington also could transition him for $28,732,320 million, but another team would have the ability to sign him to an offer sheet that Washington would then have seven days to match.

Kirk Cousins is likely to play the 2017 season under the franchise tag of $23.94 million.

Cousins and Washington have until Monday to sign a long-term deal.

After making $19.95 million in 2016, Cousins will make $43.89 million combined over these two seasons under the tag.

Cousins could tag him $35 million for 2018 or use the transition tag for $28 million.

The San Francisco 49ers are amongst the teams likely to pursue Cousins in free agency next season.

There are no new developments between Washington and Kirk Cousins regarding a new contract.

In less than a week, the window closes for franchise-tagged players to sign multi-year contracts.

Cousins is scheduled to make nearly $24 million in 2017 with the promise of either a 20-percent raise under the transition tag or a 44-percent raise under the franchise tag in 2018 — or a shot at free agency.