Kenyon Drake will play under the one-year, $8.48 million franchise tender this year.
Drake and the Arizona Cardinals weren't close on a long-term deal, according to a source.
The deadline for franchise-tagged players to get deals done was Wednesday, but transition-tagged players like the running back have until July 22 to negotiate a multi-year deal.
"I'm not too concerned about signing an extension currently," Drake wrote in a tweet. "That'll come in due time. Right now, I'm focused on everyday getting in the best shape of my life to help this team play winning football. Everything else will run its course. Stay safe, wash your hands, wear a mask."