http://sports.espn.go.com/nfl/news/story?id=3253867

After failing to reach a long-term agreement with Dallas Clark, the Indianapolis Colts placed the franchise tag on their tight end on Tuesday.

Negotiations with Clark, whose contract voided after the 2007 season, heated up toward the end of the season, but without resolution. The Colts instead reached agreement on a five-year, $37.5 million contract with safety Bob Sanders, the NFL's Defensive Player of the Year. Talks with Clark resumed in the past week, but with no deal in sight, the Colts felt it necessary to designate him as their franchise player.

The one-year franchise tender for a tight end is $4.522 million. If any team tries to sign him, they would have to surrender two first-round draft choices, which is unlikely. Clark is the second tight end to be franchised this offseason. The Eagles did the same with L.J. Smith.

The Colts and Clark have until mid-July to try to reach a long-term deal. With the franchising of Clark, six players have been given the franchise designation before Thursday's deadline. Any team wishing to franchise or transition a player has to record that transaction by 4 p.m. ET Thursday.

Obvious move. i think a 4 Million cap hit is well worth clarks presence.