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Pat McAfee receives Indianapolis Colts' franchise tag

The Indianapolis Colts will place the franchise tag on punter Pat McAfee, a source informed of the team's plans told NFL.com's Ian Rapoport.

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USA Today first reported the news, which the team later confirmed.

McAfee will stand to earn $2.977 million once he signs a contract.

McAfee had a career-high 47.9 yards per punt in 2012 and was a valued weapon of the new coaching staff. He's one of the most popular players on the roster and the Colts were going to figure out a way to keep him.

Follow Kareem Copeland on Twitter @kareemcopeland.

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