Pittsburgh Steelers running back Le'Veon Bell reportedly turned down a $70m offer before breaking off contract talks with the franchise.
Bell, who will instead play under a one-year deal worth $14.55m due to the franchise designation, was said to be seeking a contract worth at least $14.5m per year.
NFL Network reported the contract Pittsburgh offered included $33 million guaranteed in the first two years and a value of $45m over the first three years (not all guaranteed).
Bell took to social media to voice his opinion after the Monday deadline for franchise-tagged players had been and passed.
Steelers general manager Kevin Colbert echoed Bell's thoughts that both sides had been working hard to find a solution.
"Even though we could not reach a long-term contract agreement with Le'Veon Bell, we are excited he will be with the team in 2018," said Colbert.
"We worked very hard to find common ground, but we were unable to accomplish that prior to today's deadline. Le'Veon will play this season under the exclusive franchise tag designation.
"After the 2018 season is completed, we again will attempt to work out a long-term contract with Le'Veon in the hope that he will continue his career with the Pittsburgh Steelers."
In his five seasons in Pittsburgh, Bell has had at least 1,200 yards rushing and 600 yards receiving three times.
He has been named to three Pro Bowls and is generally regarded as the best all-around running back in the league.
His contract squabbles with the club have become an annual offseason ritual and after not signing under the franchise tag until September 4 last season, Bell averaged fewer than 3.5 yards per carry through the first three weeks.
He did manage to rediscover his form and finished with a league-high 321 carries for 1,291 yards along with 85 catches for 655 yards and 11 total touchdowns.