The New Orleans Saints have placed the franchise tag on quarterback Drew Brees, Jay Glazer of FOXSports.com reports.
Mike Florio of ProFootballTalk.com reports the Saints have used the "exclusive" tag, which will prevent Brees from talking to other teams. If a long-term extension is not reached, Brees' 2012 salary will be the average of the five largest salaries at the quarterback position at the end of the restricted free agent signing period.
As of right now, and assuming that Peyton Manning is not among the top five highest-paid quarterbacks on his new contract, the average of the top five quarterbacks is $15.76 million. Had the Saints used the "non-exclusive" tender, Brees would have earned $14.374 million in base salary in 2012 if no extension is reached.
Reports out of New Orleans had been that the two sides remained $5 million per year apart in talks towards a new contract. Brees is likely seeking a contract at or exceeding the $18 million per year level that New England Patriots quarterback Tom Brady and Peyton Manning received in recent seasons with around $50 million in guarantees.
Brees is coming off one of the most impressive passing seasons in NFL history, setting a single-season NFL record with 5,476 yards and leading the league with 46 touchdown passes. Since signing with the Saints as a free agent in 2006, Brees has passed for 28,394 yards with 201 touchdowns and 93 interceptions, earning five trips to the Pro Bowl and leading the Saints to their first Super Bowl win in franchise history.
That the Saints have had to resort to the franchise tag is a bit of a disappointment, as it means the club could lose wide receiver Marques Colston and/or Pro Bowl guard Carl Nicks to free agency.
source: Mac's Football Blog
author: Brian McIntyre
