The Green Bay Packers and impending free agent wide receiver Randall Cobb are working on a tight timeline to negotiate a deal agreeable to both parties.
The Packers have reportedly offered Cobb a five-year deal worth somewhere between $8 and $9 million annually—an offer that has been rejected by Cobb’s agent Jimmy Sexton.
Green Bay has exclusive negotiation rights that run until 4:00 p.m. ET this Saturday and it would appear that Sexton wants to wait for richer offers to come in. With the Oakland Raiders and Jacksonville Jaguars having the most salary cap space to shop the free agent market, NFL Media Insider Ian Rapoport expects both teams to be in on bidding for Cobb.
It is also being reported that John Dorsey, the ex-Packers personnel director and current Kansas City Chiefs general manager, may attempt to create salary cap room to bid on Cobb as well.
Now that Demaryius Thomas and Dez Bryant have been handed the franchise tag, Cobb stands to be the leading receiver on the free agent market.
In looking at the Packers’ offer of $8-9 million per, it is quite generous considering that they currently pay top wide receiver Jordy Nelson $9.762 annually on a four-year deal.
However, where most teams are hesitant to pay slot receivers this kind of money, there is speculation that Cobb could draw upwards of $12 million annually from a team who has the big bucks to spend.
The advantage of Cobb, 24, remaining in Green Bay is that come a few years down the road, he might very well earn an even loftier pay day. That’s only magnified with the presence of Aaron Rodgers under center.
Rapoport reports that Packers general manager Ted Thompson is still hoping to come to terms with Cobb prior to their exclusive negotiating time period coming to an end on Saturday.
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