The Tampa Bay Buccaneers may have a franchise quarterback in the form of Jameis Winston. This doesn’t meant they view themselves set at that that position.

Set to become a free agent next week, backup quarterback Mike Glennon was reportedly offered a contract worth $8 million per season to remain in Tampa as Winston’s backup.

It goes without saying that this would have made Glennon the highest-paid primary backup quarterback in the entire NFL.

Glennon has opted to test the free-agent market rather than accepting the contract offer. He’s already reportedly received interest from the Chicago Bears and New York Jets as a potential starter (more on that here).

Glennon, 27, was a third-round pick of the Buccaneers back in 2013. He ended up starting 18 games in his first two NFL seasons, recording 29 touchdowns compared to 15 interceptions en route to finishing with a 5-13 record. He’s attempted just 11 regular season passes in the two seasons since.

It might seem like an absurdly high price to pay for a backup quarterback. But it’s also important to remember that the market for free agents this upcoming period is completely different than in previous seasons. The NFL increased its salary cap by $12 million for 2017 — the fourth consecutive year that the league has seen a $10-plus million increase.

With that comes a new market and new values for pending free agents.

Glennon is smart to wait and see what type of interest he will see on the open market, especially with so many teams in need of a starting quarterback. If all else fails, he likely has a fallback option in Tampa Bay.