The franchise tag is viewed as a way to essentially take an unrestricted free agent off the market, but that’s not technically what the tag does. It simply makes it more costly for another team to sign that free agent away from his current club, since the signing team would have to give up two first-round picks as compensation.

For some players though, that price tag may be worth paying, and there’s a sense around the league that a team may be willing to do so for Jimmy Graham, writes Mike Freeman of Bleacher Report. It’s not clear yet which club might make a run at Graham, but teams with late first-round picks like the Seahawks and Patriots have been mentioned as possible candidates, and Freeman says not to rule out the Ravens either. For what it’s worth, a Packers source tells Freeman that Green Bay making a run at Graham “won’t happen.” Still, it sounds as if the Saints may need to fight to keep their star pass-catcher.

Here’s more from around the NFC:

• James Jones isn’t expected to be back in Green Bay next season, but the free agent receiver still thinks there’s a chance he could re-sign with the Packers, as he told Around the League on the NFL Network yesterday (link via Dan Hanzus of NFL.com). If he doesn’t continue with the Packers, Jones thinks the Colts and Chargers might be good fits for him.
• With just a few days until he can hit the open market, Golden Tate tells SiriusXM NFL Radio that he hasn’t heard much from the Seahawks, as Curtis Crabtree of Pro Football Talk details. “I’ve kind of just trusted in my agent and him being good at his work,” Tate said. “Todd [France] has had some great deals in the past and so I’m letting him handle it. Just trying to stay stress free and really enjoying being a Super Bowl champ.”
• Veteran defensive tackle Letroy Guion, who only played in about a third of the Vikings‘ defensive snaps in 2013, may be asked to take a pay cut, says Adam Caplan of ESPN.com (Twitter link). Guion has a 2014 base salary worth $3.95MM and a total cap number of $4.3MM.
• If the Buccaneers are going to trade Darrelle Revis this offseason, it will likely happen sooner rather than later. Mike Florio of Pro Football Talk explains why.