Triplett adds that Colston has yet to share any willingness with the Saints about reducing his salary to be back with the team.
Cole adds that Colston would like to remain in New Orleans and understands that there could be a number of veteran receivers available this offseason such as Larry Fitzgerald and Vincent Jackson who could be on the market.
As long as the pay cut is reasonable, Cole expects Colston to remain with the team for another year. Otherwise, he could be a free agent in the coming months.
The Saints are, once again, in a tough financial situation as they are currently projected to be $23 million over the cap next year.
Colston, 31, signed a five-year, $36.3 million contract that included $17.7 million guaranteed with the Saints back in 2012. He still has another two years remaining on this agreement with base salaries of $6.9 million and $7.7 million coming his way.
Releasing Colston would free up $4.3 million and create $5.4 million in dead money, according to OverTheCap.com. His cap number currently sits at $9.7 million.
In 2014, Colston caught 59 passes for 902 yards receiving and five touchdowns.