This isn’t exactly a surprising move, despite a report from last week that the Packers were considering the idea of franchising Jennings. It would have cost them close to $11 million next season to retain Jennings via the designation.
It’s doubtful that Green Bay will look to lock Jennings up in the coming weeks, even though they do have some cap space to work with. Jennings is reportedly targeting as much as $12 million annually in his next contract, and even though it’s unlikely he’ll sign for that kind of money, the Packers have enough depth at receiver with James Jones, Jordy Nelson and Randall Cobb that they can allow him to walk and take compensatory pick next year.
Recent speculation as the Dolphins and Vikings as the most likely suitors.
We have Jennings currently listed as the No. 7 best available player in our Top 50 Free Agents list.