The New Orleans Saints are well-aware they cannot afford to let Jimmy Graham hit the free agent market. The tight end will have the attention of every team in the league if he becomes available. Finishing out the final year of his rookie contract, the Saints are prepared to use the franchise tag on Graham is negotiations do not progress.

The Saints must be wise with what they decide to do with Graham. The options are either a long-term deal or a franchise tag. Right now, the Saints are more than $12 million over the salary cap. Saints general manager Mickey Loomis told WWL-TV that the team will tag Graham if the tight end cannot reach an agreement on a contract extension.

Typically a player receives a tag for the position he plays the most. In 2013, the tag for a tight end was a one-year deal worth $6.07 million. A tag for a wide receiver in 2013 was a one-year deal worth $10.54 million. Graham only lined up as a tradition tight end one-third of the 2013 season and was used as a wide receiver the rest of the time. A franchise tag would certainly cost the Saints a lot of money considering their salary cap issue.

Quarterback Drew Brees has said he would be willing to restructure his current contract in order to help the team keep Graham and sign him to a long-term, cap-friendly contract. Brees is the biggest hit to the Saints' cap with his $18.4 million salary next season. He then spikes to $26.4 million and $27.4 million in the next two seasons.

"Whatever I can do to help this team, if they want to come to me and extend me even further, that'd be great," Brees said, via the New Orleans Times-Picayune. "Listen, there are so many possibilities as to what can happen here. Let's just let this offseason start. It's what, today's the second day of it unfortunately. We all wish it wasn't, but whatever helps this team win and puts the best team on the field."

The Saints remain hopeful that they can reach a deal with Graham before the tight end has the chance to determine his value on the open market. He could end up in a standoff much like Jermichael Finley found himself in a few years ago. He wound up getting a two-year contract. Graham has the money of the franchise tag working in his favor. Expect this situation to go on for a while with the Saints.