The Saints have placed the exclusive franchise tag on QB Drew Brees.
The team has been trying to work out a long-term contract with their star quarterback for a while, but according to several reports, the two sides were far apart on the financial terms of the deal.
According to ProFootballTalk.com, the exclusive franchise tag is expected to be worth $15-16 million in 2012. The exclusive tag forbids other clubs from offering Brees a contract.
Fox Sports' Jay Glazer first reported that Brees had received the tag.
Brees is reportedly seeking a contract in the range of nearly $18 million per season, similar to deals signed by Tom Brady, Peyton Manning and Michael in recent years. Brees is coming off a record-setting season in which he threw for 5,476 yards, most in league history.
By using the franchise tag on Brees, it means the Saints will not be able to use it on some of their other key free agents, including OG Carl Nicks and WR Marques Colston.