Packers Considering Franchise Tag for Greg Jennings?

In a strange twist to the on-going saga that is the divorce between the Green Bay Packers and Greg Jennings, it now appears the Packers could use the franchise tag on their disgruntled receiver. Jennings departure from Wisconsin was considered a foregone conclusion for the past few weeks, especially with the young receiving corps the Packers have to replace him. However, NFL Network analyst Ian Rapoprt has hear otherwise at the NFL Scouting Combine this week.

Interesting to hear the #Packers are still considering franchising Greg Jennings. Thought that ship had sailed. Apparently not.

— Ian Rapoport (@RapSheet) February 24, 2013

The Packers released Charles Woodson a week and a half ago, saving them $10 million in cap space next year. A franchise tag on Jennings would cost the team $10.4 million in a fully guaranteed contract for next season. Put the two together and the Packers would, essentially, come out with a net balance of zero. They could tag Jennings, then try to work out a long term deal with him over the next year.

However, Jennings has seemed adamant that he is leaving Green Bay. He's made overt overtures to the Miami Dolphins, and has talked about heading to other teams. Would Jennings sign the franchise tender, or would he sit out and wait to be a free agent again in 2014?

Or is all of this yet another offseason smokescreen, trying to keep other teams guessing about what the Packers are planning?