The deadline for applying the franchise tag has come and gone and the Green Bay Packers did not use their tag this season, meaning Matt Flynn will hit the open market once free agency begins March 13.
There was much speculation that the Packers would use their franchise tag on Flynn and then trade him to a willing team looking for a new quarterback. A trade would have likely given the Packers at least a second-round draft pick and possibly a high draft pick if the Packers packaged Flynn with their first-round draft pick.
Franchising Flynn for the sole purpose of trading his services would be frowned upon by the league and the risk involved made the move too much for the Packers to follow through with. In order to eliminate the risk involved, the Packers would have had to find a trade partner under the table that was willing to work with Flynn on a long-term deal.
With Flynn free to hit free agency, he will likely have quite a nice market with a couple suitors, possibly including the Miami Dolphins, which would be a reunion between Flynn and former offensive coordinator Joe Philbin, the Dolphins' new head coach.
Now, the Packers will likely only receive a compensation pick for Flynn depending on how much playing time he gets and how well he performs with his new team. The highest pick the Packers could end up getting for Flynn is a third-round draft pick.