The Lions should politely say, "Thanks, but no thanks."
Freeney's best years are very clearly behind him. Yes, he could have topped eight sacks again had he been healthy all 16 games in 2012 and the Lions do lack just about any outside pass-rushing presence.
However, the fact is Freeney wants one last big payday and the Lions should absolutely not bite.
If what NFL Network's Albert Breer tweeted is accurate, getting Freeney will just be way more expensive than what the Lions should spend:
Colleague @michellebeisner reported on Total Access that Freeney wants $6M/year. Makes sense, with Dumervil's range at $26M-$35M over 5.— Albert Breer (@AlbertBreer) March 26, 2013
Maybe $6 million per year doesn't seem like a ton, but if you were going to pay that money out, why not pay Cliff Avril? He got a two-year, $13 million contract, he's half Freeney's age and as (if not more) productive.
Give your own players a long-term contract, don't overpay for an aging veteran.
Should the Lions give Freeney his $6 million pay day?
In the end, spending what Freeney wants isn't going to get the Lions closer to a playoff berth—it would just get Freeney closer to a secure retirement fund.