Latest Deadline Updates on Contract Negotiations from Around the NFL

Monday marks the NFL's franchise tag deadline at 4 p.m. ET, after which players can only play next season under the conditions of the tag or choose to hold out.

In other words, it's the day that Baltimore Ravens and Chicago Bears fans collectively hold their breath.

But Ray Rice and Matt Forte aren't the only big names who have yet to sign their franchise tenders. Let's take a look at the remaining players still in limbo, providing updates throughout the day as each situation plays out.

You'll be able to breathe soon, Baltimore and Chicago. Keep a paper bag handy just in case.

Matt Forte, Chicago Bears

UPDATE: Monday, July 16th at 12:40 p.m. ET

Breathe easy, Bears fans—Sean Jensen from the Chicago Sun-Times is reporting that Forte and the team have agreed on an extension.

"

BREAKING: #Bears agree to terms with Pro Bowl RB Matt Forte on a long-term contract, according to source close to the situation.

— Sean Jensen (@seankjensen) July 16, 2012"

"

BREAKING: #Bears finalizing what is expected to be a four-year contract with @MattForte22, hours before the NFL deadline.

— Sean Jensen (@seankjensen) July 16, 2012"

We'll continue to update as terms of the deal become known.

----------END OF UPDATE----------

While Forte hasn't reached a long-term agreement with the Bears as of now, there is optimism that a deal could be done by the end of the day.

If not, Forte faces the same decision as Rice: Sign the tender or hold out.

The Bears offense is dramatically better with Forte than without him, but Michael Bush's presence may make the team less likely to pay Forte the sort of money McCoy and Foster received. Hopefully, the two sides will be able to meet in the middle.

Ray Rice, Baltimore Ravens

If Rice gets his contract extension, expect him to earn a contract similar to Arian Foster and LeSean McCoy, both of whom recently signed big, long-term extensions. That would put Rice in the area of a five-year, $45 million deal.

However, it is believed Rice and the Ravens remain far apart in contract negotiations. And if Rice doesn't get his deal, will he sign the $7.7 million tender, or will he hold out?

Probably the former, though begrudgingly. I can't imagine Rice sitting out an entire year, but if a deal doesn't get done this season, I would expect Rice's contract expectations to go up and his desire to remain in Baltimore to go down.

The Ravens may hold the current leverage, but beyond this season that leverage weakens. It will be interesting to see how this plays out.

Wes Welker, New England Patriots

For now, it remains unlikely that Welker will sign an extension and instead will play under the $9.5 million franchise tag next season.

That sort of money is certainly not a bad consolation prize, however.

Dwayne Bowe, Kansas City Chiefs

Dwayne Bowe has yet to sign his franchise tender, leading me to believe that he and the Chiefs have continued to talk about an extension.

But negotiations between the two sides have been kept quiet, so it's hard to say whether they are anywhere near working out a long-term deal. But like Welker, at least Bowe's franchise tender of $9.5 million will pay him handsomely in 2012.

Cliff Avril, Detroit Lions

Avril has yet to sign his franchise tender and stands to make $10.6 million this season if he does. But if he and the Lions fail to work out a long-term extension, the fear is that Avril would leave the team via free agency next summer.

That could be motivation enough for the two sides to work out a deal on Monday. Stay tuned.

Dashon Goldson, San Francisco 49ers

Goldson has previously noted that he would play this season under the $6.2 million tender, so there may not be a rush by either side to negotiate a long-term deal.

As of Friday, those negotiations were apparently stalled. I would expect Goldson to play under the terms of the tag next season.

Anthony Spencer, Dallas Cowboys

According to Todd Archer of ESPN, the Cowboys have made it clear they won't offer Spencer a long-term deal this offseason, and he plans to play 2012 under the tag.

"

The Cowboys had only brief talks with Spencer in the offseason about a long-term deal and have prepared for their 2007 first-round pick to count $8.8 million against the 2012 salary cap all along.

"We will start the season with his current contract," said Spencer's agent, Jordan Woy. "We will see what happens during the season. I'm sure we will have a discussion before the season ends."

"

So there you have it.

Brent Grimes, Atlanta Falcons

Grimes already signed his $10.281 million franchise tag, so it's unlikely he'll sign a long-term contract before 4 p.m. ET on Monday.

If his or any other player's situation changes throughout the day, the updates will be posted here, so don't go far.

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