Panthers Have a Lot of Decisions To Make In a Short Time

The Carolina Panthers have a lot of decisions on their plate for the next week, and most of that is due to whether or not Julius Peppers signs the franchise tag contract the Panthers placed on him.

One question is, when the Panthers get ready to look at trade offers for Peppers, are they really going to be that picky as to whether or not they get two first-round picks for the disgruntled defensive end? I highly doubt it.

Peppers has three choices in this situation:

1. Sign a long-term contract with the Panthers.

2. Sign the Panthers' one-year offer of $16.683 million.

3. Sign an offer sheet with another team, and bring it back to the Panthers.

If the third option happens, the Panthers then have seven days to match the terms of that offer or receive two first-round draft picks if they don't match the terms.

As it stands, Panthers General Manager Marty Hurney is playing everything by the book. He has no choice.

On Thursday, Hurney confirmed that the Panthers had placed the "non-exclusive" franchise tag on Peppers. This allows Peppers' agent Carl Carey to negotiate with other teams and solicit an offer sheet.

Does this mean the Panthers will accept nothing less than two first-round picks for Peppers? Highly unlikely.

There was one thing Hurney wouldn't talk about, which was the fourth option, one that happens in rare circumstances in the NFL, but will most likely happen in this instance.

In this case, Carey makes a deal that will send Peppers to another team, and the Panthers in turn will be compensated with draft picks, although it won't be two first-rounders, but rather something less.

Hurney would not comment on this option, because the true intention of the franchise tag is to keep a player, not trade him, as per the rules set forth by the NFL's Collective Bargaining Agreement.

If Hurney were to talk about trading Peppers, it would violate the integrity of which the franchise tag is intended, which is why he says the Panthers "really value" Peppers and want him back.

Now I really doubt the Panthers want Peppers to remain in Carolina. He has stated on several occasions now that he wants out, whatever his reasons may be is a moot point. Plain and simply, if Peppers were forced to stay, he would be counterproductive in what the Panthers are trying to accomplish.

If/when a team presents Peppers with an offer sheet, it will take the Panthers all of five seconds to refuse to match the offer, and go with the two first-round picks as a trade, but I don't see another team offering this for Peppers. The Panthers might be lucky to get a first round pick and a subsequent second and/or third rounder for Julius.

The new league year begins on Feb. 27, along with the free agency signing period. As long as Peppers remains the team's franchise player, he will count $16.683 million against the Panthers' 2009 salary cap.

This cap restriction in turn limits the amount of money the team can spend in free agency. However, once a team makes a successful trade for Peppers, those numbers will go off the books and free up more cap space for Carolina.

In the meantime, the Panthers will likely have to go through the roster and make some cuts. Among those cuts, I wouldn't be surprised if some guys such as Ken Lucas, D.J. Hackett, and Landon Johnson are among those names.

The Panthers may also want to restructure a few contracts, and guys like Jake Delhomme and Ma'ake Kemoeatu are among those possibilities.

In the meantime, Hurney, who always seems to have a plan, doesn't seem too overly concerned about the what-if's.

"Obviously, we will be under the cap when the league year starts," Hurney said.