we have a transition tag also that would give us the right to refusal of any contracts that are offered Nicks. That is what will most likely be used on him. It works like restricted free agency except there is no compensation if we refuse to match - and we can't use it again until the next year. If we agree then Nicks would sign with the Saints for the same terms offered by the other team.
As for the franchise tag, Drew is saying he does not want to just play next year out under a 1 year contract. We would still keep rights to him if he does not sign it. It would work kind of like the transition tag at that point I think.