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The Green Bay Packers are still in the running for receiver Greg Jennings and the Minnesota Vikings have reportedly dropped out.

The Vikings apparently found Jennings’ asking price too high and if they are indeed out of the running, the Packers have a real shot. That leaves the number of Jennings’ known suitors at one.

That brings us to this. Jason Wilde reported that the Packers previously offered Jennings $10 million per season, but that offer was made some time ago. As we’ve reported, Jennings thought he was going to get much, much more. That doesn’t appear to be the case anymore and the Packers are intent on waiting around until Jennings figures that out and takes their offer.

One problem. If Jennings makes $10 million with the Packers in 2013, he’ll have the highest base salary on the team. Wonder what Aaron Rodgers will think of that?

Another variable here is tight end Jermichael Finley and his $8.25 million salary. Tyler Dunne suggests if the Packers sign Jennings, they’ll either ask Finley to restructure, i.e. take a pay cut, or release him.

Finley has said he won’t take a pay cut, but he might not have a choice. Every team that was hot on signing a tight end — St. Louis, Chicago and Tennessee — has already thrown wads of cash at someone else.

That gives the Packers an awful lot of leverage over Finley.

If he decides not to accept a pay cut with Green Bay, Finley may find it difficult to get top dollar elsewhere.

For now, it’s wait and see. It’s certainly within the realm of possibility that an unknown team emerges and steals Jennings away, making all of this moot.

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