Alshon Jeffery is reportedly open to the idea of returning to the Bears

The Bears didn't franchise tag Jeffery, which means he's a free agent

When the Bears didn’t franchise tag Alshon Jeffery, the assumption was that the team and receiver were heading to a split. But according to NFL Network’s Ian Rapoport, the relationship might still be salvaged.

On Saturday, Rapoport reported that the Bears and Jeffery are both open to a reunion.

The #Bears and FA WR Alshon Jeffery's agent had a positive meeting today, I'm told. Both sides are more than open to a reunion....

— Ian Rapoport (@RapSheet) March 4, 2017

That report matches what Bears general manager Ryan Pace said at the combine earlier this week, when he didn’t rule out the possibility of signing Jeffery to a long-term contract. Via the Chicago Tribune:

Q: On the decision not to use the franchise tag on Jeffery ...

A: It was thought out thoroughly, obviously. I think sometimes when you can’t come to a common ground with a player and an agent, sometimes it’s necessary to kind of test the market to determine that player’s value, and that’s really where we’re at. He’s a good player, and we’ll see how it plays out. But I think there are certain instances where testing the market is a necessary part of the process.

OK, so here’s why this makes sense: The Bears desperately need good, young players. And Jeffery fits that description. He’s not in the same class as the Julio Joneses, Antonio Browns, and A.J. Greens of the world, but he’s still a WR1 with the ability to put up big numbers despite uneven quarterback play. Considering Kevin White hasn’t turned into the receiver the Bears thought he’d be when they picked him in the first round two years ago, the Bears still have a clear need for a player like Jeffery. 

And here’s why Jeffery returning doesn’t make sense: The free agent market is limited and Jeffery is the best available receiver, which means some desperate team will likely be willing to overpay for his services. The Bears, who are in the middle of rebuilding, likely aren’t willing to overpay him, which is why they franchise tagged him a year ago and are letting him test free agency this year. The most likely outcome is that Jeffery gets way more money than the Bears are offering and he leaves Chicago for a better team. Remember, he said he wants to play for a contender.

But maybe Pace is onto something. 

By not tagging Jeffery, he’s letting Jeffery see what kind of offers he can garner on the open market, which sorta seems like a stupid move because the Bears have a ton of cap space and very easily could’ve tagged Jeffery for a second straight year. But it also could end up being a smart move. 

If the Bears had tagged Jeffery, they probably wouldn’t have reached a long-term agreement with him, because he likely would’ve wanted to test his worth in free agency after the 2017 season. By letting Jeffery test his worth now -- after a disappointing season that included a suspension -- the Bears are betting that he won’t find the kind of money he’s anticipating. And that could drive down the price Jeffery is asking the Bears for, which would increase the likelihood of them signing him at a price they have in mind.

In short, this could be the best time for the Bears to let Jeffery test the market.

Of course, I’m just speculating here. At this point, it’s too early to know what will happen. For the record, I’m still guessing that Jeffery and the Bears don’t end up reuniting because someone will overpay him. But for Bears fans who suffered through years of watching Devin Hester as the team’s go-to receiver, Rapoport’s report does at least offer some hope.