Published: Saturday, Feb. 21, 2009 / Updated: Saturday, Feb. 21, 2009 01:03 AM

Panthers, Peppers play waiting game

CHARLOTTE -- This winter has been a flurry. So Friday was a strange day for the Julius Peppers camp -- as absolutely nothing happened for the first time in months.

"There won't be any news for a while on this," agent Carl Carey said Friday in an email message. "We're just taking it one day at a time."

After firing a public volley Wednesday saying he'd limit the Carolina Panthers' options by agreeing to a new deal with just four teams, the Panthers still placed the franchise tag on him Thursday. In the process, general manager Marty Hurney stood firm, saying they're not interested in trading Peppers, but if a team wanted to sign him to an offer sheet, they'd consider not matching and taking the two first-round picks in compensation.

Realistically, both sides have now taken their turns posturing, and now we all wait.

Peppers can't even officially field offers until the free agent period starts Feb. 27. Once he does, it's doubtful any team is going to rush to his and the Panthers' rescue.

According to the league, only three franchise players have ever changed teams through the offer sheet process, and none since 1998 when Sean Gilbert went from Washington to Carolina and Chester McGlockton from Oakland to Kansas City.

In general, tagged players go through the same process. There are the times for public statements and then things go quiet while they wait for resolution.

Peppers was one of 14 players to receive the franchise tag this season, the most ever.

Last year, 12 players were tagged, and their stories provide the framework of possibilities for the Panthers' disgruntled star.

• Two played out the season, and were tagged again by their current teams: Arizona linebacker Karlos Dansby and Baltimore linebacker Terrell Suggs.

• Cincinnati's Stacy Andrews provides the cautionary tale. He played last season under the tag, but he suffered a major knee injury in the season finale -- after turning down a long-term offer which included $15 million guaranteed. There will be little market for him this year, and he'll likely have to sign a make-good deal to return to his previous level of compensation.

• Philadelphia tight end L.J. Smith had a horrible season, and the Eagles aren't even expected to offer him a contract this year.

• Three of them reached long-term deals with their current teams before the start of the 2008 season: Dallas safety Ken Hamlin, Indianapolis tight end Dallas Clark and Seattle cornerback Marcus Trufant.

n Panthers left tackle Jordan Gross and Oakland cornerback Nnamdi Asomugha had to wait a year, but got their long-term loot this week.

n Tennessee defensive tackle Albert Haynesworth negotiated his freedom from the Titans, as they agreed not to tag him again this year. He'll go into the market as perhaps the top free agent this offseason, and will get very rich, very quickly.

n Two were traded and had to get their long-term deals from new teams. Kansas City got a first-rounder and two thirds from Minnesota for defensive end Jared Allen, while Green Bay settled for a second in sending defensive tackle Corey Williams to Cleveland.

Of all those scenarios, a trade such as Allen's seems like the most likely end. Peppers -- in his own voice and through his agent -- seems firm in his desire to leave town and find a new challenge.

Hurney sounded a call for reconciliation Thursday, saying they valued Peppers greatly and would love for him to return.

It's a noble desire, but unlikely.

A point will come when they'll want to remove his $16.683 million tag value from their salary cap (since it takes up 13.6 percent of what they can spend on players), especially if Peppers refuses to report.

But it's obvious from Hurney's early stance he's not at that point just yet.

So after weeks of words and wondering, the time for waiting has just begun.