Jones, who had 1,104 rushing yards and nine touchdowns in 2020, is currently set to be an unrestricted free agent. However, the Packers are hoping they can work out a long-term deal with the Pro Bowl tailback.
NFL Network insider Ian Rapoport made it known that Green Bay's decision to refrain from using the franchise tag doesn't mean it won't try to negotiate a new contract with Jones.
"There was some discussion about the Green Bay Packers placing the franchise tag on Aaron Jones – especially because the number was slated to be so low, possibly even $8 million. This is a player, from what I understand, the Packers want to keep."
Rapoport also revealed that Green Bay offered Jones a contract extension during the 2020 season.
"I know they had extension talks late in the season, offering him more than $9 million per year. Those talks were with a different agent, but they have continued."
Last offseason, the NFL world witnessed a handful of running banks receive massive contracts. Dalvin Cook, Derrick Henry and Alvin Kamara are now all making at least $12.5 million per year.
We'd imagine that Jones is looking for a lucrative payday in the coming weeks.
With teams like the Dolphins and Jets in dire need of help at running back, a bidding war could break out for Jones.