You can't build a team and keep the cap in shape with a "this player is almost indispensable, we won't make the Super Bowl without him" approach. Maybe for you QB and maybe for one player on the Defense. But certainly not a WR.
Woodbuck earlier (weeks ago) said he wanted Cobb signed _now_ for $8.5 million per over four years. He apparently wants $9 mil per. At exactly what price do you advise the Packers to say no to?
Or should the Packers tag him?