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Despite the savings, the Falcons don't plan to use the franchise tag on anyone.
You can add the Falcons to the growing list of teams that do not intend to utilize the franchise tag this year. Doesn't make sense for most— Jason La Canfora (@JasonLaCanfora) March 1, 2013
La Canfora is probably right here. The Falcons freed up cap space in order to re-sign their guys, take a swing at a couple of key free agents and draft well. They didn't do it to pay a lot for one year to lock up any of their players, even if it's a key contributor like William Moore.
It's worth remembering that this is probably the case, particularly as we barrel toward free agency. William Moore is going to get a legitimate chance to test free agency, and the Falcons better be ready if they're not using the tag.