Josh Norman becomes UFA after Panthers rescind franchise tag

The Carolina Panthers rescinded the non-exclusive franchise tag on cornerback Josh Norman, the team announced Wednesday.

"After a number of conversations with Josh's agent we realized that a long-term deal was not attainable," Panthers general manager Dave Gettleman said in a statement. "We have decided to rescind the franchise tag freeing Josh to immediately become a UFA. We thank Josh for all his contributions and truly wish him well."

Norman is now the marquee free agent available, coming off a breakout season in which he recorded 56 tackles, four interceptions, and three forced fumbles en route to first-team All-Pro honors.

Asked about the decision by Steve Reed of The Associated Press, Norman said, "Man, I just don't feel like talking about it right now."

The Panthers placed the franchise tag on Norman, but he refused to sign the contract that would've paid him $13.9 million for the upcoming season. Both parties had until July 15 to reach a long-term agreement; otherwise, Norman would have played under the stipulations of the franchise tag.

Norman wasn't expected to report to the Panthers' offseason program that's slated to begin next week, a source told ESPN's David Newton.

New York Jets star Darrelle Revis is currently the highest-paid cornerback in the NFL, earning $14.02 million in average annual value. Norman was likely demanding to become the top-earning player at his position.