Today is the first day teams are allowed to use the franchise tag on an impending free agent. For the Eagles, the obvious candidate is Michael Vick. He was the runner up for the MVP and seemed to establish himself as a franchise quarterback once again... but he did it for one year. In fact, it was even one full year. So do the Eagles go all in right now and re-sign Vick to a big, long term deal or do they franchise tag him and take another year to decide?
Plus, Vick's people are likely looking for a long term deal that pays him like he's been performing at his 2010 level for years. The Eagles would like to do a long term deal as well, but they're most likely looking to pay him like a guy with serious problems in his past that has had one great year. If they applied the franchise tag and he stayed clean and productive for another year... then they could re-visit the long term deal.
The franchise tag for a QB this season will be around $17 million, so not really a bad deal for Vick either way. Also, it's worth noting that even if the Eagles use the tag on Vick, it doesn't preclude a long term deal getting done. They could continue to negotiate a long term deal assuming he doesn't sign the tag, which he's not likely to do before the labor situation is worked out.