The Buffalo Bills will not use the franchise tag on cornerback Stephon Gilmore this year, The Buffalo News has learned.

The deadline for teams to apply the tag to an impending free agent is Wednesday. One league source told The News there is “no chance” of that happening.

That means Gilmore will hit the open market March 9, unless the two sides can come to an agreement on a long-term contract before then. It’s estimated that the franchise tag for a cornerback this season will cost about $15 million.

For a team with an estimated $21 million in salary-cap space, that would severely handicap the Bills’ ability to sign free agents, be it their own or other players set to hit the open market.

Gilmore, 26, had a career-best five interceptions in 2016, making 15 starts and finishing with 48 tackles. He missed the season finale because of a concussion.