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The Green Bay Packers landed their top free agency priority on Saturday, reportedly locking Randall Cobb up on a four-year, $40 million deal.

Continue for updates.

Cobb, Packers Reportedly Agree to Four-Year Deal

Saturday, March 7

ESPN's Adam Schefter reported that the Packers and Cobb have agreed to a four-year deal. NFL Network's Ian Rapoport confirmed and also reported that $17 million is guaranteed. Rapoport also noted that Cobb turned multiple offers and more money to return to Green Bay.

Packers' Plans for Cobb Offer Reportedly Revealed

Thursday, March 5

Charles Robinson of Yahoo Sports reported on Green Bay's thought process in regard to Cobb's value as he approaches free agency, saying the Packers "balked" at a deal averaging $10 million per season. Robinson also reported that the Raiders would pay that price for his services.

Robinson noted that while the market isn't overly deep for a wide receiver at his price, it would only take one team willing to pay for Cobb to get what he wants. According to Robinson, Cobb's value is hurt by Mike Wallace's failure to shine in Miami.

On March 4, Bob McGinn of the Milwaukee Journal-Sentinel reported on the Packers' plans for what they're offering Cobb:

According to sources, Sexton has been told by the Packers they'll sign Cobb to a five-year contract averaging in the $8 million to $9 million range. Sexton basically has told the team he's confident more lucrative offers await come Saturday. "Sexton does a good job for his players," an executive in personnel for an NFL team said. "He measures the market well and knows how to create a market for his clients as well. "For Randall, it's perfectly timed. He had a very good season. Making it tougher for the Packers is the franchise tags that were used at the position."

McGinn also detailed the kind of offer Cobb is expecting to see:

Some personnel people are convinced the market for Cobb will be between $9 million and $10 million, but they're often conservative this time of year. It wouldn't be shocking, given the number of clubs flush with cap space, to see a five-year deal for Cobb averaging $12 million, perhaps even $13 million with guarantees well in excess of $30 million.

Cobb's Value Reportedly Between $8 and $9 Million Per Year

Tuesday, March 3

Ryan Wood of the Green Bay Press-Gazette reported on where teams believe Cobb's value will lie in free agency:

Cobb is a good receiver, but not a No. 1 threat like Bryant and Thomas. His market is expected to be between $8 and $9 million per year, a league source said. A "great deal" on the open market would be $10 million per year, a figure the Packers aren't likely to offer, the source said. Anything above $10 million would be unrealistic for Cobb, the source said.

Cobb Is Not Franchise-Tagged By Packers

Monday, March 2

Adam Schefter of ESPN reported that Cobb was not franchised by the Packers before Monday's deadline.

Tom Silverstein of the Milwaukee Journal Sentinel reported on the potential price range for Cobb's services:

The Packers may have set a ceiling of $10 million per year with Cobb since that is what veteran Jordy Nelson receives and they probably don't want to pay him more. Cobb appears to have a higher number than that. One source said the word going around at the NFL combine league personnel staff and executives was that his price was $12 million per year.

Cobb Contract Talks Likely To Go To Final Hours

Sunday, March 1

Jason Wilde of ESPN Wisconsin reported on talks between the Packers and Cobb as free agency approaches:

According to two NFL sources familiar with the Packers plans, the team hasn’t in any way given up on its efforts to re-sign Cobb, who caught 91 passes for 1,287 yards and 12 touchdowns in 2014, his fourth NFL season. Set to turn 25 in August, Cobb is viewed as a core player that the Packers definitely want to keep. In fact, a third NFL source at the NFL Scouting Combine last week said the Packers had told the representatives for their other free agents – a list that includes cornerbacks Tramon Williams and Davon House, backup quarterbacks Matt Flynn and Scott Tolzien and Pro Bowl fullback John Kuhn – that their focus as of now is on Cobb and right tackle Bryan Bulaga. ESPN.com’s Rob Demovsky filed a similar report, citing multiple sources. (...) The Packers have until Monday at 3 p.m. Central time to put the franchise tag on Cobb, if they decide to use it on him. Packers general manager Ted Thompson has used the franchise tag only twice before: On defensive lineman Corey Williams in 2008 before trading him to the Cleveland Browns, and on nose tackle Ryan Pickett in 2010, before signing him to a new long-term deal. Whether they tag Cobb or not, it seems likely that negotiations with Sexton will go down to the final hours before the free-agent market opens on March 10. Last year, the Packers got a deal done with cornerback Sam Shields (four years, $39 million, $12.5 million signing bonus) just as free agency was set to begin.

Cobb Comments on Free-Agency Rumors

Thursday, Feb. 26

Cobb took to Twitter to respond to the rumors circulating about his impending free agency:

GM Ted Thompson Comments on Cobb

Thursday, Feb. 19

Packers general manager Ted Thompson spoke about the team's free agency, including talks regarding Randall Cobb. Thompson said the following, per Tyler Dunne of the Journal Sentinel:

We’re working on several different levels with several different people. Like I say, it’s no secret. We say the same thing every year, we mean it. It’s not a secret that we try to keep and maintain our own guys as much as possible. We feel like that’s a good investment for the organization. We feel like, especially, if we have good people like we do, we’d like to do that. We’re trying to do that with Randall.

Cobb Re-Signing Important to Packers

Monday, Feb. 16

Cobb had his 2013 cut short by a knee injury, playing in just six games. It was a disappointing turn of events following his breakout campaign the year before. The good news for the Packers, and his market value, is that he bounced back in a major way.

The Kentucky product finished the regular season with 91 catches for nearly 1,300 yards and 12 touchdowns. All of those numbers marked career highs. Just as importantly, he was able to avoid any notable injury setbacks, as he appeared in all 16 games.

And the injury certainly didn't sap any of the explosiveness. Pro Football Focus noted the leaders in yards after the catch and Cobb ranked near the top:

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The combination of Cobb and Jordy Nelson gave Aaron Rodgers as talented of a one-two punch to work with as there was in the league. Now the question is whether the Packers will be able to keep that trio together moving forward.

Cobb is a special talent who should be entering the prime of his career. Playing his prime in a familiar area with Rodgers at the helm should make him an even better investment for the future.