The Chicago Bears announced on Friday that they applied the franchise designation to running back Matt Forte as the sides continue to work on a long-term contract.

Teams could apply the tag from Feb. 20 through Mar. 5 at 4 p.m. ET as a method of preventing players from exploring the open market. The designation means Forte will play the 2012 season for a base salary of $7.7 million. But it's believed the team applied the tag to buy it more time to come to an accord with Forte on a long-term agreement.

The sides can continue to negotiate until the July 16 deadline for teams to franchise players to multiyear extensions.

"Matt is an important part of our football team and we chose to utilize the franchise tag to ensure he remains a Bear," general manager Phil Emery said. "We believe in Matt as a player and a person. Our intention is to continue to work to find common ground and keep Matt as a member of the Chicago Bears in 2012 and beyond."

Team president Ted Phillips made it clear the team won't let Forte test free agency, which begins at 4 p.m. ET on March 13. Forte said he was amenable to the franchise designation if "they're doing (it) to just get more time in order to negotiate a long-term deal. But if it's just to hold me another year, that's not going to solve anything."

"We'd like to (sign Forte to a new deal)," Phillips told "The Waddle & Silvy Show" on ESPN 1000 last month. "We don't have any intention of letting Matt hit the open market. We'll sit down with him privately -- Phil (Emery) will -- and discuss what the plans are prior to the Feb. 20 franchise tag date."

The sides met during the NFL combine in Indianapolis to continue working on a potential deal that originally fell apart prior to the 2011 season opener.

Emery called the franchise tag "a tool that has been collectively bargained" during his Jan. 30 introductory press conference.

The franchise tag value for 2012 is calculated as a percentage of the overall salary cap figure for the previous five years, which is different than years past when the tender was determined by taking the average of the NFL's top five salaries at each position.