Update:

Ian Rapoport confirms that signing free agent RB LeGarrette Blount to a contract between now and July 22 would impact a team’s 2018 compensatory formula.

This will likely have an impact on his market and may actually increase the odds of him re-signing with the Patriots this summer.

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Mike Florio of Pro Football Talk reports that the Patriots tendered free agent RB LeGarrette Blount a May 9 offer that would pay him 110 percent of his total 2016 compensation.

NFL teams can tender offers to unrestricted free agents before May 9 and in turn obtain exclusive negotiating rights with the player if he doesn’t sign elsewhere before July 22. If Blount were to sign with a new team prior to July 22, he would count against the team’s compensatory picks in 2018.

This means that if Blount is still unsigned as of July 22, he can only agree to a deal with the Patriots until Week 10 of the regular season.

Blount would make $1.1 million for the 2017 season under this tender. However, Jeff Howe reports that Blount has no plans to sign the Patriots’ tender at the moment.

It’s worth mentioning that the Giants and Lions have both come up as potential landing spots for Blount in recent weeks.

Blount, 30, originally signed on with the Titans as an undrafted free agent out of Oregon back in 2010. He was unable to make the Titans’ 53-man roster during his rookie season but was later claimed off of waivers by the Buccaneers.

Tampa Bay elected to trade Blount to the Patriots in return for Jeff Demps and a late-round pick after three years. Blount had a brief stint with the Steelers before he was cut loose during the 2013 season and later re-signed by the Patriots.

Last year, the Patriots brought Blount back on a one-year, $760,000 contract.

In 2016, Blount rushed for 1,161 yards on 299 carries (3.9 YPC) to go along with 18 rushing touchdowns and seven receptions for 38 yards receiving. Pro Football Focus has him rated as the No. 39 running back out of 62 qualifying players.

We have him featured in our Top 50 Available Free Agents list.