The Packers declined to use their franchise tag on the star receiver, the Milwaukee Journal Sentinel first reported. They would have had to offer Jennings a one-year, $10.5-million contract in guaranteed money and decided instead to prepare for a potential salary-cap crunch.
Green Bay technically could still bring him back as a free agent, but top receivers are hard to come by this off-season so chances are another team will be willing to pay top dollar for the two-time Pro Bowler. New England, Minnesota, Seattle, Miami and the New York Jets are all considered possible suitors.
Jennings, 29, was drafted by the Packers in the second round of the 2006 draft and was the team's leading receiver from 2008-10. He has caught 425 passes for 6,537 yards and 53 touchdowns but has missed 11 games during the last two seasons.
Green Bay is about $22 million under the salary cap but will be faced with signing the likes of Rodgers, linebacker Clay Matthews and defensive tackle B.J. Raji in the next few seasons. The team released veteran defensive back Charles Woodson, and longtime receiver Donald Driver retired this off-season.