The Green Bay Packers have signed starting tight end Jermichael Finley to a new contract.  Finley was scheduled to be an unrestricted free agent next month.  According to published reports, Finley agreed to a two-year deal worth slightly less than $15 million.

Finley started all 16 games in 2011 after missing the final 11 games the previous season due to injury.  He finished with 55 catches for 767 yards and eight touchdowns although he also dropped more passes than expected during the course of the season.

On his Twitter account, Finley confirmed the signing.  “It’s TRUE!,” Finely wrote. “Thank you so much to the Packers organization, all of my fans, and my beautiful wife. Happy Bday. Let’s GO Packers!!”

Because he creates mismatches, Finley’s value to the Packers goes beyond mere numbers.  At 6’5″, he is too big for most safeties to adequately cover and because he has wide receiver-type speed, linebackers cannot keep up with him in man-to-man coverage.

There was some discussion by Finley’s agent that he wanted his client to be counted as a wide receiver if the Packers placed the franchise tag on him because he lined up wide on approximately 46 percent of the Packers plays.  The new deal averages nearly $7.5 million per season, which is roughly the midway point between the franchise tag salary for wide receivers and the franchise tag salary for tight ends.

With Finley signed, the Packers have the option of using their franchise tag on a different player.  Among the candidates are backup quarterback Matt Flynn and Pro Bowl center Scott Wells.  The possibility remains that GM Ted Thompson could franchise Flynn and then trade him.  If Flynn departs as an unrestricted free agent, the Packers would receive no immediate compensation for him.  Wells and the Packers remain far apart on a contract according to the center’s agent and team sources.