WIST-AM New Orleans is reporting that Drew Brees is “livid” about being franchised tagged and will not sign his tender.

Drew Brees is “livid” about being franchise tagged and not receiving a long-term contract, according to WIST-AM in New Orleans. The radio station cites sources in the Brees camp that he will not sign the franchise tag deal. Brees and the Saints have until July 15 to hammer out a long-term deal. If a deal isn’t struck, Brees must sign the franchise tag deal or hold out.

Brees doesn’t seem like the type to be “livid” about anything, so there’s a chance that this report isn’t accurate. But if it is, how bad could things continue to get in New Orleans?

I don’t think there’s a chance in Hades that the Saints don’t figure out a way to lock up Brees long term, but they’re facing some major issues right now. They’re currently awaiting punishment from the league for their “bounty program” fiasco, their best offensive lineman (Carl Nicks) and No. 1 receiver (Marques Colston) are about to hit the open market, and Brees’ contract situation is a mess. They’re even scheduled to work out Randy Moss on Tuesday for cribs’ sake.

The Saints have been a NFL powerhouse for the last three years but their roster could look very different come next fall. Don’t forget that along with Nicks and Colston, Robert Meachem is also a free agent and there’s talk that middle linebacker Jonathan Vilma will be released. The team did well to hire Steve Spagnuolo to replace Gregg Williams as their next defensive coordinator but their linebacker corps remains weak and outside of Will Smith, the cupboard isn’t exactly stacked with quality pass rushers.

Things will eventually start to stabilize again in New Orleans. But by that point, will they have forked over a couple of draft picks and watched some of their top players depart in free agency?

According to ESPN’s Adam Schefter, the New Orleans Saints and free agent Drew Brees remain “well apart” in contract talks, which presents a problem with Monday’s franchise tag deadline approaching fast.

As of right now, the issue isn’t whether or not the Saints will be able to re-sign Brees. The issue is whether or not they’ll be able to re-sign him by Monday and therefore avoid having to tag him so he doesn’t hit the open market come mid March. Brees hasn’t given any indication that he wants to leave New Orleans but the Saints can’t risk losing their most valuable player.

If the two sides don’t come to an agreement by Monday and the Saints do use their franchise tag on Brees, then they’ll risk losing fellow free agents Marques Colston and Carl Nicks. Colston is the team’s No. 1 receiver while Nicks is one of the best guards in the league. Both players have stated that they want to return to New Orleans but they’re also due pay raises.

Per Schefter’s report, Brees told the New Orleans Times-Picayune last week that he was confident he would reach a deal with the Saints. But he appears to be targeting a contract that will make him the highest-paid quarterback in the NFL and when you’re dealing with that kind of money, a deal takes time to structure.

But time isn’t on the Saints’ side. Again, the Saints aren’t in immediate danger of losing Brees but if they would be in much better shape if they can get a deal done this weekend and then at least have the option to tag either Colston or Nicks.