The report did not cite any sources.
Theoretically, Green Bay could apply the franchise tag to Flynn and then trade him rather than simply letting him become a free agent. That would be allowed by the league, though not encouraged. Teams have until March 5 to use the franchise tag.
It's prohibited for teams to agree to such a deal before the franchise tag deadline, and one unnamed NFL team executive told the website that would be farther than Thompson is willing to go.
"(Thompson) doesn't bend the rules," the executive said.
The franchise tag for quarterbacks is expected to be valued at $14.4 million for the 2012 season. The Packers would have to maneuver to fit that contract under the salary cap, according to the report, a number which would also be significantly more than the contract of starting quarterback Aaron Rodgers (whose base salary is $8 million).