Seattle's willingness to let Graham walk comes as no surprise.
Here's where it gets interesting, however: New Orleans is among the teams interested in pursuing Graham once he reaches the open market, sources informed of the situation have told Pelissero.
The Saints shocked the football world three years ago when they dealt Graham to the Emerald City just eight months after making him the highest-paid tight end in the league. Accompanied by whispers that Graham had fallen out of favor with quarterback Drew Brees, his departure came amid salary-cap concerns and the early stages of a philosophical shift that would allow head coach Sean Payton to rebuild his defense and ground attack.
Now, Payton is prying open another Super Bowl window with an improved defense, the NFL's most lethal running game and a more flexible salary cap.
While Graham is no longer the explosive mismatch he once was in the open field, he remains a highly effective red-zone weapon. As Brees enters the twilight years of an illustrious career, it stands to reason that he would embrace a reunion with Graham as an upgrade over free-agent bust Coby Fleener at tight end.