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If the Steelers don’t franchise Bell, I predict he ultimately signs (with whomever) for considerably less than he would have received under the franchise tag. Franchising Bell is like something Daniel Snyder would have done 20 years ago when he repeatedly tried to buy a championship.
In other words, he's not worth his contract. ( 14.5M in 2018 ) I agree, but there are 31 other teams out there...