He could, but if he's a man of his word, he won't sign the tag tender and, therefore, he'll sit out the next season if they can't work out a long term deal this off-season.

I doubt that in that scenario the Saints and Brees would be trying to work out a long term contract after the fact, and I don't know what sitting out an entire season would do to Brees' market value.

yeah, but by sitting out, he just hurts himself as well ... what's he got? Until June/July to sign that thing ... everyone will come around by then.

You get no argument from me there, but he has stated that he won't play under the tag, so if the sides can't come to a long term decision by June 15th (I think) - he is forced to either stand by that proclamation or give into the Saints' decision. But, by giving into playing under the tag, he would in affect display that he can be strong-armed into agreeing to unfavorable terms. This could be something that would hurt him further down the line during his next contract negotiations - whomever they would be with.

I still hope and believe that Brees and the Saints will be able to come to terms on a long term contract before the tender deadline - one which will be lower than the $23-24M for the initial years that has been suggested to be what Brees' side is asking for.

... I see what you mean, I didn't realize he had said he wouldn't play under the franchise tag ...