I expect Cobb to field offers starting on Saturday after he's allowed. That will give the Packers his actual market value.
Then the Packers can match the offer.
Technically, we'd only have the right to do so if we had put the transition tag on Cobb.
In theory, you'd hope that Cobb's camp would come to us in good faith and say, 'here's our offers, what can you do?' but they aren't obligated to.
I think it's unlikely anyway, if the 11M-13M reports are true, that TT strays that far away from his price point.