Deion Branch believes the hills are alive with NFL teams waiting to throw $40 million deals at him.

Yesterday, the Patriots called his bluff. They gave their holdout wide receiver and his agent Jason Chayut until 4 p.m. Friday to find a team that will a) give Branch enough money to satisfy him and b) give the Patriots enough players and/or draft picks to satisfy them.

Chayut wasn't returning calls yesterday and the Patriots had no other comment aside from their statement giving Branch "permission to seek a trade and negotiate a contract with other clubs. This permission will extend until September 1, 2006."

To recap the situation: Branch signed a five-year deal in 2002 after being selected with the 65th overall pick. The 26-year-old is the team's best receiver and a former Super Bowl MVP. He's going to make $1.045 million this season, a figure far less than what comparable players at his position make. The Patriots have made him two contract extension offers -- one for five years and one for three years. The three-year offer made in May was to pay Branch a $4 million bonus this season, a $4 million guaranteed option bonus next September and salaries of $1.4, $4.3 and $4.75 million. That averages out to more than $6 million per year over the life of the deal and makes Branch a free agent at the prime earning age of 29.

Chayut, who termed that offer insulting, alleged that the team originally was going to give Branch a four-year deal in 2002 but decided it wanted him on a five-year deal after watching him work out at the rookie mini-camp. Chayut said that, with the Patriots coming off a Super Bowl win, Branch felt compelled to agree to the deal. As a result of that, Chayut divides all extension offers the Patriots make to Branch by an additional year. So he views the three-year extension as a four-year offer and feels the offer is actually for less than $5 million per year. With Chayut pining for a contract like the one the Colts gave to free agent Reggie Wayne (6 years, $40 million with a $13.5 million bonus), his math says Branch is getting a below-market deal.

The key difference is that Wayne was a free agent and Branch is not. He's still under contract. And since he's under contract, the Patriots are able to fine him up to $14,000 per day dating back to July 27. The tab as of today is $434,000.

If Branch doesn't report by the 10th week of the NFL season (by which time he could have rolled up $1,512 million in AWOL fines), he won't get credit for the 2006 season and will still have a year left on his deal.

Earlier this week, Branch told a Boston TV station that he believed, "everything is going to work out." Yet there have still been no conversations between Branch's camp and the Patriots.

A league source said yesterday, "This takes it up a notch. The Patriots are saying, 'We're not going to change our stance so if you want something else, you have to give us something else.' The only leverage the player has is his services. At this point, the player's leverage is at its greatest but the team still holds the hammer because it has a contract."

Yesterday's move prompts three key questions.

1) Will Branch be traded? Unlikely. First, a team would have to satisfy his demands with a deal superior to Wayne's. As good as Branch is, Wayne is better. And even beyond that, Wayne was overpaid by Indy. Second, nobody knows what the Pats asking price would be but given Branch's ability level, they could reasonably ask for at least a first-round pick. That's steep.

2) Why did the Patriots make this move? They've decided enough is enough. Nothing's getting any better. Nothing's getting any worse. Nothing's happening at all and the season begins in 15 days. This kicks the snowball over the edge of the hill. When it stops rolling, Branch will either be in uniform for the team or the team can move on knowing it made its effort.

3) Is it an unfair move by the Patriots? No. It's very shrewd, actually. Allowing Chayut to take offers will, the Patriots believe, help the Branch camp see that the three and five-year deals they extended him are good deals. And maybe better than anything they'll find. When a player that's under contract wants an extension, he has to concede that he is not a free agent and take less than what comparable players who did get deals through free agency.

While initial reaction to this move may have been that the Patriots are seeking to rid themselves of Branch, the opposite is probably true. They want him on the team. The quarterback wants him on the team. They need him on the field. They are making a move to jump-start talks. Taking the issue to the streets puts the onus on Branch and Chayut, saying, "You think there's something better out there, go find it. You have one week."

It should be an interesting seven days.

tcurran@projo.com / (401) 277-7340