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Welker On Franchise Tag: 'That's A Lot Of Money'

BOSTON (CBS) – If New England Patriots receiver Wes Welker is bitter about receiving the team's franchise tag this offseason, he is doing his best not to show it.

"I'm just excited to be back with the Patriots, and excited to know I'm going to be here this next year, and looking forward to the season," Welker told ESPNNewYork after modeling the new Nike NFL uniforms at an event.

Welker will make $9.5 million if he signs his tender, but is not sure when he will do that. The Patriots wide out wanted a long-term extension in the offseason, but now sounds like he doesn't mind the franchise tag.

Watch: Welker's Adult Diaper Commercial

"It will be half of what I made my whole contract this past [time] around. Not too bad," he said.

Despite seemingly being OK with the franchise tag, Welker admitted to the NFL Network's Albert Breer that he doesn't yet know if he'll participate in offseason workouts with the Patriots.

"I don't know," Welker said. "I'm not quite sure yet. We'll have to wait and see how things go. But to tell you the truth, I really haven't made up my mind yet."

Welker said there was no progress that he knew of when it comes to a contract extension from New England, but again, he really isn't too disappointed about it.

Photos: Patriots Free Agent Signings

"That's a lot of money, so I'm definitely kind of excited about it," he said.

Welker led the Patriots with 172 receptions for 1569 yards in 2011, adding a career-high nine touchdown receptions.

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