5. The Packers could squat on Favre
Another possibility would be for the Packers to keep Favre around for the rest of training camp, preseason and regular season. To do so, however, they'd have to be willing to pay him $12 million to hold a clipboard, and they'd need to bury him so deep on the depth chart that he wouldn't be the guy to take the field if/when Aaron Rodgers sustains an injury, even if he is knocked out for only one play.

Really, once Favre is back on the field, it'll be nearly impossible to get him off it.
So it's highly unlikely that the Packers will keep Favre on the roster once the regular season begins.

6. The Packers could hold Favre until the eve of Week 1
The most likely option at this point is that the Packers will welcome Favre back, make him the fourth-string quarterback, minimize his reps in team drills (a season-ending injury would force the team to pay him $12 million) and then cut him as late as they can before his $12 million salary becomes guaranteed.

By cutting him as late as Friday, Sept. 5, Favre's $12 million salary for 2008 would evaporate and he'd have to negotiate a new deal with a new team and try to get up to speed on their playbook as soon as possible. As a practical matter, it would make it difficult -- if not impossible -- for Favre to play for the Vikings in Week 1 at Lambeau. By the time the Packers and Vikings get back together on Nov. 9 in Minnesota, however, Favre would be ready to take a piece out of the Packers.

There could be other permutations and possibilities, and this story has been sufficiently bizarre to suggest that the final act currently is on nobody's radar. Regardless, the simmering standoff between player and team exploded Sunday. Where everyone will be when the debris settles is anyone's guess.

7. The Packers could give Favre a shot
This option appears to be, for now at least, the one the Packers will employ: Give Favre a fair shot at reclaiming the starting job that was handed to Aaron Rodgers, who in three NFL seasons has yet to start a game.

It makes the most sense, but why didn't the Packers commit to this approach when Favre asked more than a month ago to return? They say that it's better for wisdom to come late than not at all, but it's hard to believe a team that was poised to pay Favre more than $20 million on Saturday had an epiphany once Favre boarded a plane.

The competition could be a way for the team to buy even more time. If Favre looks good in camp, and if other teams think the Packers are serious about keeping him, a trade market might emerge.

Special feature Favre returns After being reinstated by the NFL, Brett Favre arrives in Green Bay to rejoin the Packers.

Or maybe Favre can't overcome the one-week head start Rodgers has received, and the Packers then decide on the eve of the regular season to grant Favre his release, which as mentioned above would limit Favre's ability to get up to speed with the Vikings, Lions or Bears.

Or maybe Favre will overcome the head start, but coach Mike McCarthy will decide that Rodgers is still the better option, and Favre will be cut before his $12 million salary becomes guaranteed at the start of the regular season.

Slide show Fabulous Favre Top moments from quarterback’s record-breaking career.

The biggest risk the Packers are taking, apart from a fractured locker room and negative P.R., is that a season-ending injury to Favre will cost not $20 million over 10 seasons, but $12 million over one. or now, however, the Packers seem to be willing to take that risk--primarily because they have no other option.