The Lions should politely say, "Thanks, but no thanks."
Freeney's best years are very clearly behind him. Yes, he could have topped eight sacks again had he been healthy all 16 games in 2012 and the Lions do lack just about any outside pass-rushing presence.
However, the fact is Freeney wants one last big payday and the Lions should absolutely not bite.
If what NFL Network's Albert Breer tweeted is accurate, getting Freeney will just be way more expensive than what the Lions should spend:
Maybe $6 million per year doesn't seem like a ton, but if you were going to pay that money out, why not pay Cliff Avril? He got a two-year, $13 million contract, he's half Freeney's age and as (if not more) productive.
Give your own players a long-term contract, don't overpay for an aging veteran.
Why didn't the Lions make a real run at Connor Barwin? The Eagles got him for $36 million over six years. While the guaranteed money might have been an issue up front, the long-term investment would have made more sense.
In the end, spending what Freeney wants isn't going to get the Lions closer to a playoff berth—it would just get Freeney closer to a secure retirement fund.