Good player and I hope they resign him. But no way would I tag him. That is really a last resort to keep a great player. And for all that tag money, all you get is one year of service. Then if you want to tag him again its 120% pay raise.
Not the transition tag. It's actually a very good way to let the player and his agent feel out the rest of the league, gauge other team's interest, and figure out his true value. If another team makes an offer, be get the chance to match it or let him go. If no teams make offers, then he comes back and takes a lesser deal.
If no team makes and offer, and he still won't take an reasonable deal from us, the team can remove the tag and not pay him the $10.8M. He would become a FA at that point. It's really a win/win for everyone.