Inside: The biggest stories to know as the “negotiating period” of free agency is officially open. Teams, agents and impending free agents can begin announcing agreed-upon contracts, to be signed this Wednesday.
For immediate reactions, catch Robert Mays and Derrik Klassen of “The Athletic Football Show,” already live on YouTube. Dianna and Chase Daniel also go live with Chris Branch on the “Scoop City” podcast at 3 p.m.
As for your favorite NFL newsletter (right?!), let’s catch up on a busy weekend, piece by piece.
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What Already Happened?
Once the Rams signed Davante Adams to a two-year, $46 million deal yesterday, I found the perfect photo of him and Cooper Kupp, whose days as a Ram had felt numbered. The 32-year-old Adams offers X receiver ability, making him a better complement to Puka Nacua, the focal point of the passing offense moving forward, as Sean McVay and GM Les Snead have made clear.
What now for the 31-year-old Kupp? Rams reporter Jourdan Rodrigue suggested the Patriots, Steelers, Chiefs or Broncos are possible landing spots for the talented slot, who hasn’t played more than 12 games since 2021.
Given the Rams’ desire to do right by their Super Bowl MVP, Kupp could be released ahead of his $7.5 million roster bonus, due March 17, allowing him to maximize his suitors in free agency.
Win-now Raiders trade for Geno Smith. Thursday night, our boss mentioned he was sensing a Smith trade. Bold, I thought, since Seahawks GM John Schneider had said at the combine that there was “no” doubt Smith was their guy for 2025.
Sure enough, shortly after we hit send on the following morning’s newsletter, Smith was moved to Las Vegas for a third-round pick. The 34-year-old quarterback reunites with Pete Carroll and is likely to land an extension, likely for three years and just north of $40 million per year.
This changes the focus for Carroll, minority owner Tom Brady and GM John Spytek, who will look to retain their better defensive players while improving Smith’s surroundings. Running back and guard could come via the draft, where the Raiders hold picks No. 6, 37 and 68, while receiver sounds like a priority in free agency.
Seattle also released staple WR Tyler Lockett and sent star WR DK Metcalf to the Steelers for a late second-round pick, thus shipping their highest-profile players seeking extensions. The Seahawks now hold five picks in the first three rounds.
But don’t call it a rebuild. Seattle locked up valuable defensive pieces in DT Jarran Reed and LB Ernest Jones IV, while beat reporter Michael-Shawn Duggar explains how the Seahawks plan to compete immediately, starting with an improved offensive line (finally!) and emphasis on the run. Plus, there might be more on the way …
As Dianna first reported, Seattle hopes to replace Smith with Sam Darnold, who is about seven years younger and probably just as expensive ($45 million per year?). If the conversation in Seattle was either Smith or Darnold and a third-round pick, the trade makes sense, right? You can’t blame them for going in that direction after Darnold made this throw in Seattle:
Either way, prior to making that trade, Seattle must have felt confident in landing their quarterback. Darnold appears to be the No. 1 option, but they are also expected to speak with Aaron Rodgers, with whom Seahawks GM John Schneider worked with for five years in Green Bay.
In Pittsburgh, Metcalf improves the environment for the next QB. After the trade, Pittsburgh promptly signed the 27-year-old WR to a five-year, $150 million extension. Jeff Howe graded it a B+ for the Steelers.
Paired with Pickens, Metcalf makes their offense attractive to veteran quarterbacks like Darnold or Rodgers, though beat reporter Mike DeFabo has written that “it’s become clear from team and league sources that Fields is the preferred” in-house option. They’ll need to outbid the Jets, who are expected to push for the 26-year-old (whom Pittsburgh benched after a 4-2 start).
Josh Allen agreed to a six-year, $330 million extension yesterday, with an NFL-record $250 million of it guaranteed, making him the first player to eclipse Deshaun Watson’s $230 million. Beat reporter Joe Buscaglia explains how this could save Buffalo $10 million in 2025 cap space.
Buffalo also saved more by releasing Von Miller and extending three other ascending players, including 24-year-old DE Greg Rousseau.
What does this mean for RB James Cook, the potential 2026 free agent who needs to improve his pass blocking? Beat reporter Joe Buscaglia told me this:
“I think they’re open to signing him long-term, but I’d guess they’re not going to go overboard on it and want to see what 2025 looks like. He’s very much a part of their plan this year.”
Myles Garrett saga ends without a trade. He said he never intended to go from Cleveland to Canton, but after the Browns offered to make him the highest-paid non-quarterback in NFL history — at $40 million per year — he had a change of heart.
Lot of that going around. Remember last week, when Albert Breer reported DK Metcalf wanted to land somewhere warm? He settled for $30 million a year and (probably) a pretty nice fireplace.
As for the Giants, they remain all over the place. Beat reporter Charlotte Carroll shares the Giants’ options, a list that includes Rodgers, Darnold, Fields or — my prediction — Russell Wilson. Charlotte also notes that “less-inspiring stopgaps, including Mac Jones, Marcus Mariota, Gardner Minshew” and others are available. Oof.
But hey, signing a veteran quarterback could reduce the Titans’ leverage in trade talks for No. 1, as I’d expect the Giants to use an early draft pick on a quarterback. A young, promising QB like Miami’s Cam Ward might be the only way for New York’s regime to salvage their jobs.
And finally, my faith in the Bengals’ leadership: 📉. Those Garrett and Metcalf contracts will be referenced in negotiations for players like Ja’Marr Chase, Tee Higgins and — if he stays — Trey Hendrickson. That trio could’ve been extended for:
- Chase: $35 million APY
- Higgins: $25 million APY
- Hendrickson: $25 million APY
Instead, they’ll now have to pay Chase $40 million-plus, and the other two could approach $30 million each. That’s about $15 million per year in cap space, sacrificed for no reason. At least re-signing TE Mike Gesicki was a positive.
After all that, who is still available? Let’s find out.
Best players, situations available
A quick glance at salary caps (via Over the Cap) shows four teams over $70 million in cap room:
Each also has a starting quarterback for 2025, so they should feature heavily in the conversations about plenty of the best available free agents.
The best at each position group, with our overall rankings in parentheses:
QB: Darnold (No. 4 overall). With the Seahawks, Giants and Steelers all potential landing spots, he’s likely to be the first domino in a series that includes Rodgers, Wilson and Fields. Projection: Seattle for four years.
RB Najee Harris (45). You’ll rarely see him do these three things: break a 20-yard run, miss time or fail to work hard. He fits any team looking for a reliable runner to pair with a speed back. Projection: Chargers sign him to a one-year deal, giving Jim Harbaugh a replacement for FAs Gus Edwards and JK Dobbins.
WR: Chris Godwin (2). By far the most coveted receiver in this class, the 29-year-old was leading the NFL in yards after the catch prior to his ankle injury. Projection: Buccaneers don’t let him leave, despite Jalen McMillan’s late-season emergence.
TE: Juwan Johnson (13). The 28-year-old Saint is a talented receiving threat and better blocker than most realize. Projection: Jets could use a Tyler Conklin replacement.
OL: Will Fries (14). The 26-year-old guard started all 17 games for the Colts in 2023 before injuries limited him to five last season. If healthy, he is a top-10 guard and boon to any run game. Projection: Vikings pay up to have Fries block for recently re-signed RB Aaron Jones.
DL: Milton Williams (1). The best player available has never topped five sacks in a season, but the 25-year-old former third-round pick had two sacks for the Eagles in the Super Bowl. Projection: Patriots pair him with (hopefully returning) DT Christian Barnmore, DL Keion White and recently signed edge Harold Landry to form a suddenly imposing line. Don’t expect Mike Vrabel’s team to stop there.
LB: Josh Sweat (3). The Eagles likely lose two Super Bowl heroes (Sweat had 2.5 sacks in that game). Still only 27, he enters his eighth season as the best edge option. Projection: Cardinals reunite him with former DC Jonathan Gannon on a three-year deal.
DB: Justin Reid (5). The 28-year-old is a vital chess piece in Steve Spagnuolo’s defense, where he stops the run, rushes the passer and drops back into coverage. Projection: Chiefs don’t let him go. Three-year deal.
Despite the weekend’s onslaught of trades and extensions, there are plenty of other talented players — like edge Khalil Mack and CB DJ Reed — also listed among The Athletic‘s Top 150 available.
Elsewhere, is more news already happening? Yes. Stay tuned to the live blog for all the latest, and we’ll catch up again here tomorrow.
How about a mock?
Wait a second?! Just hours prior to the opening of the legal tampering window, draft guru Nick Baumgardner shared his updated mock draft. One pick is particularly telling: At No. 2, the Browns draft QB Cam Ward. That had to be part of their pitch to Myles Garrett, right? Check out the full mock here.
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(Photos: Katelyn Mulcahy/Getty Images, Jordon Kelly/Icon Sportswire via Getty Images)
