Colts Sign WR Nick Westbrook-Ikhine, LB Akeem Davis-Gaither
Continuing a hyphen-heavy transaction week, the Colts are adding some veteran depth on both sides of the ball. Nick Westbrook-Ikhine and Akeem Davis-Gaither are signing with the team, the Colts announced.
Lou Anarumo‘s reunions with hyphenated ex-Bengals already included a Tuesday Cam Taylor-Britt agreement. Davis-Gaither, who played for Cincinnati from 2020-24 under Indianapolis’ current DC, will join the Colts after a season with the Cardinals.
Westbrook-Ikhine comes over after a season in Miami, but he is certainly better known to Colts fans as a longtime Titans auxiliary wideout. The former Ryan Tannehill target spent five years in Tennessee before moving to Miami last year. Westbrook-Ikhine posted two 400-plus-yard seasons, including a 476-yard, four-TD campaign for a Titans team that claimed the AFC’s No. 1 seed in 2021.
Three years later, Westbrook-Ikhine managed nine touchdown grabs on just 32 receptions — including a 98-yard score. Two of those nine TDs came against the Colts. The 6-foot-2 pass catcher, 29 on Saturday, signed a two-year, $5.99MM Dolphins deal in 2025 but caught only 11 passes as a Jaylen Waddle complementary option. Miami’s new regime, which is prepared to smash a single-season dead money record, released Westbrook-Ikhine recently (the seventh-year vet only counts $1.6MM toward Miami’s astonishing dead cap total — above $170MM when Tua Tagovailoa‘s release is factored in).
The Colts came into last season with a receiver surplus but dealt into it over the past five months, sending Adonai Mitchell to the Jets in the Sauce Gardner trade and Michael Pittman Jr. to the Steelers in a salary-dump move as payments for Alec Pierce and Daniel Jones loomed. Those moves could clear a path for Westbrook-Ikhine to be a low-cost WR3 alongside Pierce and Josh Downs.
Davis-Gaither, 28, made a career-high 13 starts for the Cardinals but received a pink slip earlier this month. He had previously been a role player under Anarumo, serving as a Logan Wilson–Germaine Pratt wingman at linebacker. This included three seasons with a snap rate of 30% or higher. Pratt and Wilson were the lead options, though, during Anarumo’s tenure. The Colts rostered Pratt last season, picking him up after a Raiders release, but have not brought him back just yet.
Intercepting a Tyler Huntley pass in the 2022 wild-card round, Davis-Gaither took on a bigger role with the Cardinals in 2025 but struggled. Pro Football Focus graded him in the bottom quartile among off-ball linebackers last season, though he did smash a career high with 117 tackles while adding an interception and five passes defensed.
The Colts have steadily dismantled their linebacking corps, moving on from Shaquille Leonard, E.J. Speed and Zaire Franklin over the past two-plus years. They sent Franklin to Green Bay for defensive tackle Colby Wooden. Jaylon Carlies currently serves as the top Indianapolis holdover LB, giving Davis-Gaither a path to a prominent role as it currently stands.
Colts Sign CB Cam Taylor-Britt
A Colts secondary loaded with big-ticket contracts will add a former second-round pick to the mix. Cam Taylor-Britt will reunite with former Bengals DC Lou Anarumo.
The Colts announced the ex-Bengals cornerback is signing with the team, continuing a busy stretch for the AFC South club in terms of defensive depth additions. Taylor-Britt visited the Bengals on Tuesday, according to NFL.com’s Tom Pelissero, who adds the Nebraska alum is signing a one-year deal with the Colts.
[RELATED: Bengals Made Offer To Trey Hendrickson]
Taylor-Britt, 26, joins Sauce Gardner, Charvarius Ward, Kenny Moore and Camryn Bynum in Indianapolis’ talented (and expensive) secondary. The team, which lost Nick Cross to the Commanders last week, will reunite Taylor-Britt with Anarumo — his DC from 2022-24 in Cincinnati.
Playing out his rookie contract with the Bengals, Taylor-Britt will be looking for a chance to bounce back after a lost contract year. The Bengals used the 2022 second-rounder as a full-time starter for most of Anarumo’s time running the defense, but Al Golden did not see this equation the same way.
The Bengals benched Taylor-Britt early last season, when he started just two of the eight games he played. The 5-foot-11 corner still played a regular role after a Week 3 demotion, hamstring and foot trouble plagued him at a key point on his NFL timeline. The foot issue led to a midseason shutdown, effectively ruining his contract year. The Colts will provide him another opportunity, and solid system intel should help here — though, a starting role does not appear to be in play at present.
Prior to allowing an alarming 134.1 passer rating as the closest defender in 2025, Taylor-Britt posted more workable numbers (78.0, 98.0) in this category during the 2023 and ’24 seasons. He intercepted seven passes between those campaigns, though the Bengals fired Anarumo after the team’s 2024 defensive regression. Taylor-Britt’s best season came in 2023, when he allowed 56.7% of passes as the closest defender to be completed. Pro Football Focus, however, has never rated him as a top-50 CB option. Taylor-Britt also pleaded guilty to reckless driving in January, potentially opening the door to a 2026 suspension under the personal conduct policy.
Ward considered retirement after a three-concussion 2025, but the ex-Chiefs and 49ers starter is expected back to join Gardner. Moore remains in the slot on a three-year, $30MM contract. Taylor-Britt has worked primarily as a boundary corner throughout his career. He joins Justin Walley, a 2025 third-round pick who missed his rookie season with an ACL tear, as depth options for Anarumo. The Bengals still have CBs Daxton Hill and DJ Turner on their rookie contracts, though both are now in platform years.
Colts Sign DT Jerry Tillery, Add Ex-Notre Dame Hoops Starter Carson Towt
Already bringing in veteran defensive tackle Derrick Nnadi, the Colts are importing another former Chiefs interior D-lineman. Jerry Tillery signed with the team today.
Indianapolis returns starters DeForest Buckner and Grover Stewart, but Nnadi and Tillery — the latter a 53-game starter and a former first-round pick — will be in place to supply depth.
The Colts are Tillery’s fifth NFL team. The former Chargers first-rounder — the No. 28 overall pick in 2019 — has also played for the Raiders and Vikings before a 2025 Chiefs commitment. Kansas City used Tillery mostly as a backup in its Chris Jones-fronted D-tackle corps, giving the 29-year-old defender three starts in 17 appearances. Tillery, though, started 11 games with the Vikings in 2024.
This marks a return to Indiana for Tillery, whose Notre Dame career booked him that first-round draft slot. A Louisiana native, Tillery played for the Fighting Irish from 2015-18 and closed his career with a second-team All-American nod. While Tillery racked up eight sacks during his final season in South Bend, he has not justified a first-round investment. The Colts have given chances to this type of player at this position recently, however, having employed Taven Bryan during the Chris Ballard regime.
Tillery has 14.5 career sacks in seven seasons, topping out at 4.5 with the 2021 Chargers. Pro Football Focus graded the veteran D-tackle outside the top 100 among qualified options during his season in Kansas City and 89th overall during his Minnesota season. Given a longer runway as a starter in Los Angeles (29 starts), the 295-pound defender logged 10 in Las Vegas from 2022-23.
Beyond the first-round investment, Tillery’s most notable NFL transaction came when the Raiders claimed him off waivers in November 2022. When the Bolts cut him, eight teams submitted claims. Then employing former Chargers DC Gus Bradley, the Colts were one of them. Now with Lou Anarumo running the defense, Ballard’s team will circle back. Indy has now added Nnadi, Tillery and Colby Wooden (from the Packers in a trade that sent Zaire Franklin to Green Bay) at DT this month.
On the subject of Notre Dame alums, former Fighting Irish basketball player Carson Towt also joined the team as a UDFA. The Colts announced that signing Tuesday as well. A seven-year college hoops career wrapped for Towt this month, as he closed out a 31-game season with the Fighting Irish. The Colts plan to try Towt at tight end.
Because Towt’s football eligibility expired before last year, per the Indianapolis Star’s Joel Erickson, he can sign with a team before the draft. The 6-foot-7 forward started 31 games for the ACC team, averaging 5.9 points and nine rebounds per game.
The season prior with Northern Arizona, Towt pulled down a Big Sky-leading 12.4 boards per game to go with 13.3 points per contest. Granted, the Lumberjacks play in a lower-level conference, but the Colts have certainly experienced success with this type of investment before. Mo Alie-Cox, who played collegiately at VCU, is going into his 10th Indianapolis season. The veteran tight end re-signed with the team last week.
In other Colts contract news on the defensive line, Arden Key‘s recent agreement — reported as a $20MM max-value pact — is worth $16MM over two years. Fellow edge rusher Micheal Clemons is joining the team on a three-year, $17MM deal; the ex-Jet’s contract carries $5.99MM guaranteed at signing, per OverTheCap. $1MM of Clemons’ $3.87MM 2027 base salary becomes fully guaranteed on Day 5 of the 2027 league year, with Erickson adding the fifth-year D-end is also due $1MM roster bonuses on Day 5 of the 2027 and ’28 league years.
Colts’ Anthony Richardson Drawing Interest; Packers Could Pursue QB
Colts quarterback Anthony Richardson requested a trade on Feb. 26, but a deal still has not come together almost three weeks later. While a trade is still not imminent, there are clubs interested in the 23-year-old, Stephen Holder of ESPN reports. The Packers are a team to watch, according to Holder.
As expected, Richardson lacks trade value in the wake of a rough three-year stretch to open his career. The 2023 fourth overall pick from Florida has struggled to perform and stay healthy in the NFL.
Injuries and demotions have held the athletically gifted Richardson to just 15 starts in Indianapolis. Richardson has thrown more interceptions (13) than touchdowns (11) en route to a disastrous 67.8 rating. He logged his most action in 2024, an 11-start year in which he recorded a horrid 47.7% completion rate on 264 attempts.
The Colts did not rule out Richardson winning their starting job last year, but he was unable to beat out free agent pickup Daniel Jones. Although Jones tore his Achilles in early December, he impressed enough to secure a two-year, $88MM extension this week. Jones is locked in as the Colts’ starter moving forward, making it unlikely Richardson will ever live up to his draft slot in Indianapolis.
Jones’ Achilles injury could have given Richardson a chance to step in and boost his stock, but he was also on the shelf then. Richardson suffered a season-ending orbital fracture in a freak accident with an exercise band in October. He has since been cleared to resume his football career.
With Jordan Love entrenched under center, the Packers are in better shape at QB than the Colts. That does not bode well for Richardson on paper, but one former backup has already revived his career in Green Bay in recent years. Back in August 2024, the Packers bought low on former Titans third-rounder Malik Willis, whom they acquired for a seventh-round selection. The move was a resounding success for both sides, as Willis emerged as one of the league’s most effective backups during his Packers tenure.
After Willis opened eyes over 11 appearances and three starts in Green Bay, the Dolphins inked him to a three-year, $67.5MM pact in free agency this week. Willis, 26, will earn a guaranteed $45MM in Miami, where he will enter next season as a starter. The 6-foot-4, 244-pound Richardson will hope for a similar fate if he follows Willis as a backup in Green Bay. The Packers’ current QB depth chart includes Love, Desmond Ridder and Kyle McCord.
Colts To Re-Sign TE Mo Alie-Cox
Mo Alie-Cox will remain in place with the Colts in 2026. The veteran tight end agreed to yet another Indianapolis deal on Saturday, NFL insider Jordan Schultz reports. 
To no surprise, Schultz notes this will be a one-year pact. Alie-Cox has played 128 combined regular and postseason games since entering the NFL in 2018. All of them have come as a member of the Colts. Team and player will continue this long-running relationship through 2026.
Alie-Cox spent much of his Colts tenure on a string of low-cost contracts while establishing himself as a key blocking presence on offense. The former UDFA’s most notable pact was signed in 2022; he inked a three-year, $17.55MM contract at that point. After playing out that deal, a one-year agreement was reached last offseason. The same has now taken place this spring.
On only two occasions in his career has Alie-Cox recorded more that 20 receptions in a season. His snap share checked in at 39% in 2025, so an uptick in offensive production should not be expected moving forward. As 2025 first-rounder Tyler Warren continues to develop, though, Alie-Cox will no doubt remain an important contributor as a run blocker.
Much of the Colts’ offense will remain intact from 2025 thanks to the new contracts worked out with quarterback Daniel Jones and receiver Alec Pierce in recent days. Alie-Cox, 32, will be another familiar face for head coach Shane Steichen and Co. as the team looks to bounce back from its late-season collapse. This latest pact will no doubt be another low-cost deal, so the Colts – who entered Saturday with roughly $42MM in cap space – will still have plenty of financial flexibility as free agency continues.
Colts Made Offer To Trey Hendrickson
In re-signing quarterback Daniel Jones and wide receiver Alec Pierce for up to $204MM this week, the Colts made a pair of major investments at the outset of free agency. The Colts were also involved in the derby for defensive end Trey Hendrickson, per ESPN’s Stephen Holder of ESPN, who reports they offered a deal worth around $25MM per year. That was not enough to match the Ravens’ winning proposal of four years and $112MM.
The Ravens reeled in Hendrickson the day after a blockbuster Maxx Crosby trade with the Raiders fell apart. Had Crosby passed his physical and ended up in Baltimore, perhaps Indianapolis would have stood a better chance to sign Hendrickson (Ravens GM Eric DeCosta wanted to acquire both players, though).
In moving to Indianapolis, Hendrickson would have reunited with Colts defensive coordinator Lou Anarumo. While playing for Anarumo in Cincinnati from 2021-24, Hendrickson racked up a whopping 57 sacks and earned all four of his Pro Bowl nods.
The Colts had been interested in the 31-year-old Hendrickson since his preseason holdout last summer, Holder relays. They were also in on Hendrickson leading up to the Nov. 4 trade deadline, but the Bengals elected to keep him for the rest of the year. However, a nagging hip injury prevented Hendrickson from taking the field after Oct. 26. Hendrickson ended the season with four sacks in seven games, but he nevertheless earned a massive payday thanks to an elite track record as a pass rusher.
The Colts’ defense ranked a decent 15th in sacks last year, but it was a bottom-feeding 30th in pass rush win rate. They have since lost edge rushers Kwity Paye and Samson Ebukam to free agency. Paye signed a three-year, $48MM contract with the Raiders, while Ebukam inked an undisclosed deal with the Falcons. To replace those two, the Colts brought in Arden Key for up to $20MM over two years and Micheal Clemons on a three-year, $17.5MM pact. Key and Clemons are not close to Hendrickson’s level, but the Colts will rely on the pair to provide useful complements to their top edge rusher, Laiatu Latu.
Colts Sign DT Derrick Nnadi, Re-Sign TE Andrew Ogletree
For a second straight offseason, Derrick Nnadi is leaving the Chiefs. Although Kansas City reacquired the veteran defensive tackle via trade (from the Jets) last summer, he is on the move again.
The Colts are adding Nnadi this year, announcing the signing. The team also re-signed tight end Andrew Ogletree and wide receiver Laquon Treadwell. Nnadi is a 98-game career starter; he joins a veteran-heavy Colts D-tackle cadre housing DeForest Buckner and Grover Stewart.
Chris Ballard was not in the Chiefs’ front office when the team selected Nnadi in the 2018 third round; the move came a year after the ex-John Dorsey lieutenant’s departure for Indianapolis. Nnadi is heading into an age-30 season. He will join Buckner (32 next week) and Stewart (32) as 30-somethings at defensive tackle in Indy.
Nnadi has been a career-long 4-3 D-tackle, playing most of his career under Steve Spagnuolo. The Chiefs’ run-stuffing Chris Jones sidekick played 34% of Kansas City’s defensive snaps last season, despite being reacquired in August. Pro Football Focus has not viewed Nnadi as a productive defender in years, ranking him outside the top 110 among qualified options at the position each season from 2022-25. The Chiefs, however, have consistently fielded top-10 defenses. Nnadi played in Super Bowl LIX and started Super Bowls LIV, LV and LVII.
As Nnadi joins Colby Wooden as new DTs acquired by the Colts over the past week, the AFC South club has rostered Ogletree since 2022 and Treadwell since 2024. Arriving during Frank Reich’s final draft as Colts HC, Ogletree has started 20 Colts games. The 2022 sixth-round pick ended up playing a more consistent role than 2022 third-rounder Jelani Woods, who has not played since his rookie season. The Colts cut Woods last year.
After logging 40% snap shares in both 2023 and ’24, Ogletree played 24% of Indianapolis’ plays in 2025. The Colts have used Ogletree more as a blocking tight end, and for good reason. Although not qualifying as a full-time TE in 2025, Ogletree drew the top pass-blocking grade among all players at the position. More than three quarters of Ogletree’s snaps came as a run or pass blocker.
For never coming close to living up to his first-round billing, Treadwell has managed to stick around. Should he see action in 2026, it would be his 11th NFL season. Treadwell, 30, has not caught a pass as a Colt; he did, however, see action on 51% of Indy’s special teams plays in 2025.
Colts To Sign S Jonathan Owens
Already home to WNBA superstar Caitlin Clark, Indianapolis will be poised to draw some Simone Biles visits soon. The Colts are bringing in veteran safety Jonathan Owens, ESPN’s Adam Schefter tweets.
Owens, who is married to the Olympic gold medal-winning gymnast, will join the Colts after spending the past two seasons with the Bears. This is a one-year contract, per Schefter.
Working as a part-time starter in Chicago, Owens has made 35 starts in seven seasons. Managing to carve out a long career out of Division II Missouri Western, Owens is obviously best known for his Biles relationship. But he has served as a long-running special teams presence — with the Texans and Packers prior to the Bears deal — and a valuable backup. Owens is going into an age-31 season.
Making 125 tackles as a full-season starter for the 2022 Texans, Owens landed a one-year $1MM Packers deal but secured a slight raise (two years, $3.8MM) with the Bears. Chicago used Owens as a five-game starter in 2024 and as a full-time backup behind Jaquan Brisker and Kevin Byard last season. The Bears have now lost Byard, Brisker, Owens and Nahshon Wright from their secondary this week. Byard joined the Patriots, with the Steelers and Jets respectively adding Brisker and Wright.
The Colts are also signing former Cowboys safety Juanyeh Thomas, NFL insider Jordan Schultz tweets. Thomas made three Cowboys starts last season and played three years in Dallas. Indianapolis has an opening at safety after losing starter Nick Cross (to the Commanders). The team will likely not devote notable funds to replacing him, as Camryn Bynum joins Sauce Gardner, Charvarius Ward and Kenny Moore in carrying pricey contracts in this secondary.
NFL Restructures: Jackson, Goff, Falcons, Packers, Panthers, Colts
Austin Jackson has been unable to stay healthy for a sizable chunk of his Dolphins career, and the veteran right tackle is accepting a pay cut in the final year of his contract. The Dolphins are reducing Jackson’s 2026 compensation to $7MM, ESPN.com’s Marcel Louis-Jacques tweets. The move created $8.5MM in cap space for Miami. Tied to a three-year deal worth $36MM, Jackson was to carry a $15.39MM cap number on the Dolphins’ 2026 payroll. That number is down to $6.9MM.
The Dolphins extended Jackson late in the 2023 season but saw him miss nine games in 2024 and 11 in 2025. This came after 15 absences in 2022. Jackson timed his 16-game 2023 season well, as it convinced then-Dolphins GM Chris Grier to extend him. A season-ending knee injury sidelined Jackson in November 2024, and he experienced a recovery setback during 2025 training camp. A toe injury sustained in Week 1 led Jackson to IR last season. The seventh-year veteran is still on track for free agency in 2027, but rather than try his luck on the market this year coming off two injury-marred seasons, the former first-round pick accepted this trim.
Here are the other deals recently restructured around the NFL:
- The Lions currently sit at $35MM-plus in cap space, getting there after releasing Taylor Decker and trading David Montgomery to the Texans. The main reason Detroit is that far under the cap, however, came when the team restructured Jared Goff‘s deal. The sixth-year Lions QB will see $40MM of his base salary converted into a bonus, per NFL.com’s Tom Pelissero, who notes a void year has been added to the deal. This saves $32MM in cap space for the Lions, who joined the Bills, Chiefs, Cowboys and Ravens in completing a recent QB restructure. Goff’s 2027 and ’28 cap hits are now beyond $62MM, likely leading the Lions to go to this well again.
- The Falcons are using the Jake Matthews contract to create more than $10MM in cap space. Matthews will see his salary knocked down to $2MM, with KPRC2’s Aaron Wilson noting a $14MM signing bonus will now be prorated into future years. As Connor Byrne’s Falcons Offseason Outlook noted, Matthews’ $27.27MM cap hit was the highest on the Falcons’ payroll. It is now at $16.77MM, saving the team nearly $10MM. One void year is now on this two-year, $45MM extension.
- Adam La Rose’s Packers Offseason Outlook noted Aaron Banks carried the third-largest cap hit on the roster ($24.79MM). That is now down to $12MM. The $12MM-plus in savings come from the team converting most of the guard’s salary into a signing bonus, Wilson adds. Two void years have also been added to Banks’ four-year, $77MM contract.
- Beyond the Michael Pittman Jr. salary dump and Daniel Jones‘ extension to move off the transition tag, the Colts created cap space by restructuring left tackle Bernhard Raimann‘s deal. Indianapolis dropped Raimann’s base salary to $2MM, moving his cap number from $17.51MM to $9.26MM. This $8MM-plus in savings will lead to two $2MM roster bonuses being inserted into the deal (in 2028 and ’29), Wilson adds. The adjustment also balloons the LT’s 2027 cap number to $30.61MM.
- Derrick Brown carried the top Panthers cap hit entering March ($24.5MM), but Wilson adds it has been reduced to $10.95MM via a restructure. The Panthers saved nearly $14MM in cap space here on a contract that runs through the 2028 season. The cost-saving move does inflate Brown’s two future Carolina cap numbers past $31MM, however.
Ravens To Sign DE Trey Hendrickson
Making the decision to wave off the Maxx Crosby trade Tuesday, the Ravens will add the best edge rusher left available. Trey Hendrickson is signing with the team, NFL.com’s Ian Rapoport and Tom Pelissero report.
Hendrickson agreed to a four-year, $112MM deal with Baltimore, ESPN’s Adam Schefter reports. That contract comes in south of where Crosby’s resides on the Raiders’ payroll. Hendrickson agreed to a contract that includes $60MM guaranteed at signing, Schefter adds. That will bring the 10th-year veteran pass rusher guarantees beyond Year 1 — something he targeted during his yearslong Bengals negotiating saga.
[RELATED: Raiders Prepared To Keep Crosby; Latest On Trade Breakdown]
Incentives can take the two-year total to $64MM, Rapoport tweets, with Schefter adding eight-, 10- and 12-sack benchmarks are in place. A $500K incentive covers Hendrickson in sacks, meaning most of this deal goes to base value. The $60MM full guarantee ranks in the top 10 at the position, though it is not yet known where Jaelan Phillips and Odafe Oweh ended up in terms of locked-in money.
The Crosby fallout may have benefited Hendrickson. Most teams viewed the 31-year-old All-Pro EDGE as being set to land a deal in the $24-$25MM-per-year range, per The Athletic’s Dianna Russini. SI.com’s Albert Breer indicates $25-$27MM represented the range, helping explain why Hendrickson lingered in free agency. As of Tuesday, roughly a $10MM gap existed between Hendrickson’s camp and teams’ early offers.
As CBS Sports’ Jonathan Jones notes, Crosby has about four years and $116MM left on his Raiders contract. The Ravens will shift to a free agent and retain their first-round picks, something the California Post’ Vincent Bonsignore notes does not appear to be going over well in some league circles. The Ravens stayed in touch with Hendrickson’s camp Tuesday, Russini adds, noting most in the building knew the ex-Bengal was set to join the team.
The Colts and Eagles are also believed to have made offers, Russini adds. An Indianapolis agreement would have reunited Hendrickson and Lou Anarumo, while Philly is still searching for a replacement for Jaelan Phillips. While those two clubs missed out, the Ravens have completed a shocking turn of events, ruffling feathers in the process.
The Bills, Buccaneers and Commanders were also involved in the Hendrickson derby, ESPN’s Jeremy Fowler adds. Philly’s involvement here is classified as a late entrance, per Fowler, who adds the Colts believed they were close. The Bucs were offering a short-term deal. Hendrickson was connected to interest in joining the Bucs, as he is an Orlando native who played college ball at Florida Atlantic.
The Bills were also involved in a Crosby trade pursuit, while the Commanders pivoted to K’Lavon Chaisson shortly before the Hendrickson-Baltimore news emerged. Washington was in this market until the end, per ESPN.com’s John Keim, explaining the Chaisson deal’s timing.
It is worth wondering when the Ravens began discussing Hendrickson. Trades are not official until the start of the new league year (3pm CT today). It can be assumed Baltimore was all-in on Crosby, but Russini adds the team was familiar with the Raiders edge rusher’s rehab timeline. Crosby is recovering from meniscus surgery, a monthslong process that is not expected to affect his Week 1 availability, and some around the league view this as simply the Ravens getting cold feet on unloading two first-round picks. Hendrickson is nearly two years older than Crosby, but not costing two first-rounders is rather significant.
The Hendrickson market looked to see a mystery team emerge Tuesday afternoon, per NFL.com’s Mike Garafolo, who indicates teams became leery of this stealth suitor. That is widely believed to be the Ravens, who knew hours before the Raiders’ social media announcement they would be nixing the Crosby trade.
While this sets a bad precedent, such options are available to teams under a setup in which deals can be agreed to weeks in advance — as the 2021 Jared Goff–Matthew Stafford trade reminds — of the new league year before becoming official. The unraveling of the Ravens-Raiders’ Crosby trade took hours, Garafolo adds. Hendrickson came into the picture for the AFC North team at that point.
PFR’s No. 4-ranked free agent, Hendrickson scores a deal that lands between Phillips (our No. 3 FA) and Oweh in terms of AAV. His $28MM number is much better than where he was during most of his Cincinnati tenure. Hendrickson had signed a four-year, $60MM Bengals deal in 2021 before agreeing to a one-year, $21MM extension in 2023.
Hendrickson pursued an extension for years in Cincinnati, but the Bengals stood their ground and refused to offer post-Year 1 guarantees — an organizational precedent except in rare cases (Joe Burrow, Ja’Marr Chase) — during last year’s standoff. A one-year, $29MM pact ended up being the late-summer resolution. The Bengals offered their top pass rusher a backloaded three-year, $95MM deal; he passed, leading to the August raise. The Bengals were linked to a 2026 Hendrickson franchise tag, but it would have come in well north of $30MM. Cincy passed and will move on, having agreed to sign Boye Mafe.
While Crosby probably has more long-term upside, Hendrickson put together a dominant run in the 2020s. The Bengals sack ace finished back-to-back seasons with 17.5 sacks and has two more campaigns (2020, 2021) with at least 13. After a belated breakthrough in a contract year (2020) with the Saints, Hendrickson helped the Bengals to Super Bowl LVI in his debut Ohio season. Hendrickson recorded at least 24 QB hits from 2020-24, topping out at 36 in managing to finish as Defensive Player of the Year runner-up on a bad 2024 Cincinnati defense.
Last year, hip trouble ended up shutting Hendrickson down after five games. The four-time Pro Bowler underwent core muscle surgery in December. That adds a layer to this edge rusher switcheroo, though the Ravens obviously do not expect Hendrickson to be delayed in coming back in time for the regular season. Wherever Crosby plays in 2026, he is expected to be on the field in Week 1 as well.
Never trading a future first-round pick for a veteran player in their 30-year history, the Ravens also have not been big spenders at the EDGE position since Terrell Suggs‘ Baltimore run ended. The team franchise-tagged Matt Judon but did not re-sign him, moving to Oweh’s rookie deal and a host of veteran stopgaps. This strategy, which included an Oweh trade midway through last season, led to Baltimore ranking 30th in sacks last season. The team will bet on Hendrickson recapturing his pre-injury form, while we wait to see where Crosby will end up.