Broncos Acquire WR Jaylen Waddle From Dolphins
MARCH 18: Following the Maxx Crosby drama, fans of both teams were anxious for Waddle to complete his physical to formally complete the trade. The deal was formally announced on Wednesday by both teams, indicating that Waddle passed his physical in Denver and is now officially a member of the Broncos.
MARCH 17: The Broncos’ first outside addition of the new league year is certainly a notable one. Jaylen Waddle is heading to Denver. 
The Dolphins have worked out a trade to send Waddle to the Broncos, as first reported by Tom Pelissero and Ian Rapoport of NFL Network. Multiple picks in the 2026 draft will be exchanged as part of the deal, as detailed by ESPN’s Adam Schefter. Meanwhile, Barry Jackson of the Miami Herald notes Denver will take on the remainder of Waddle’s contract in full, including his 2026 base salary ($1.22MM).
Here is the full breakdown of the trade terms:
Broncos acquire:
- Waddle
- Miami’s fourth-round pick (No. 111)
Dolphins acquire:
- Denver’s first-round pick (No. 30)
- Broncos’ own third- and fourth-rounders (Nos. 94 and 130)
Until today, the Broncos had focused on retaining as many of their own players as possible. The AFC’s top seed in 2025 still had a vacancy with respect to pass-catching options, however. Denver was linked yesterday to interest in the tight end market, with Evan Engram disappointing during his debut Broncos campaign. Regardless of what happens on that front, a high-profile receiving option is set to be in place for next season with GM George Paton taking a major swing early in the new league year. A physical is scheduled for tomorrow, per Schefter’s colleague Jeff Darlington.
The Dolphins dismissed general manager Chris Grier shortly before the 2025 trade deadline. That led to an increased expectation with respect to the team’s willingness to move on from players. Waddle, 27, generated considerable interest, and the Broncos were one of many teams which made calls. In the end, no suitors were willing to meet the Dolphins’ asking price of a first-rounder and more.
With new GM Jon-Eric Sullivan and head coach Jeff Hafley arriving, the Dolphins have begun a full-blown rebuild. Several veterans have been released recently in cost-shedding moves and to clear roster spots for younger replacements. That includes not only quarterback Tua Tagovailoa and edge rusher Bradley Chubb – both of whom quickly found new homes in free agency – but also receiver Tyreek Hill. It came as no surprise when Hill was cut, a move which seemed to put Waddle in position to operate as the Dolphins’ top wideout in 2026 and beyond.
Indeed, a report from last month named the former first-rounder along with lead running back De’Von Achane as core pieces the new regime was not looking to part with. Things have certainly changed in short order with a suitor willing to pay a premium for Waddle. Three years remain on his contract, a lucrative extension signed in 2024. Given the guarantees present in the pact, this swap will carry even more unwanted financial implications for Miami during an offseason full of major cap-related moves.
Waddle is owed an option bonus worth $6.06MM on Friday as part of his $17.24MM in overall compensation. That helps explain the timing of this trade, one which will see the Alabama product paired with Courtland Sutton, Marvin Mims and Troy Franklin. Sutton’s pact runs through 2029, while Mims and Franklin – just like quarterback Bo Nix – are attached to their rookie contracts. Coming off the back of a second straight playoff appearance, Denver is aggressively pursuing an upgrade in the passing game.
Miami, meanwhile, will add yet another premium pick for 2026. Once the Waddle move is official, the Dolphins will own a pair of Day 1 selections and a total of seven picks across the first three rounds. Several roster holes will need to be filled next month, and receiver will no doubt be high on the priority list. With Hill and now Waddle out of the picture, Miami’s WR depth chart is currently topped by the likes of Malik Washington and recent additions Tutu Atwell and Jalen Tolbert.
Putting together a cost-effective supporting cast around new quarterback Malik Willis will increasingly be the goal for Miami this offseason. This trade highlights to an even larger extent the long-term nature of the team’s rebuild. As the Broncos look to maximize their window with Nix on an affordable contract, bringing in a three-time 1,000-yard producer will generate increased expectations on offense.
Jets To Trade QB Justin Fields To Chiefs
As expected, Justin Fields‘ time in New York is coming to an end. A trade has been worked out which will send him from the Jets to the Chiefs, as first reported by ESPN’s Adam Schefter. 
This trade will include a late-round pick swap. The Jets are dealing Fields and a seventh-round pick to the Chiefs in exchange for a sixth-round pick, Ian Rapoport of NFL Network notes. The sixth-rounder is in the 2027 draft, per colleague Tom Pelissero.
New York is retaining salary to facilitate this deal, SNY’s Connor Hughes reports. Per Pelissero, the Jets are taking on $7MM of the $10MM Fields was already guaranteed for the 2026 season. That will make him a cost-effective backup for the Chiefs, a team in need of insurance under center. Patrick Mahomes continues to recover from an ACL tear, leaving his Week 1 availability in question.
Gardner Minshew was in place as Kansas City’s backup, but he departed last week by agreeing to a free agent deal with the Cardinals. Fields will now be able to handle first-team reps through the offseason while Mahomes recovers. Other teams were interested in the former Bear and Steeler, per Schefter. He adds, however, that Fields’ preference was to join the Chiefs. With an immediate path to practice time in place with respect to Kansas City, that comes as no surprise.
For the Jets, a Fields departure was made even more likely once a reunion with Geno Smith was worked out. New York traded for Smith last week, and his contract was also reworked as part of the deal. The Jets will only be responsible for $3.3MM of Smith’s compensation for 2026. Paying out a larger figure has allowed for a parting of ways in Fields’ case, something which seemed inevitable once his brief tenure atop the depth chart came to an end.
The former first-rounder secured $30MM guaranteed on a two-year free agent deal last spring. Fields served as New York’s starter for nine contests, averaging less than 140 passing yards per game with a career-low 6.2 yards per attempt average. He managed 383 rushing yards and four scores on the ground, but Fields and the Jets’ passing game was the subject of public criticism from owner Woody Johnson before head coach Aaron Glenn decided to bench him. Tyrod Taylor and Brady Cook saw time afterwards; Taylor is unsigned but Cook and Bailey Zappe are still in place for the Jets.
The cap savings ($11MM) and dead money charges ($12MM) generated by this trade are essentially a wash for New York. Kansas City, meanwhile, entered Monday with roughly $10MM in cap space – nowhere near as much as the Jets. Taking on Fields at a highly reduced rate will be key for the Chiefs as they sort out their QB depth chart. Fields will join Mahomes, Chris Oladokun and Jake Haener as signal-callers in Kansas City. The Ohio State product has expressed confidence he can still operate as a starter, and the opportunity to do so on a short-term basis may present itself in 2026.
Falcons Sign QB Tua Tagovailoa
MARCH 13: Like Russell Wilson in 2024 and Kyler Murray on Thursday, Tagovailoa agreed to a veteran-minimum contract following a high-profile release. The former Dolphins starter, who will compete with Penix for the Falcons’ QB1 gig, will do so for barely $1MM, CBS Sports’ Jonathan Jones confirms. This will cut into Miami’s historic dead money bill, but not by much.
Exercising Tagovailoa’s 2026 option bonus before his release (per the Miami Herald’s Barry Jackson), the Dolphins will be tied to a $55.4MM dead money hit this year. That breaks Wilson’s single-season record ($53MM). Tagovailoa will count $43.8MM against Miami’s 2027 cap.
MARCH 9: The Dolphins are planning to release Tua Tagovailoa, and just a few hours later, he has found a new team. The 28-year-old quarterback will be moving one state north to join the Falcons, according to ESPN’s Adam Schefter.
As expected, Tagovailoa will receive a one-year, veteran-minimum deal in Atlanta, per CBS Sports’ Jonathan Jones, as Miami is still paying him $54MM this season. He will join fellow lefty Michael Penix Jr. in a Falcons quarterback room that will likely soon lose Kirk Cousins.
In fact, Tagovailoa projects as the team’s bridge starter as Penix works his way back from knee surgery, filling a role that could have kept Cousins in Atlanta. Instead, the veteran should now get the opportunity to pick a new team that he did not receive last offseason.
Considering Tagovailoa’s drastic fall since his 2023 Pro Bowl nod, Atlanta is a fine landing spot for the former first-round pick. The Falcons have been non-committal on Penix’s status as their franchise QB, and his injury will give Tagovailoa an opportunity to rebuild his stock surrounded by a strong supporting cast.
The Falcons have a solid offensive line and exciting young skill position players like Drake London, Bijan Robinson, and Kyle Pitts. But Tagovailoa’s struggles over the past two seasons will still give him an uphill battle in convincing Atlanta’s new leadership that he, not Penix, is the quarterback to steward the team’s offense into the future.
Finding no trade takers, the Dolphins will designate Tagovailoa as a post-June 1 cut Wednesday. That comes as little surprise, as it will allow Miami to spread out the record-breaking $99.2MM dead money charge in this case over two years. Thanks to Tagovailoa’s guarantees on his contract, he could account for $67MM a dead cap charges in 2026 as the Dolphins move forward with their full-scale roster reset.
Benched before Week 16 last season, Tagovailoa would welcome a fresh start. His four-year, $212.4MM extension — which included a $54MM 2026 option bonus that shifted from an injury guarantee to a full guarantee in March 2025 — backfired quickly. Still, Tagovailoa played well for much of the 2022 and ’23 campaigns.
Tua, 28 in May, led the league in yards per attempt and passer rating in 2022, passing yards in 2023 and completion percentage in 2024. Concussion concerns resurfaced in 2024, and Tagovailoa missed six games that year. His 2025 season continued a downward trajectory. But at the veteran minimum, the Falcons will take a flier.
If Tagovailoa were to make that a serious consideration later this year, it would create a fascinating dynamic in Atlanta. The Falcons surprised many by selecting Penix with the No. 8 pick in the 2024 draft weeks after signing Cousins to a four-year, $160MM deal with $90MM guaranteed. Cousins started the regular season strong, but struggled with turnovers down the stretch and was replaced by Penix. He went into 2025 as the unquestioned starter with Cousins trying to force his way out of Atlanta. But Penix did not inspire much confidence himself before partially tearing his ACL, leaving the Falcons in a tricky spot this offseason.
Normally, a quarterback’s third season (second as a starter) is a good litmus test for their long-term capabilities. But Penix will not get that type of opportunity, as he is expected to miss offseason practices as the team transitions to Kevin Stefanski‘s coaching staff. Instead, Tagovailoa will have the first opportunity to impress the new regime on the field.
Titans To Release CB L’Jarius Sneed
The Titans are releasing L’Jarius Sneed, per ESPN’s Adam Schefter, making him a late addition to the cornerback market in free agency.
Sneed, 29, arrived in Tennessee in a tag-and-trade deal with the Chiefs during the 2024 offseason. The Titans sent a third-round pick to Kansas City and handed the veteran corner a four-year, $76.4MM contract with $44MM guaranteed.
He only played 12 games on that deal due to quad injuries in both 2024 and 2025. When healthy, Sneed’s performance dipped notably with career-worst marks in several categories, including his ball production, tackling, and yards per target allowed. His grades from Pro Football Focus (subscription required) plummeted relative to his time in Kansas City, too.
The Titans certainly hoped to get more out of Sneed, especially since the third-round pick they sent to Kansas City turned out to be the second in the round. Instead, they will release him with two years remaining on his contract to save $11.4MM against the 2026 salary cap, per OverTheCap. The remaining prorations of Sneed’s signing bonus will leave an $8.1MM dead cap hit.
Tennessee used several different cornerbacks in the last two years and seem to be rebuilding the unit entirely under new head coach Robert Saleh. He declined to retain Darrell Baker, who led the corner room in snaps in 2025, and instead signed Cordale Flott, Alontae Taylor, and Joshua Williams, all young potential starters that will give the Titans plenty of options in their secondary.
Vikings To Sign QB Kyler Murray
As expected, Kyler Murray is heading to Minnesota. The quarterback is inking a one-year deal with the Vikings, according to NFL Network’s Tom Pelissero.
The 28-year-old Murray was always destined to make $36.8MM in 2026 by virtue of his release from the Cardinals, and the Vikings are indeed only paying their acquisition a minimum salary. Notably, the team did include a no-tag clause in Murray’s deal, meaning he’ll hit unrestricted free agency once again next year.
While one report stated Murray could exercise patience in finding a new home, he will head elsewhere just one day after the Cardinals made his long-awaited release official. The Vikings immediately became the frontrunners to sign Murray, the former No. 1 pick who fell out of favor in Arizona after seven seasons.
The Cardinals’ attempts to trade Murray proved futile, leading the team to cut him and take on $54.3MM in dead money. They will reportedly incur a $47.1MM dead cap charge in 2026 and a much more manageable $7.2MM hit in ’27.
A former Heisman Trophy winner at Oklahoma, the 5-foot-10, 207-pound Murray’s NFL career got off to an auspicious start. Murray took home Offensive Rookie of the Year honors in 2019 before earning back-to-back original-ballot Pro Bowl nods from 2020-21. The Cardinals won 11 games to break a five-year playoff drought in Murray’s third season, but the Rams crushed them in the wild-card round. Thanks in part to injuries, Murray’s career has trended downward since the Cardinals awarded him a five-year, $230MM extension in July 2022.
A torn ACL in late 2022 cost Murray six games that year, and the recovery process held him out of the Cardinals’ first nine contests the next season. After Murray shook off the rust during his late-2023 return, he showed some encouraging signs in 2024. In the only 17-game season of his career, Murray completed 68.8% of passes for 3,851 yards (7.1 per attempt), 21 touchdowns, 11 interceptions, a 93.5 passer rating and a career-best 63.4 QBR. As a runner, Murray amassed 572 yards on 7.3 per carry and chipped in another five TDs.
Murray was unable to build on the momentum in 2025, yet another injury-shortened season. A mid-foot sprain limited Murray to just five games. He did not take the field beyond Oct. 5.
Like Murray, injuries have been a problem for Vikings quarterback J.J. McCarthy. The 2024 first-round pick from Michigan missed his rookie season with a torn meniscus, leading veteran Sam Darnold to fill in for the entire year. Darnold revived his career during a 14-3 season, but the Vikings let him walk in free agency.
Darnold, now a reigning Super Bowl champion, signed a three-year, $100.5MM pact with the Seahawks. Daniel Jones, a former Giants starter, finished 2024 as Darnold’s backup in Minnesota. While the Vikings tried to re-sign Jones, he took the Colts’ offer instead because he saw a clearer path to playing time. Jones went on to enjoy a career resurgence in 2025, leading the Colts to re-sign him to a two-year, $88MM contract this week. The Vikings were interested in reuniting with Jones before the Colts placed the transition tag on the 28-year-old and then extended him.
Minnesota’s pursuit of veteran signal-callers came in response to a rough first year as a starter for McCarthy. Three different injuries – a high ankle sprain, a concussion and a hairline fracture in his right hand – held McCarthy to 10 games. The 9-8 Vikings managed six wins in McCarthy’s 10 starts, but he threw more interceptions (12) than touchdowns (11). McCarthy also completed just 57.6% of passes while ranking near the bottom in the league in traditional passer rating (72.6) and QBR (35.7).
Kwesi Adofo-Mensah, the general manager who drafted McCarthy, lost his job in January. Before his ouster, he and head coach Kevin O’Connell made it known they would at least seek veteran competition for McCarthy this offseason. The offensive-minded O’Connell now has it in Murray, who will aim to follow in Darnold’s footsteps in Minnesota. If Murray beats out McCarthy and reestablishes himself as a legitimate starter in 2026, he could position himself for another lucrative deal a year from now.
Ben Levine contributed to this post.
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.
Colts, QB Daniel Jones Agree To Deal
The Colts will move Daniel Jones‘ transition tag off the books. The sides are in agreement on a two-year, $88MM extension, NFL insider Jordan Schultz reports.
It is the largest two-year contract in NFL history, Schultz adds, noting the deal could balloon to $100MM via incentives. The contract includes $50MM fully guaranteed and another $10MM guaranteed for injury, ESPN’s Adam Schefter reports.
The $50MM fully guaranteed far exceeds where the Seahawks went for Sam Darnold last year or where the Buccaneers closed with Baker Mayfield in 2024. The transition tag and a few recent Colts developments brought strong leverage for Jones, as he secured more guaranteed than either more accomplished QB despite only agreeing to a two-year deal.
We heard earlier today the Colts and Jones were moving toward a two-year contract. This is another monster deal for Jones, who played last season on a one-year, $14MM pact. Three years after Jones scored a win — via a four-year, $160MM deal — with the Giants, he cashes in after an injury-shortened Colts campaign.
In moving Jones’ $37.83MM transition tag off the books before the start of the 2026 league year (3pm CT today), the Colts will save considerable cap room. Jones will score a huge raise from his 2025 pay, and the two-year term length will allow for another prime-years bite at the apple — should Jones sustain his form this time around. The former No. 6 overall pick famously did not do so on his $40MM-AAV Giants accord, which Big Blue jettisoned during the second year of the contract.
The soon-to-be 29-year-old quarterback will see $50MM in Year 1, according to NFL.com’s Ian Rapoport. Jones had targeted a deal in the $50MM-per-year range; that ask was out of step with what the Colts desired. Indianapolis’ first offer was believed to come in near the Darnold range (three years, $100.5MM). But Jones, as he did with the Giants in 2023, again stood in commanding leverage position thanks to Indy trading two first-round picks for Sauce Gardner. The Colts had made no secret of their interest in re-signing Jones, and another player-friendly accord will emerge for the inconsistent QB as a result.
Each game the Colts win will result in a $500K bump for Jones, so long as he plays at least 50% of the team’s offensive snaps (per Rapoport). Notably, $10MM of Jones’ 2027 salary is guaranteed. That represents the injury guarantee, with Pro Football Talk’s Mike Florio noting that amount vests in March 2027. Jones received two fully guaranteed years from the Giants, but it took a four-year commitment to secure those terms. That March 2027 date gives the Colts a potential out in case Jones flops on a big-ticket deal again. Indy can escape the contract before that guarantee vests.
Jones certainly would have been the top free agent available, value-wise (an area where the QB has specialized), but the Colts were far apart on terms and did not leave it to chance by transition-tagging him. No team had unholstered a transition tag on a quarterback since 1996, with ex-Colts first-rounder Jeff George being cuffed by the Falcons. That relationship combusted months later, with Atlanta cutting the ex-Indianapolis bust after three games. The Colts will be hoping Jones can stop their QB carousel, one that helped strengthen the eighth-year veteran’s leverage.
The Colts have used eight different Week 1 starting quarterbacks over the past nine seasons. The carousel has defined Chris Ballard‘s GM tenure. Owner Carlie Irsay-Gordon brought back both Ballard and Shane Steichen for a fourth season, largely giving them a mulligan for Jones’ injury-shortened 2025 slate. While Jones was playing well in guiding the Colts to an 8-2 start, he now has a checkered medical sheet. Jones has missed time due to ACL and Achilles tears, along with multiple bouts of neck trouble. Before sustaining the Achilles tear last season, Jones was playing through a fractured fibula.
Jones’ struggles on his lucrative Giants deal moved Brian Daboll and GM Joe Schoen to the hot seat in New York, and while the QB has a chance to prolong Ballard and Steichen’s Indy tenures, their futures likely ride on this contract working out. Having Jones at $14MM represented a good value play for the Colts. With Alec Pierce now at $29MM per year and Jones on another player-friendly deal, will Indy be able to sustain its first-half form from last season?
The Duke product averaged more than eight yards per attempt for the first time last season, finishing at 8.1 with a career-best 68% completion rate. Jones posted a 19:8 TD-INT ratio and ranked eighth in QBR. The Colts were on a torrid pace, but they could not sustain it. The team going 8-4 with Jones available and 0-5 without him — though, Philip Rivers’ comeback was among the most memorable re-emergences in modern sports history — brought another negotiating point for the QB’s camp. The Vikings, who have not landed on their veteran QB option to compete with J.J. McCarthy, were also believed to be monitoring this situation.
Jones had turned down Minnesota despite receiving a better offer last year, correctly determining he had a better chance for a starting job in Indianapolis. While Anthony Richardson is still a Colt, he has been given permission to find a trade partner. Jones’ deal effectively ensures the former No. 4 overall pick will not be back.
Expected to be back for Week 1 after another round of rehab, Jones will not have Michael Pittman Jr. to target any longer. The Colts traded their $24MM-per-year receiver to the Steelers in a salary-dump move, as they now have Pierce on a WR1 deal. The team also traded Adonai Mitchell in the Gardner swap, leaving Pierce, Josh Downs and Tyler Warren as Jones’ top 2026 targets — as of now. The team also lost right tackle Braden Smith in free agency, though four O-line starters are returning to help Jones and All-Pro running back Jonathan Taylor.
Averaging 5.7 and 6.1 yards per attempt during the two seasons on his second Giants contract, Jones will face considerable pressure to stick the landing this time. Though, his Kirk Cousins-like negotiating savviness has removed any incentive on the financial side. Still, Jones playing well in Indy will position him for a lucrative extension or a 2028 free agency foray. The Colts will hope this pricey contract can bring an end to the post-Andrew Luck period of QB instability.
49ers Acquire DT Osa Odighizuwa From Cowboys
Osa Odighizuwa will be on the move after all. A trade has been agreed to which will send the veteran defensive tackle from the Cowboys to the 49ers, NFL insider Jordan Schultz reports. The deal is now official.
San Francisco will send Dallas a third-round pick, Ian Rapoport of NFL Network adds. As such, the Cowboys will add the No. 92 selection in April’s draft. The team did not own a second- or third-rounder in 2026 prior to this agreement.
[RELATED: Cowboys Trade DL Solomon Thomas To Titans]
A report from Tuesday indicated teams were showing trade interest in Odighizuwa. Dallas already has Kenny Clark and Quinnen Williams on the books. The Cowboys also lined up a deal with free agent Otito Ogbonnia, adding further to their depth at the defensive tackle spot. Inquirers from the Bengals did not yield traction, but Dallas clearly remained open to moving forward with a swap in this case. The team will create $4.75MM in cap space while generating $16MM in dead money.
The Cowboys will clear Odighizuwa’s $16.25MM salary in 2026 as a result of this trade. The 49ers, meanwhile, will take on the remainder of his contract; the pact runs through 2028. Odighizuwa inked a four-year, $80MM deal last offseason, but the arrivals of Clark and Williams threatened to cut into his playing time. A heavy workload will await him in the Bay Area, while Dallas will not face the challenge of maintaining three DTs attached to large contracts.
As Schultz confirms, the 49ers were among the runners-up for free agent John Franklin-Myers. The former Bronco wound up agreeing to a lucrative deal with the Titans. San Francisco has pivoted in short order. In addition to wideout Mike Evans, this constitutes certainly a significant addition on the part of general manager John Lynch early in the new league year.
Jordan Elliott lined up an agreement with Tennessee during the early stages of free agency, thinning out the 49ers’ defensive line. Odighizuwa will help serve as a replacement, and he will be counted on to remain a strong contributor against the pass in particular on his new team. The 27-year-old has recorded between 3.0 and 4.5 sacks each season since his rookie campaign. He totaled 64 QB pressures over the past two years, and disruption on that level would be welcomed in San Francisco.
The injury-ravaged 49ers ranked last in the NFL in sacks this past season. A healthy year from Nick Bosa and others would of course go a long way in helping the team bounce back in that regard. Nevertheless, Odighizuwa’s arrival should provide a pass rush boost along the interior for 2026 and beyond.
Ravens Nix Trade For Raiders OLB Maxx Crosby
Trades cannot be official until the 2026 league year begins Wednesday, and the Raiders dropped a bombshell about their recent blockbuster. The Maxx Crosby deal is off, according to the Raiders.
The Raiders said in a statement the Ravens have backed out of the trade. Baltimore was to send two first-round picks to Las Vegas for the All-Pro edge rusher. Crosby had expressed excitement about being traded to the Ravens, but per the AFC West franchise, the deal is off.
“The Baltimore Ravens have backed out of our trade agreement for Maxx Crosby. We will have no further comment at this time,” the Las Vegas statement reads.
All trades are pending physicals, and Crosby is recovering from much-publicized knee surgery. Crosby failed his Ravens physical today at the team facility, The Athletic’s Dianna Russini reports. A month ago a report surfaced indicating Crosby underwent a full meniscus repair, rather than a trim. The eighth-year edge rusher’s recovery is expected to be measured in months, not weeks. The Ravens undoubtedly knew this, but upon examining Crosby, it appears we have one of the highest-profile instances of cold feet in NFL history.
The Ravens were to send their No. 14 overall pick and their 2027 first for the disgruntled Crosby, who is on a through-2029 contract. However, everything looks to be up in the air. Based on the Raiders releasing a statement, it would be rather unusual if the sides put the trade back on course.
Crosby, 28, never officially requested a trade but it had become well known he wanted to be dealt to a contending team. And SI.com’s Albert Breer reports Crosby did request a move privately. Crosby voiced frustration — to put it mildly — at the Raiders shutting him down with a knee injury he believed he could play through. Reports of Crosby evaluating his future escalated into full-blown trade rumors. The Raiders were believed to be setting too high a price, — as a desire for a Micah Parsons-like haul surfaced at multiple points — but a bidding war took place around the Combine.
The Cowboys were believed to be prepared to send the Raiders a first-round pick and a second, but the Ravens won the derby — as of Friday night, at least — with a two-first-rounder proposal. The Jaguars joined the Bears as other teams in the mix. The Bengals and Eagles looked to tip their toes in the water here, per Breer, though it does not appear either was too near the front of the line. The Bills were interested as well, Breer adds, but the Raiders did not deem their first-round pick being valuable enough to be the centerpiece of a trade package.
It does not look like the Bears were a frontline suitor, per ESPN.com’s Jeremy Fowler, but the Cowboys were believed to be willing to include a player in a trade along with the first- and second-round picks. Dallas is now sounding open to trading D-tackle Osa Odighizuwa, after trading for both Quinnen Williams and Kenny Clark following that March 2025 re-signing, but Fowler adds the Cowboys set limits — based on its Williams trade package — about how far they would go for this particular player.
In Crosby’s stealth trade request, Breer indicates he expressed a desire to work with the Raiders for the team to obtain the best possible deal from a contender. That is perhaps why no official trade request became public. The Raiders retained some leverage this way, even though the tea leaves pointed to a move transpiring. The Seahawks and Patriots loomed as suitors as well, though a source told Fowler minority owner Tom Brady is not expected to entertain a deal with the Patriots.
This also puts the Raiders in a tighter spot. Although the team carried an NFL-leading cap-space figure into free agency, that was contingent on Crosby’s 2026 cap number being off the books. The Raiders have run wild in free agency, adding several starters — most notably with a record-smashing accord for Ravens Pro Bowl center Tyler Linderbaum — to prepare for the arrival of Fernando Mendoza‘s rookie deal. Las Vegas was to hold the No. 14 pick to supplement its incoming quarterback as well. Now, a fascinating pivot will need to take place.
The Raiders also added Kwity Paye, Quay Walker, Nakobe Dean and Jalen Nailor on Monday. None of these moves can be announced until the new league year begins at 3pm CT Wednesday. This waiting period usually is a nonfactor, as players almost always follow through on their commitments. But failed physicals are certainly nothing new. This one will go down in trade infamy, though, due to the two-first-rounder return the Raiders were to receive.
Even with this shocking turn of events technically placing Crosby’s 2026 cap number back on the Raiders’ payroll, it is unlikely the team would bail on its Day 1 FA deals. The Raiders will seemingly proceed to another team here. Though, it is quite possible a 2027 first-rounder will not be attainable.
Another team could pass Crosby on a physical, but he is going into an age-29 season. That has long made it iffy in terms of a two-first-rounder haul, as Parsons and Khalil Mack were respectively swapped at 26 and 27. That said, both those All-Pros required new contracts. Crosby was set to play on his 2025 Raiders extension, helping the Raiders secure their desired trade return.
Crosby viewed the Raiders as sitting him in order to secure the No. 1 pick, and Breer adds that while a meeting with Klint Kubiak went well, it did not move the needle with regard to the impact edge rusher wanting to stay. GM John Spytek said at the Combine the Raiders planned on retaining Crosby, but it is not exactly stunning to see such an about-face occur based on Combine pressers. And a report soon after had the Raiders warming to a trade.
The Raiders also did a deal with a team that, as our Ely Allen pointed out, had never traded a future first-round pick for a player in its 30-year history. The Ravens also are not usually big spenders at edge rusher, having mostly used low-cost vets and first-rounder Odafe Oweh since Matt Judon‘s 2021 departure.
Considering what a typically risk-averse franchise was giving up, trepidation regarding Crosby’s knee rehab makes sense. Still, the Raiders needing to go back to the drawing board four days after reaching the trade agreement represents one of the crazier developments in modern NFL history. The Ravens backed out of a deal with wide receiver Ryan Grant in 2018 and, as ESPN’s Adam Schefter points out, a contract with safety Brock Marion was nixed on Baltimore’s end in 1997.
While Terrell Owens did not fail a physical back in 2004 — when an arbitrator called off a Baltimore-San Francisco trade, leading the future Hall of Fame receiver to Philadelphia — this Crosby non-trade will remind of that near-miss. Observing where a second Crosby trade market goes, and how Baltimore fills its EDGE need (after ranking 30th in the NFL in sacks last season), will be must-follow storylines for NFL fans moving forward.
Raiders Trade QB Geno Smith To Jets
Geno Smith is heading back to where his career began. The Raiders have worked out a trade which will send the veteran quarterback to the Jets, as first reported by ESPN’s Adam Schefter. The deal is now official.
Vegas will send Smith and a seventh-round pick in this year’s draft to New York for a sixth-round selection this year, Schefter adds. The Raiders, meanwhile, are retaining most of Smith’s base salary for 2026, according to NFL Network’s Tom Pelissero. The Jets will pay him near the league minimum as a result, with Schefter adding a restructure was agreed to prior to the trade.
Per Albert Breer of Sports Illustrated, Vegas will be on the hook for $16.5MM with New York taking on $3.3MM. Smith will thus receive a $1MM raise compared to the guaranteed figure he was owed prior to this swap as a result.
Smith’s Raiders tenure was known to be ending after just one season with the team preparing to draft Fernando Mendoza first overall in April. Vegas was willing to release the 35-year-old in the event no trade suitors could be found. Instead of Smith becoming a free agent tomorrow, he will begin a second stint with the Jets.
The former second-rounder is at the Jets’ facility, Dianna Russini of The Athletic notes Smith has already conducted a physical, paving the way for this swap to be made official. One major move at the quarterback position has now been taken care of for New York, although more changes will be coming. One year remains on Justin Fields‘ contract, but he is not expected to be back with the team in 2026. Tyrod Taylor is a pending free agent.
Smith began his career as a Jets draftee, and he spent four seasons with the team. That included a two-year run (2013-14) as New York’s starter, a stint which did not go as planned to say the least. A lengthy spell without another QB1 opportunity came to an end when Smith took over starting duties for Seattle following the Russell Wilson trade.
Smith spent three years atop the Seahawks’ depth chart, earning Comeback Player of the Year honors in 2022. That season included a league-leading 69.8 completion percentage and a career-high 30 touchdown passes. Smith secured a second straight Pro Bowl nod the following year, but the arrival of new head coach Mike Macdonald in 2024 did not result in a long-term Seattle deal being worked out. Instead, the Seahawks targeted Sam Darnold last offseason and traded Smith to Vegas, allowing him to reunite with Pete Carroll.
After a disastrous season together, Carroll and Smith are now out of the fold. The latter will look to rebuild his value in a familiar setting, although he does not have experience playing under Jets head coach Aaron Glenn or offensive coordinator Frank Reich. A quick acclimation period would of course be welcomed by all involved, with Glenn no doubt under pressure to guide New York to more success in Year 2 than the team had during his debut on the sidelines. The Vikings were mentioned as a potential Smith suitor, and NFL insider Jordan Schultz confirms there was “real interest” on the part of Minnesota. The team’s list of free agent targets has now been thinned out, however.
Reich has a history with Carson Wentz, and a reunion between those two has been mentioned as something to watch for. In general, it will be interesting to see if the Jets add another veteran passer in free agency with Smith now in the fold. Meanwhile, the Raiders could be in the market for an experienced option as insurance for Mendoza’s rookie campaign.
Improved play on offense will be key in 2026 for the Jets, a team which made a number of defensive splashes yesterday. It will be interesting to see how Smith fares in his New York return and what kind of QB room he will be in by the time the season begins.