Browns’ 3% Sale To Private Equity Firm Approved
In August of 2024, NFL owners voted to permit private equity firms to purchase up to 10-percent stake in NFL teams with a minimum purchase of at least three percent for each stake. Back in May of this year, at the Orlando owners meeting, a vote was passed to approve the Browns’ sale of three percent of the team to Arctos Partners, LP, per Mary Kay Cabot of Cleveland.com.
Arctos, based out of Dallas, is one of only a few private equity firms permitted by the league to purchase a stake in NFL teams, alongside “Ares Management Corporation, Sixth Street, and a consortium group including Blackstone, Carlyle, CVC, Dynasty Equity, and Ludis, led by Hall of Fame running back Curtis Martin.”
The firms are able to hold stake in up to six teams but won’t hold voting power in any of them. Arctos owns eight percent of the Chargers and 10 percent of the Bills, along with minority stakes in the Boston Red Sox, Chicago Cubs, and Golden State Warriors.
According to Forbes magazine, the Browns hold the 18th-highest valuation in the NFL and 28th-highest of all sports franchises in the world. The publication valued the team at $6.4 billion, meaning Arctos’ stake should be worth $190MM. The team’s value recently saw a boost after the team committed another $200MM to their new plans for a $2.6 billion indoor stadium that broke ground in Brook Park at the end of April and is set to open in 2029.
The Haslam Sports Group originally committed to a $1.2 billion contribution which would have represented half of the proposed budget at the time of $2.4 billion. After initially upping only their contribution, the latest $200MM influx is intended to increase both the percentage of contribution to 67.5 percent and the budget for the project to $2.6 billion.
Contract Details: James, Steelers, Berrios
Here are the latest details from recently agreed to contracts from around the NFL:
- Derwin James, S (Chargers): Three years, $75.6MM. Almost all the details for James’ newest extension to stay in LA were divulged in the original post. Per OvertheCap.com, we can now add the final detail that the $3MM roster bonus in the final year of his contract will be due on the third day of the 2029 league year.
- Nick Herbig, OLB (Steelers): Four years, $100MM. Of the $42MM of guaranteed money on the deal, $21MM is fully guaranteed at signing, consisting of a $19.68MM signing bonus and Herbig’s 2026 base salary of $1.33MM, per OvertheCap.com. Herbig will have roster bonuses of $7MM, $6MM, and $6MM due to him on the third days of the 2028, 2029, and 2030 league years, respectively. He’ll also have $300K workout bonuses available to earn each year.
- Darnell Washington, TE (Steelers): Four years. $42MM. According to Michael Ginnitti of Spotrac, Washington’s new deal includes $20.25MM of total guarantees, $11.25MM of which is guaranteed at signing including a $10MM signing bonus and his 2026 base salary of $1.25MM. He’ll be able to earn annual roster bonuses $2.5MM from 2028-30.
- Braxton Berrios, WR (Giants): One year, $1.3MM. Per Dan Duggan of The Athletic, Berrios’ contract is simply a veteran minimum deal with a base salary of $1.3MM and no guaranteed money, similar to Odell Beckham, Jr.‘s deal.
DeMeco Ryans Hires Former Teammates As Coaching Fellows
DeMeco Ryans has reunited with former teammates Darren Sproles and Jordan Hicks, who have both been selected for Bill Walsh diversity coaching fellowships on the Texans’ staff.
While Ryan is best known for his time playing for the team he now coaches, he spent the last four years of his career in Philadelphia. He overlapped with Sproles in 2014 and 2015 and mentored Hicks, an Eagles 2015 third-round pick, during his rookie year.
The trio will now reunite in Houston where Sproles and Hicks will begin their coaching careers. Sproles was originally expected to join Sean Payton‘s staff in Denver, but instead will work with Ryans, Hicks, as well as the Texans’ seven other new Bill Walsh fellows.
Houston is also bringing analytics expert Russell Joyner back into the fold, according to KPRC2’s Aaron Wilson. He spent 11 years in Houston (2011-2022), starting as a football administration director, rising to director of football information systems, and finishing as the team’s senior head of decision science. He returns to the Texans as their senior director of research and development.
In another front office move, the Texans are hiring former Florida Gators and Penn Quakers defensive tackle Joey Slackman as a scouting assistant, per Wilson. He previously worked as a player personnel intern at Florida and James Madison University, according to his LinkedIn.
AFC Staff Changes: Titans, Dolphins, Browns
The Titans have made a few more additions to their front office, per a team announcement.
Daryl Nelson has come aboard as the senior director of player development and performance integration. From 2023 to 2025, he served as the Raiders’ director of team growth and development, per his LinkedIn. He previously worked for the Patriots from 2016 to 2023 with five years in the athletic training department and one as New England’s director of organizational development.
Nelson’s new role will involve coordinating between the Titans’ coaching, analytics, and athletic training departments to advance the development of their young roster. His background as a trainer will obviously contribute to this effort. In Las Vegas, he also prioritized players’ off-field education and overall well-being.
The Titans also hired Kwame Agyei-Minta and Jacob Reeves as scouting assistants. Agyei-Minta has worked for the University of South Carolina since 2023, primarily as a player personnel and recruiting assistant with a promotion to assistant director of scouting earlier this year (via LinkedIn). Reeves, a former defensive lineman at Southeastern University, was formerly an intern with the Falcons and the NFL’s BLESTO scouting service. His most recent role was as the assistant director of college personnel at the University of Florida, a position he held for the last three years.
Here is the latest from the AFC staffing ranks:
- Tennessee is also expecting the eventual departure of assistant special teams coach Rayna Stewart. Special teams coordinator John Fassell said (via Main Street Media’s Terry McCormick) that he fought to keep Stewart amid the Titans’ coaching changes this offseason but believes he should get a chance at his own coordinator job in the near future.
- The Dolphins have hired former Rice University intern Savan Patel as a football analytics staff assistant, per Neal Stratton of InsideTheLeague. Patel worked in video operations, recruiting, and scouting at Rice dating back to 2022 and also interned with the MLB’s Houston Astros in 2025.
- The Browns are promoting Josh Meyer from scouting assistant to West Coast area scout, according to Stratton. Meyer previously worked in personnel and recruiting at the University of Michigan.
- Cleveland also promoted Kathleen Wood to scouting assessment and development advisor (via Stratton). She has held a similar role since 2024; for four years before that, she was an Northeast area scout. Wood also has past experience with the Dolphins, Bills, and Eagles.
Bills Moving Travis Clayton To DL
The Bills are moving 2024 seventh-round pick Travis Clayton from offensive to defensive line, per Jay Skurski of The Buffalo News.
Clayton, 25, is a native of Basingstoke, England, and a converted rugby player who arrived in the NFL via the International Player Pathway program. His size and athleticism inspired comparisons to Eagles left tackle Jordan Mailata and excited the Bills enough to select him with their final pick of the 2024 draft (No. 221 overall).
Clayton suffered a shoulder injury during his first training camp and spent his rookie season on injured reserve. Last year, he appeared in two preseason games with 22 snaps at left tackle, per Pro Football Focus (subscription required), and did not make the 53-man roster. He stayed on the practice squad for the entire season but did not receive any elevations.
The Bills have starting offensive tackles Dion Dawkins and Spencer Brown under contract through 2028 with third-year UDFA Alec Anderson, 2024 sixth-rounder Tylan Grable, and 2025 sixth-rounder Chase Lundt all providing young developmental depth.
Buffalo’s defensive line also has a combination of proven veterans (Ed Oliver, DeWayne Carter) and recent draft picks (Deone Walker, T.J. Sanders, Zane Durant). Clayton is in just his third year playing football and is currently going through a crash course in defensive line play, so he faces an uphill path to making the 53-man roster. However, lining up on the defensive side of the trenches allows for more attacking, instinctive play that might be a smooth transition for a player who is still relatively new to the sport.
Bengals CB DJ Turner Hopeful For Extension Before Week 1
The Bengals are reportedly prioritizing new deals for cornerbacks DJ Turner and Dax Hill. In a piece focusing primarily on Turner, Jay Morrison of SI.com says the contract-year defender is optimistic he will have an extension in place before the start of the regular season.
Turner was a second-round choice in the 2023 draft, so his rookie deal does not come with a fifth-year option (Hill, a 2022 first-rounder, is currently scheduled to play out the fifth-year option of his rookie pact in 2026). As Morrison writes, Turner had been staying away from the club during voluntary spring work, but he was training elsewhere and remained in constant contact with head coach Zac Taylor. Turner reported to OTAs last Monday to begin practicing.
When asked after Tuesday’s OTA session about the chances of an extension coming to fruition in the near future, Turner said, “I’m real hopeful. This is definitely where I want to be.” He added that he wanted to be at the facility prior to mandatory minicamp because he wanted to meet the new additions to the defense and to simply be around the team.
“There’s a business side of it that will be ongoing, but I love the way that he’s handled it,” Taylor said of Turner. “I love the way he’s communicated it. I love the way his energy’s been. I love the way he’s worked. It’s been great to get him back.”
Morrison acknowledges it will be a challenge to retain both Hill and Turner on the heels of expensive acquisitions like Dexter Lawrence, Boye Mafe, and Bryan Cook (together with the cap charges that were already on the books for Joe Burrow, Ja’Marr Chase, and Tee Higgins). Nonetheless, it makes sense that a team whose recent defensive struggles are well-documented would want to keep their talented starting CB tandem in the fold.
Turner was a regular defensive presence during his first two professional seasons, but he handled a career-high snap share (89%) in 2025. He notched a pair of interceptions and comfortably set a new personal best with 18 pass deflections while making strides in terms of his performance in coverage (Pro Football Focus considered him the fourth-best cover corner in the NFL last season).
Other corners like Devon Witherspoon and Christian Gonzalez are seeking extensions as well, and those players are eyeing the top of the CB market, which is presently topped by Trent McDuffie’s $31MM average annual value. Turner likely will not get to that number, but he is surely targeting an AAV of at least $20.1MM, which nine corners currently enjoy. That will represent a rather sizable raise on the $3.76MM salary he is due in 2026.
Cardinals Not Planning Josh Sweat Trade?
JUNE 6: While the Cardinals gave Albert Breer of SI.com an emphatic “no” when he asked prior to this year’s draft if they would trade Sweat, Breer says he would not rule out a deal. Given Gannon’s presence in Green Bay, Breer believes the Packers remain a viable landing spot, particularly if Gannon does not believe he can help former first-rounder Lukas Van Ness start living up to his draft status.
JUNE 3: One season into a four-year, $76.4MM contract, Cardinals outside linebacker Josh Sweat has drawn trade interest this spring. However, it appears those teams will have to look elsewhere for pass-rushing help. The Cardinals are not dealing Sweat, Ian Rapoport of NFL Network reports.
After coming off the board in the fourth round of the 2018 draft, Sweat spent his first seven seasons in Philadelphia. He broke out as a starter from 2021-22, Jonathan Gannon‘s two-year run as the Eagles’ defensive coordinator, and continued to perform well after Gannon left to become the Cardinals’ head coach.
Sweat capped off his Eagles tenure with a 2.5-sack outburst in a Super Bowl LIX victory over the Chiefs in February 2025. Hitting free agency a few weeks later enabled Sweat to reunite with Gannon in Arizona, but their second partnership lasted just one year. The Cardinals fired Gannon in January on the heels of a 4-13 season, though new head coach Mike LaFleur retained defensive coordinator Nick Rallis.
Gannon is now the Packers’ D-coordinator, which has sparked social media rumors that they will swing a trade for Sweat. It might make sense for a team that will likely open the season without elite edge defender Micah Parsons, who is rehabbing from the tore ACL he suffered last December. But Rapoport dumped freezing cold water on the possibility, writing on X: “#AZCardinals edge rusher Josh Sweat is not being traded. Not to the #Packers or anywhere.”
Sweat has stayed away from Cardinals OTAs, but that was also the case when Gannon was in charge last year. LaFleur is unconcerned. He spoke highly of Sweat last week, saying (via Grant Gordon of NFL.com): “I’m just excited about the fact that I don’t have to game plan against this guy. I got to know him when I first got this job. He’s a good dude. He goes about his process and he’s not the first guy to go about his process the way he is in terms of how he’s training and all that.”
As a member of one of the NFL’s worst teams in 2025, Sweat was a rare bright spot. He put together his second 17-game season and tallied career highs in sacks (12) and forced fumbles (four). Despite his efforts, the Cardinals tied for the third-fewest sacks in the league (30). While his importance to their defense is obvious, they are expected to remain among the league’s bottom feeders in 2026. With that in mind, there is a case general manager Monti Ossenfort should seriously consider trading Sweat this summer. It seems Ossenfort, whose job may be on the line, is in no hurry to do so.
Perhaps the Cardinals will be more open to moving Sweat around the Nov. 3 trade deadline if they are out of the playoff race and contenders come calling. With an affordable $9.78MM base salary coming his way in 2026, Sweat’s contract adds to his value. His deal does not include any guarantees past the upcoming season.
Patriots CB Christian Gonzalez Absent From OTAs; Extension Before Week 1 Likely?
JUNE 7: While Gonzalez skipped OTAs, he was at least in town during the voluntary practices, as Volin observed. In Volin’s view, that suggests Gonzalez is hopeful he and the team will be able to come to terms on a new deal.
MAY 31: Patriots cornerback Christian Gonzalez has not been present for the team’s recent voluntary work, including the Wednesday OTA session that was open to the media, as ESPN’s Mike Reiss relays. Gonzalez is now eligible for an extension and is likely eyeing a top-of-the-market deal, so it is fair to consider this a contract-related absence, particularly since the 2023 first-rounder had participated in the voluntary portion of the Pats’ offseason program in each of his first three NFL seasons.
The fact that Gonzalez is under club control through the 2027 campaign by virtue of his fifth-year option means the Patriots still have some leverage here, per Ben Volin of the Boston Globe. Gonzalez may well set a new high-water mark for corners in terms of average annual value on the new money portion of his second contract, but the remaining seasons on his rookie accord will limit his overall AAV (for instance, as Volin observes, Derek Stingley Jr.’s three-year, $90MM extension with the Texans was tacked on to the final year of his rookie deal and his fifth-year option season, giving him a five-year, $112MM commitment in practice).
Nonetheless, Volin does anticipate New England and Gonzalez will come to terms on an extension before Week 1. In addition to the usual benefits of wrapping up a deal of this nature well before an elite player starts to sniff free agency – even if the CB market has not skyrocketed like other premium positions – the Patriots likely will have their hands full with Drake Maye negotiations in 2027.
Gonzalez, who will turn 24 next month and who recently expressed a desire to remain in Foxborough for the long haul, has submitted back-to-back standout seasons after being limited to four games as a rookie due to a dislocated shoulder and torn labrum. He earned second-team All-Pro honors in 2024, and despite missing the first three contests of the ‘25 season due to a hamstring ailment, he earned his first Pro Bowl nod.
As a key member of the Patriots’ AFC-winning outfit, Gonzalez was awarded a strong 75.0 overall grade from Pro Football Focus, which made him the site’s 14th-best corner out of 112 qualified players. He was also one of New England’s lone standouts during their Super Bowl LX loss, making some timely stops while allowing just one catch.
Fellow 2023 first-rounder Devon Witherspoon is also seeking an extension, and as we have noted on several occasions, the Seahawks’ star and Gonzalez share the same representation. They know the second member of the duo to put pen to paper will likely get the better deal, and as Volin suggests, neither of them wants to be the first to blink.
Witherspoon and Seattle reportedly are not close to finalizing an agreement.
Record-Setting Extension Still Expected For WR Puka Nacua
As a rookie fifth-rounder out of BYU, Puka Nacua exploded onto the scene in what seemed to be the debut of one the NFL’s next great receivers. Injuries in his sophomore season and a few off-the-field concerns have put a speed bump in Nacua’s path toward a second contract, but according to SportsBoom’s Jason La Canfora, a record-setting extension for the Rams wide receiver is seen as a foregone conclusion.
The argument for such an agreement is a simple one. Despite being the 20th wide receiver taken in the 2023 NFL Draft as the last pick of the fifth round, Nacua was the only one to eclipse 1,000 receiving yards as a rookie, blowing past that mark with 1,486, the fourth-highest total in the league that year. Though Houston’s C.J. Stroud walked away with Offensive Rookie of the Year honors, Nacua was named a second-team All-Pro and Pro Bowler in his first year of NFL play.
Though a five-game absence early into Year 2 limited him to only 11 games, Nacua’s per game averages had him on track for career highs in receptions and receiving yards. Even with one missed game last year, Nacua delivered on that momentum, setting new career highs with 129 receptions (most in the NFL), 1,715 receiving yards, and 10 touchdowns. With a league-leading average of 107.2 yards per game, the only thing that prevented him from leading in catches and yards was that one missed game.
Now a first-team All-Pro, Nacua’s outrageous, consistent production should guarantee that he will follow in the steps of the only receiver to out-gain him last year after Seattle’s Jaxon Smith-Njigba signed a four-year, $168.6MM extension that made him the highest-paid wide receiver in the league in March. Sometimes, an inability to stay on the field can hurt a player’s chances to land a big contract, but Nacua’s return to excellence after coming back from injury and his continued improvement after the fact have dispelled any notion that injury would factor largely into any contract discussions.
What has been seemingly harming Nacua’s progress towards a new deal is a series of questionable off-field decisions. During the season, Nacua violated team policy by live-streaming in the team’s locker room following a win, prompting some teammates to confront him. A few weeks later, Nacua appeared on a livestream and drew scrutiny for seemingly performing an antisemitic gesture — though he claimed to have no knowledge of its offensive nature — and criticizing league officials, an action that caused the NFL to fine him $25K.
Then, early into the offseason, Nacua was the subject of a civil lawsuit stemming from a claim that he made numerous unprovoked antisemitic statements to a woman before allegedly biting her repeatedly on the shoulder. Nacua denied the allegations but checked himself into a luxury rehabilitation center in Malibu shortly after. Nacua has since returned to normal team activities as a “full participant,” but his off-field decision-making could factor into the terms of his potential future extension.
As Nacua was putting a bow on his 2025 campaign, reports indicated that extending the fourth-year receiver would be a priority for Los Angeles. In the aftermath of the news of his civil lawsuit, though, the team’s focus seemed to shift from extensions to additions.
The Rams may decide there’s something they need to see from Nacua before they can feel comfortable signing him long-term, but however long that takes, La Canfora seems certain it will get done, even if it might require the team to use some contract language that will protect the franchise in the event of any further off-field issues.
The Rams appear to have a generational talent in the building with an opportunity to keep him in LA for a long time. It’s become apparent that that future may come with a certain level of risk outside of the building, but it doesn’t appear that risk will be enough to deter a record-setting deal from occurring.
Lions Have Chance To Capitalize On Depressed Markets
An inability to build around the likes of Barry Sanders, Calvin Johnson and Matthew Stafford shortened these greats' tenures in Detroit. Stafford asking for a trade in 2021 brought another rebuild, one that now stands as a signature overhaul in the 21st-century NFL.
Brad Holmes and Dan Campbell ignited a moribund franchise. As former Lions peers in the NFL basement go through more structural turnover, we are now in Year 6 of the Holmes-Campbell regime. Although Sanders lifted reasonably talented rosters in the 1990s -- albeit without consistent quarterback play -- it is safe to call the current Lions setup the most well-run operation in the Motor City since the AFL-NFL merger 56 years ago.
The team is now in a third offseason where extensions are due for homegrown talent. The 2024 offseason brought timely paydays for Amon-Ra St. Brown, Penei Sewell and Jared Goff. The Lions later circled back to extending Taylor Decker and Alim McNeill as well. Last year brought re-ups for Kerby Joseph and Jameson Williams. This offseason does not supply decisions at cornerstone positions, giving it less flash but arguably more intrigue.
The Lions' batch of extension candidates entering the offseason play positions featuring three depressed markets, with the fourth candidate -- safety Brian Branch -- coming off an ACL tear. Detroit already paid Jack Campbell, who is now the NFL's second-highest-paid off-ball linebacker, and must decide on Jahmyr Gibbs' value and whether to let Sam LaPorta play out a contract year or reach an agreement now. The positions these young talents play present an interesting opportunity, though having so many candidates for top-market deals at low- or medium-priority areas will require a critical macro evaluation from the Holmes-led front office.
