Saints To Sign Travis Etienne
Running back Travis Etienne is coming off the free agent market. The former Jaguar will sign with the Saints, Adam Schefter of ESPN reports.
More to come…
Chiefs To Sign RB Kenneth Walker
The Chiefs are changing course at running back. After many years with low-cost solutions, Kansas City will bring in this year’s top free agent prize at the position.
Kenneth Walker and the Chiefs are in agreement on a deal, NFL.com’s Tom Pelissero reports. Rumored as potentially not being ready to pay up for Walker, Kansas City is doing just that after its recent run games have underwhelmed. It is a three-year, $43.05MM deal, insider Jordan Schultz tweets. The Chiefs are authorizing $28.7MM guaranteed, per Schultz, who adds the contract can max out at $45MM.
This guarantee trails only Saquon Barkley‘s $36MM number among running backs, even if it represents the total guarantee figure rather than what is guaranteed at signing. This is a massive number for Walker, who split time with Zach Charbonnet last season as the Seahawks did not view their starter as a plus in the passing game. Pass pro is certainly not Walker’s strength, but he is coming off a Super Bowl where he finished with 161 scrimmage yards and became the first running back Super Bowl MVP since Terrell Davis 28 years ago.
Kansas City was believed to be set to come away with a running back during this year’s free agency, according to ESPN.com’s Jeremy Fowler, who also linked the team to Travis Etienne. Ranked higher on PFR’s free agent top 50, Walker represents the bigger prize due to being two years younger (25). He does bring some injury risk, having missed two games apiece in 2022 and ’23 before being sidelined for six games in 2024. But the Chiefs will pay up after Walker’s strong playoff performance punctuated a 17-game 2025.
The Seahawks were in touch with Walker leading up to the legal tampering period, per NFL.com’s Tom Pelissero, but recent rumors had pointed to the defending champs standing down if this market escalated beyond their comfort zone. Pelissero mentioned the Chiefs as a suitor today, and the team will deviate from its low-cost RB plans — which have been in place since Jamaal Charles‘ release nearly 10 years ago.
Following the Charles era, the Chiefs identified Kareem Hunt as a starter and saw him with the rushing title as a rookie. Hunt’s ugly assault on a woman at a Cleveland hotel being captured on video led the Chiefs to cut him during the 2018 season. After the team used Damien Williams as its RB1 in the wake of that separation, the team missed on a first-round pick (Clyde Edwards-Helaire). Isiah Pacheco bailed the Chiefs out on that whiff, but a 2024 leg fracture slowed the seventh-round pick. Both Pacheco and Hunt, who returned to Missouri in 2024, are unsigned.
Walker’s Seahawks tenure included two 1,000-yard rushing seasons. While Charbonnet outscored Walker 12-5 last season, the latter will become Kansas City’s unquestioned lead back in 2026. He figures to be the top running back Patrick Mahomes has played with since at least Hunt 1.0. Walker is also more elusive than even that version of Hunt, with Pro Football Focus ranking him first among RBs in 2025. Though, it will be interesting to see how the Chiefs get around Walker’s pass-pro limitations — which led the Seahawks to use Charbonnet in a near-equal timeshare.
The Chiefs do not have a big-ticket contract at wide receiver, though they are close to re-signing Travis Kelce on a one-year deal. Mahomes’ 10-year contract is continually restructured, moving cap hits down the road. That has helped the Chiefs, who just offloaded Trent McDuffie‘s fifth-year option salary to the Rams. In also letting Jaylen Watson sign with the Rams in free agency, the Chiefs are starting over at corner. But they will have a dynamic RB set to roll come September.
FA Notes: Pierce, Pats, Walker, Seahawks, Etienne, Jags, Broncos, Chiefs, Robinson, Giants, Titans, Cowboys
Prepared to make Stefon Diggs a one-and-done, the Patriots continue to be linked to A.J. Brown. The Eagles standout could be the team’s No. 1 option at receiver, but if the defending AFC champions are unable to strike a deal, MassLive.com’s Karen Guregian indicates a pivot to Alec Pierce could be in the cards.
Ranked as PFR’s No. 2 overall free agent, Pierce’s market will be competitive. Guregian points to a $25-$30MM-per-year number being required to close that deal. Pierce is the league’s two-time reigning yards-per-catch leader, topping 1,000 yards last season despite the Colts losing Daniel Jones in Week 13. We heard earlier this week Pierce would land at least $20MM per year. The Colts prioritized Jones via the transition tag, putting them at risk of losing Pierce on Monday.
Had the Colts made an effort to lock down Pierce before last season, Essentiallysports.com’s Tony Pauline notes the view at the Combine was he would have cost maybe half the AAV he is expected to command next week. Not much extension buzz existed last summer; that could be costly for the Colts soon. Pierce is preparing to hit free agency; he can officially begin talking to interested teams at 11am CT Monday.
Here is the latest coming out of the free agent market:
- Kenneth Walker making it past the tag deadline unattached makes him the top RB option this year. The Super Bowl LX MVP should be able to land a deal in the $12-$16MM-AAV neighborhood, SI.com’s Albert Breer notes. That would vault him into top-five territory at the position. The Giants have been tied to a Walker pursuit, with the Seahawks potentially ready to stand down after showing interest in retaining their four-year starter.
- If Walker scores a deal in that range, Breer estimates Travis Etienne winding up in the $10MM-per-year realm. The Jaguars are likely to let Etienne walk, with CBS Sports’ Jonathan Jones adding the team is prepared to move forward with 2025 fourth-rounder Bhayshul Tuten.
- The Broncos, who were set to pursue Breece Hall before his franchise tag, are a logical suitor for the longtime Jags starter, according to Jones. Walker could be on Denver’s radar as well, Jones adds, noting the Chiefs — who are believed to be interested in RB help (with Isiah Pacheco and Kareem Hunt unsigned) — are likely to be priced out of the Walker market. Kansas City does not believe Notre Dame’s Jeremiyah Love will be available at No. 9, per Jones, potentially pointing to an RB signing next week. Denver is looking for an RB to replace J.K. Dobbins alongside RJ Harvey, and it looks like the team is prepared to devote more resources to this position this offseason — with Russell Wilson finally off the books.
- Wan’Dale Robinson–Titans connections continue, but SNY’s Connor Hughes notes the Giants are still in on their homegrown slot receiver. That said, Tennessee is viewed as a very interested party for Robinson, whom Hughes pegs as more likely to leave New York than stay. A Nashville trek would reunite the 5-foot-8 WR with new Titans OC Brian Daboll. The Titans have been tied to a receiver pursuit for some time, as they are flush with cap space and expected to release Calvin Ridley. The Robinson market is expected to come in around $15MM per year, ESPN.com’s Jordan Raanan adds. With the Giants giving Darius Slayton a $12MM-AAV deal in 2025, how much will they be willing to spend here? Raanan views Robinson’s price tag as being a bit too steep for Big Blue.
- Two of Christian Parker‘s former charges may be on the Cowboys‘ radar. We heard Nakobe Dean‘s name connected to Dallas, which needs linebacker help, and the Dallas Morning News’ Calvin Watkins notes the team is in on the Eagles LB starter. The Cowboys are also interested in P.J. Locke, who has been an off-and-on starter at safety in Denver. Locke played under Parker previously, beginning as a starter under the new Dallas DC (after replacing Kareem Jackson in 2023).
Giants Interested In RB Kenneth Walker, Travis Etienne; Latest On New York’s FA Approach
While maybe not reaching Kirk Cousins– or Antonio Brown-level PFR volume, Saquon Barkley‘s final years as a Giant took up considerable space here. Giants brass could not extend him in 2022, franchise-tagged the Pro Bowler in 2023 and drew a hard line on his value in 2024 when no offer emerged. The Eagles benefited.
The Giants have since revamped their power structure, and it looks to be affecting their valuation of veteran running backs. With John Harbaugh calling the shots now and Joe Schoen losing considerable power, ESPN.com’s Jordan Raanan notes the Giants are believed to be interested in Kenneth Walker and Travis Etienne.
[RELATED: Giants Aiming To Trade OLB Kayvon Thibodeaux]
New York is showing considerable interest in beefing up its ground game, with Raanan adding connections to Notre Dame’s Jeremiyah Love have emerged as well. Love is viewed by some as this draft’s top prospect. His positional value will naturally result in a bit of a drop, but the Fighting Irish standout should not need to wait too long before hearing his name called in April. The Giants, who hold the No. 5 overall pick, striking early for a high-end free agent RB would seemingly send Love elsewhere.
With Breece Hall officially franchise-tagged at today’s deadline, Walker is expected to fetch the top RB contract in free agency. Confirming the Giants are interested, The Athletic’s Dan Duggan wonders if the team would be willing to go where that market ends up considering the team has other needs. That could be where Etienne comes in, with some more affordable backs — from Rico Dowdle to Tyler Allgeier to Kenneth Gainwell — set to be available too. Though, SNY’s Connor Hughes adds a “strong” push for a veteran starter-level option should be expected.
Walker, 25, is looking likely to reach free agency. Mutual interest exists between the Super Bowl MVP and the Seahawks, but they lose exclusive negotiating rights at 11am CT March 9, when the legal tampering period begins. Etienne, 27, played out his fifth-year option in Jacksonville and has more career carries — after a higher-volume college career — than Walker. His market should not be as costly, but the five-year Jaguar is better in pass protection and as a receiver.
The Giants have Cam Skattebo signed through 2027, and Tyrone Tracy‘s rookie deal runs through 2026. But Harbaugh is now calling the shots. Schoen said he is still leading the football operation, but Duggan confirmed a recent report that indicates new hire Dawn Aponte reports directly to Harbaugh. Schoen also confirmed (via the New York Daily News’ Pat Leonard) the Giants’ analytics and video departments now report to Aponte, creating a strange dynamic for the contract-year GM. Schoen still oversees the scouting department.
The Giants have had their GMs report to ownership for eons, but they adjusted the long-held structure for Harbaugh, whose imprint on the roster will be felt soon. Schoen did not confirm he would solely run free agency; it can be expected Harbaugh and Aponte will have significant say in that effort. More cap cuts are coming, but the Giants are still interested in retaining some of their own.
Already mentioned as being interested in retaining Wan’Dale Robinson, the Giants are seeing what it will take to keep Jermaine Eluemunor and Cor’Dale Flott. Harbaugh said (via the New York Post’s Paul Schwartz) the team wants to keep all three UFAs-to-be. The Giants met with David Mulugheta, who represents Eluemunor and Flott, at the Combine, Duggan adds.
Eluemunor, 31, maneuvered for a two-year deal in 2024 — an underrated subplot in HBO’s captivating Hard Knocks: Offseason effort — and it looks likely to work to his advantage. Braden Smith appears to be this market’s top right tackle, but he is coming off three seasons shortened by either injury or illness.
Eluemunor played both RT and LT in New York, starting all 31 games he played from 2024-25. His health stands to create a solid market, as both Smith and Jack Conklin come with notable injury pasts. Eluemunor also began his career with the Ravens, playing for Harbaugh from 2017-18. If Eluemunor departs, Duggan notes the team will be expected to pursue a free agent RT replacement.
Flott, 24, overtook former first-rounder Deonte Banks in Big Blue’s cornerback hierarchy. He outplayed the 2023 draftee opposite Paulson Adebo last season and may do reasonably well on the market. He is one of the youngest corners available. Converted from a slot player to primarily a boundary defender, Flott started 37 games with the Giants.
While Banks’ rookie deal runs through 2026, he has been linked to trade rumors amid a disappointing tenure. Harbaugh’s team will likely pursue an outside replacement if Flott departs. He is expected to draw significant FA interest, per Hughes, which could put the Giants in the market for a replacement.
Schwartz adds the Giants have “varying degrees of interest” in retaining tight end Daniel Bellinger and linebacker Micah McFadden. The Giants are higher on third-year veteran Theo Johnson than most around the league, Duggan adds, to the point Isaiah Likely may not be a strong candidate to follow Harbaugh from Baltimore.
Still, Hughes indicates tight end should be considered a priority in free agency. If Likely is deemed too pricey, the likes of Cade Otton, Chig Okonkwo, David Njoku and Dallas Goedert are poised to be available. Will this pursuit be to replace Johnson or complement him?
A 42-game starter on his rookie contract, Bellinger has played at least 51% of the Giants’ offensive snaps in three of his four seasons. He was used more frequently before Johnson’s arrival, however. McFadden started 36 games during his rookie deal but was limited to one in 2025; a season-ending foot injury in Week 1 impacted his free agent stock. The Giants releasing Bobby Okereke tonight and having McFadden unsigned makes linebacker a key need, one of a few the team carries into free agency.
Trey Hendrickson Among Players Who Did Not Receive Franchise Tag
Tag deadline day in the NFL came and went on Tuesday without much action. The Jets placed the franchise tag on running back Breece Hall, and the Colts used the transition tag on quarterback Daniel Jones. Hall and Jones are rounding out a small 2026 class of tagged players that also includes Cowboys wide receiver George Pickens and Falcons tight end Kyle Pitts.
As PFR’s Sam Robinson wrote in an extensive rundown of tag candidates, Trey Hendrickson, Alec Pierce, Kenneth Walker, Travis Etienne, Odafe Oweh and Jaelan Phillips represented other possibilities. All of their teams passed before the clock ran out at 3 p.m. CT. Each of them will be free to talk to other teams when the legal tampering window opens March 9.
The Bengals “never seriously considered” tagging Hendrickson, according to Dianna Russini of The Athletic. Had they done so and Hendrickson signed the tender, it would have cost $30.2MM against the Bengals’ cap next season. The four-time Pro Bowl defensive end should encounter a “strong market,” per Russini.
For his part, Hendrickson appears to already have one foot out the door. The 31-year-old took to Instagram on Tuesday to post what looks like a goodbye message to the Bengals and their fans.
“To the organization: Thank you for the opportunity to play the game I love at the highest level,” Hendrickson wrote. “The last five years have been filled with great wins and tough losses. Personal achievements and humbling adversities.”
If this is it for Hendrickson in Cincinnati, it will wrap up an enormously productive half-decade in the organization. Hendrickson spent the first four seasons of his career with the Saints before accepting the Bengals’ four-year, $60MM offer in March 2021. He relocated on the heels of what was then a career-high 13.5-sack season, but Hendrickson went on to top that number three times with the Bengals.
During his first year in Cincinnati, Hendrickson piled up 14 sacks in 16 games. The Bengals advanced to the Super Bowl for the third time in franchise history, but they lost a 23-20 nail-biter to the Rams. Hendrickson’s sack total fell to eight in 2022, though he still made his second straight Pro Bowl. The Bengals were once again among the last teams standing. However, since ending that season with a loss to the Chiefs in the AFC title game, they have not returned to the playoffs.
Heading into 2023, the Bengals awarded Hendrickson a one-year, $21MM extension to keep him in the fold through 2025. Even though Hendrickson went off for 17.5 sacks twice in a row from 2023-24, the Bengals could only muster back-to-back nine-win seasons. Hendrickson and the Bengals then engaged in a contentious contract standoff last year. Then seeking a long-term pact, Hendrickson reportedly turned down a three-year, $95MM offer. The Bengals’ rejected proposal did not include any guaranteed money after the first year of the deal.
After a drawn-out fight, the Bengals and Hendrickson finally shook hands on a revised contract in late August. Hendrickson had been in line to earn $16MM, but Cincinnati upped it to $30MM. In hindsight, it was not money well spent for the Bengals. Injuries wound up holding Hendrickson and quarterback Joe Burrow out of a combined 19 games. Their absences proved far too much to overcome during a six-win year for the club.
In what will likely end up as his final year in Cincinnati, Hendrickson played in seven games and totaled four sacks. He did not take the field past Oct. 26, but the Bengals had chances to trade him before the Nov. 4 deadline. Although the Bengals dropped their asking price from a first- to a second-rounder, they kept Hendrickson after nobody offered better than a fourth. Hendrickson, then dealing with a nagging hip issue, underwent core muscle surgery in early December. With no tag weighing him down, he can now turn his full attention to free agency.
2026 NFL Franchise Tag Candidates
We are now in Year 34 of the franchise tag, a retention tool that came about during the same offseason in which full-fledged free agency spawned. The NFL salary cap is rising at a rate allowing teams to hammer out more extensions than in previous periods. That has helped dilute free agency talent pools. This led to a 2025 landscape in which only two players — Tee Higgins and Trey Smith — received the franchise tag. The cap, which stood at $279.2MM in 2025, is expected to rise beyond $301MM this year.
This year’s free agent class looks to feature only one tag lock, but a handful of players make sense as candidates to be kept off the market. An antiquated NFL system regarding positional classifications also affects this year’s free agency crop, as a couple of high-end UFAs-to-be (Tyler Linderbaum, Devin Lloyd) would likely be kept off the market if the league modernized how it sorted positions with regards to tag prices.
Teams who use the franchise or transition tag have until July 15 to complete an extension; otherwise, negotiations cannot restart until after the 2026 season. The transition tag does not bring any compensation back for an unmatched offer sheet, but the two-first-rounder component associated with a franchise tag has not been especially relevant in ages. Although offer sheets have come out in previous eras (Sean Gilbert and Dan Wilkinson signed unmatched offers in the 1990s), clubs avoid these in fear of an unmatched proposal requiring two first-round picks to be sent to the tagging team.
The tag window opens at 3pm CT today. With clubs having until 3pm CT on March 3 to apply tags, here is who may be cuffed:
Likely tag recipients
George Pickens, WR (Cowboys)
Projected tag cost: $28.82MM
The Cowboys have regularly turned to the tag over the past decade. They cuffed DeMarcus Lawrence in 2018 and ’19 before locking down Dak Prescott in 2020 and ’21. The latter Prescott tag was procedural, as the quarterback used the threat of a lofty second tag number hitting Dallas’ cap sheet as leverage toward a player-friendly extension — one that laid the groundwork for his 2024 player-friendly extension. The Cowboys then kept Dalton Schultz (2022) and Tony Pollard (’23) off the market. After two years without unholstering their tag, the Cowboys appear all set to prevent Pickens from reaching free agency.
Acquiring Pickens in a May 2025 trade with the Steelers — which featured a 2026 third-round pick as the top asset going back to Pittsburgh –Dallas reaped immediate benefits from that swap. Pickens, 24, smashed his career-high receiving mark with 1,429 yards and nine touchdowns. That booked the former second-round pick his first Pro Bowl honor; more impressively, Pickens was named a second-team All-Pro. The mercurial ex-Steeler WR1 was more than 300 receiving yards clear of CeeDee Lamb for the Cowboys’ receiving lead; even though Lamb missed three games, Pickens’ per-game average (84.1) better Lamb’s (76.9).
A tag surfaced on the radar here in mid-November, and momentum has steadily built for Pickens to follow in Dez Bryant‘s footsteps as a Cowboy wideout being kept off the market. It will take a near-Saints-level odyssey for the Cowboys to create sufficient cap space for a Pickens tag and reasonable spending room; they are projected to be more than $30MM (per OverTheCap) north of the 2026 salary ceiling, but enough smoke has emerged here — after Pickens fit the tag profile upon arrival — to make it safe to expect this outcome.
The Steelers shipped out Pickens in part because of reliability concerns, but the 6-foot-3 playmaker outperformed — with a considerable QB upgrade in Prescott — his previous work. With Lamb tied to a $34MM-per-year deal and Prescott on an NFL-record $60MM-AAV extension, the Cowboys are far from certain to extend Pickens. A tag-and-trade play has surfaced as a possibility, but with negotiations not having begun as of early February, expect the Cowboys to use the tag to at least buy themselves more time on their ultra-talented WR2.
On tag radar:
Breece Hall, RB (Jets)
Projected tag cost: $14.54MM
The Chiefs offered a fourth-round pick for Hall at the deadline, but the Jets held onto their starting running back after having asked for at least a third-rounder. Hall denied a report he was seeking a New York exit — after the blockbuster deals involving Sauce Gardner and Quinnen Williams — but he could have a chance to explore his value on the open market soon. The Jets, however, have spoken highly of the 1,000-yard rusher. The tag has surfaced as a possibility.
Hall, 24, is more than two years younger than Etienne. He will thus command more in free agency. The former second-round pick is also more than three years removed from the ACL tear that sidetracked his rookie season. The Jets waited on a Hall extension, keeping him on his rookie contract while giving Gardner and Garrett Wilson big-ticket deals, but Aaron Glenn has spoken highly of the Iowa State alum.
Gang Green wants to retain Hall. The easiest way for that to happen would be to extend his negotiating window via the tag. A $12MM-per-year offer could await the fifth-year player, making a tag logical. If the Jets were to place the transition tag on Hall, it would cost them a projected $11.73MM. They would receive no compensation in the event of an unmatched offer sheet, thus allowing another team to dictate the contract structure a la the Packers’ Kyle Fuller offer sheet in 2018.
The Jets saw Hall sidekick Braelon Allen miss much of the season, but the former Joe Douglas-era fourth-round pick remains signed through 2027. Allen gives the Jets some protection against a Hall exit, with a mid-round 2027 compensatory pick possible as well. But Hall is a dynamic RB that will be an attractive FA commodity if unattached come March 9. The Jets have a big decision to make over the next two weeks.
Trey Hendrickson, DE (Bengals)
Projected tag cost: $34.8MM
The defensive end tag is projected to come in at $27.32MM, but because Hendrickson was attached to a $29MM salary (following a late-summer raise), he is the rare tag candidate to whom the 120% rule would apply. As PFR’s glossary indicates, “the amount of the one-year offer is determined by a formula that includes the salary cap figures and the non-exclusive franchise salaries at the player’s position for the previous five years. Alternately, the amount of the one-year offer can be 120% of the player’s previous salary, if that amount is greater.” In Hendrickson’s case, it would be.
Jags Not Expected To Tag Travis Etienne
The Jaguars are not expected to place the franchise tag on running back Travis Etienne, per CBS Sports’ Jonathan Jones, positioning the former first-round pick to hit free agency in March.
Etienne, 27, has been Jacksonville’s starting running back for the past four years and just finished a resurgent season following a disappointing 2024 campaign. He ranked 11th in the NFL with 1,107 rushing yards, 17th with 1,399 yards from scrimmage, and 10th with 13 rushing and receiving touchdowns. Etienne also registered the 14th-most missed tackles forced (46) and 10th-most yards after contact (831), per Pro Football Focus (subscription required), who also gave him strong grades as a pass blocker.
Those are strong numbers, but they do not justify a franchise tag projected to be $14.5MM (via OverTheCap), which would be the third-highest APY among NFL running backs. A transition tag at $11.7MM is more reasonable, but it will be difficult for the cap-strapped Jaguars to carry that number into free agency. It would also set a high floor on a potential extension.
The Jaguars also have 2025 draftees Bhayshul Tuten and LeQuint Allen on the roster, though neither had a major role as rookies. Instead of pursuing a more expensive Etienne extension, the team could opt for a cheaper veteran to add to their young backfield. This year’s draft class is less strong at the position.
Etienne said immediately after Jacksonville’s season ended that he was not focused on his contract situation. He later told reporters (via NFLonFOX) that he did not intend to sign with a cold-weather team. That would seem to rule out several teams, though Etienne could always change his mind once the contract offers hit the table.
Free Agent Stock Watch: Travis Etienne
Regime change has been a common occurrence during Travis Etienne‘s Jacksonville tenure. Although only two GMs have been in place during the former first-round pick’s time in Duval County, the team has effectively gone through three power structures during the RB’s five-season run.
The coach who drafted Etienne (Urban Meyer) proved unfit for NFL leadership but held full personnel control during his eventful several months on the job. Meyer had shown interesting transparency on the night the Jaguars chose Etienne, indicating the team wanted Kadarius Toney with the second of its first-round picks that night. GM Trent Baalke took over as the lead personnel exec following Meyer’s ouster, but Shad Khan fired him as the unpopular exec had affected the team’s 2025 HC search. The James Gladstone–Liam Coen power structure now controls Etienne’s future — until March, that is.
After a down 2024 during a disastrous Baalke-Doug Pederson finale, Etienne looked like he was fading out of the picture this offseason. Trade rumors emerged, with the Clemson alum’s fit in Coen’s offense questioned, and the Jags added two Gladstone-tabbed draftees (Bhayshul Tuten, LeQuint Allen) at the position. Those two crowded the backfield, after Tank Bigsby had forced a timeshare with Etienne last season. But Bigsby ended up being the one moved. This has smoothed Etienne’s runway to impress in a contract year.
Entering Week 5, Etienne leads the NFL with 6.1 yards per carry. His 394 rushing yards rank trail only Jonathan Taylor and James Cook this season. Both Cook and Taylor entered the season entrenched as their teams’ starting running backs. The Tuten-Allen draft class and Bigsby’s presence clouded Etienne’s Jacksonville future, but a 143-yard opener — highlighted by a 71-yard run — showed the potential for a contract-year bounce-back effort.
The Jags traded Bigsby to the Eagles for fifth- and sixth-round picks days later, and Etienne has regained his role as the backfield leader. Etienne also posted a 100-yard rushing performance against the 49ers, giving the Jags a road upset over a team with a high-level defense. We are only at the quarter pole for the season, but Etienne’s free agency value has increased based on his start and return to surefire RB1 duty in Jacksonville.
The ex-Trevor Lawrence college teammate had held this position in 2022 and ’23, submitting back-to-back 1,000-yard seasons after missing his rookie year with a Lisfranc injury. A costly fumble at the goal line during a narrow Week 1 loss to the Dolphins proved a harbinger of a step backward last year, however, as Etienne stumbled to a 558-yard season in 15 games. Bigsby also outgained him by a wide margin, tallying 766 yards. The landscape looks different for Etienne post-Bigsby, and the 2026 free agent market also lost some key names this summer.
Both Cook and Kyren Williams signed extensions, moving two 2022 draftees out of the free agent picture. Etienne became grouped with the 2022 draft class due to the Jags picking up his fifth-year option — an affordable $6.14MM — in May 2024. The rest of the 2021 RB class has already moved onto second contracts. The other first-round RB that year, Najee Harris, saw his fifth-year option declined and joined the Chargers in free agency. The Patriots and Panthers respectively extended Rhamondre Stevenson and Chuba Hubbard on similar deals — pacts that certainly could be relevant for Etienne.
The New England and Carolina RBs are tied to $9MM- and $8.3MM-per-year extensions, respectively. The contracts check in outside the top 10 in RB AAV. Etienne will need to stick the landing on this turnaround campaign if he is to move toward the Cook-Williams level; the Bills and Rams gave their respective starters $11MM- and $11.5MM-AAV extensions. Another sizable cap increase would help the five-year Jaguar’s cause, but matching the Cook and Williams numbers might be overly optimistic for a player whose value has fluctuated.
Etienne having a better resume compared unsigned 2022 draftees Breece Hall and Kenneth Walker could make him the top RB available next year, but age also stands to be a factor for the Jags ballcarrier. Hall is in an age-24 season, while Walker will turn 25 this month. Because Etienne both surprised by staying at Clemson for his 2020 senior season and was then restricted by the fifth-year option, he will be 27 when free agency opens. That is certainly on the older end for a first-time RB UFA.
Among RBs, only Etienne and Saquon Barkley have seen their fifth-year options exercised over the past seven offseasons. The Giants delayed Barkley’s path to free agency by franchise-tagging him after that option year, and the team did not show interest in re-signing him due partially to age. Barkley proceeded to deliver an all-time RB season in Philly, though the gulf in talent between he and Etienne (or he and just about every active running back) is fairly wide. Still, Etienne staying healthy should create a decent market — especially if he stays on this track.
A 2026 tag would seem a bit pricey here, with OverTheCap projecting the RB figure to come in beyond $14MM. The Jags also have Tuten as a potential replacement for 2026, with Allen as a passing-down option as well.
Etienne could force the new regime’s hand by continuing a strong season, with the current power brokers clearing out the veteran skill-position contracts (Evan Engram, Christian Kirk, Gabe Davis, Devin Duvernay) on the payroll this offseason. But as it stands entering October, Etienne is pointed toward a 2026 Jacksonville exit. The Jags hold exclusive negotiating rights with their RB1 until the legal tampering period begins March 9, but this will be an interesting market to monitor in the coming months.
Eagles To Acquire Tank Bigsby From Jaguars
We have our first major trade of the 2025 season before Week 1 has even come to an end. According to NFL Network’s Ian Rapoport, the Eagles are trading for Jaguars running back Tank Bigsby.
According to ESPN’s Adam Schefter, the Jaguars will receive 2026 fifth- and sixth-round picks from Philly. There is a slight wrinkle with the return. Per ESPN’s Michael DiRocco, the fifth-round selection is the pick the Eagles received from the 49ers in the Bryce Huff trade. That pick is set to improve to a fourth-round pick if Huff hits eight sacks in 2025. In that scenario, the Eagles would send that newfound fourth-round pick to Jacksonville instead of the listed fifth-round selection.
It’s a sudden, stunning move, especially from the Jaguars perspective. Bigsby was listed as a co-starter alongside Travis Etienne for the season opener. The latter finished that victory over the Panthers with 19 touches (including 16 carries) for 156 offensive yards. Bigsby was limited to only five carries and 12 yards.
Following the 2024 campaign, it appeared that Bigsby’s stock was rising in Jacksonville while Etienne’s continued to fall. A 2021 first-round pick, Etienne missed his rookie campaign before topping 1,400 yards from scrimmage in each of his first two healthy NFL seasons. However, he took a step back in 2024, when he was limited to only 812 yards and two scores. Bigsby, a 2023 third-round pick, served as a deep backup as a rookie before cutting into his teammate’s playing time in 2024, with the second-year player compiling 820 yards from scrimmage and seven touchdowns.
With new head coach Liam Coen and a new front office guiding the way, there were bound to be changes in 2025, especially on offense. The team further muddied their RB depth when they used a pair of draft picks at the position, including fourth-round pick Bhayshul Tuten. The Virginia Tech product impressed during training camp and was expected to carve out his own role as a rookie. However, it was expected to come at the expense of Etienne, not Bigsby.
Now, the Jaguars will move forward with Etienne leading the depth chart and Tuten taking on the RB2 role. Etienne is currently playing on his fifth-year option and is set to hit free agency after the season. The impending free agent has every reason to remain on the field during the 2025 campaign, with Tuten potentially taking over in 2026.
Bigsby, meanwhile, will slide into a clear backup role with the defending champs. Saquon Barkley will continue to command touches as an offensive focal point, which will greatly impact Bigsby’s 2025 outlook. On the flip side, the Bigsby acquisition could convince the Eagles to lean more on their Barkley alternatives.
The defending Offensive Player of the Year finished his first season in Philadelphia with a career-high 378 touches, and that doesn’t include the 100-plus looks he had in the playoffs. Coming off such a significant workload, the Eagles always seemed destined to monitor his touches in 2025. With Bigsby now on the roster, the coaching staff may be even more comfortable giving Barkley some much-needed rest during his age-28 campaign.
The Eagles also lost some depth at the position during their season opener, as backup Will Shipley exited the game with a rib injury. AJ Dillon is currently penciled in as the team’s RB3, and Bigsby could slide right into Shipley’s spot on the depth chart assuming the second-year player is forced to miss some time.
The Eagles may also be eyeing Bigsby for a role beyond the offense. According to EJ Smith of PHLY Sports, the RB may have also been acquired for his special teams ability. Bigsby got a look as a kick returner during his first two seasons, returning 10 kickoffs for 294 yards. He also had a 20-yard return yesterday. John Metchie and Shipley both got looks as returners for the Eagles in the season opener, with the duo averaging 16 yards between the two of them.
As Schefter notes, the Super Bowl champs have been especially active in the trade market over the past few weeks. In addition to their acquisitions of Bigsby and Metchie, the team has also added QB Sam Howell and OT Fred Johnson via trade.
Checking In On 2025 Fifth-Year Option Performers
The 2021 draft class has produced some of the NFL’s best players. Patrick Surtain claimed Defensive Player of the Year acclaim, after signing a monster extension that reset the cornerback market, and Ja’Marr Chase posted a triple-crown campaign that ended up pushing the wide receiver market past $40MM per year. Penei Sewell remains the NFL’s highest-paid tackle, and the DeVonta Smith/Jaylen Waddle deals helped shape other WR contracts over the past year.
Several players from that first round also did not pan out, with the quarterback crop being the most notable underachievers. Only Trevor Lawrence received an extension among the five 2021 first-round passers, though Justin Fields did do fairly well as a free agent this offseason. The 2021 first-round class did see 15 options exercised (and three players extended; Rashod Bateman has already been extended twice), marking a bump from the 2020 first-round contingent.
Nine players from that first round, however, exited this year’s offseason programs still tied to their rookie deals. Even though the 2020 CBA helped players on this front by making fifth-year options fully guaranteed, it can still be argued the options do first-rounders a disservice due to teams having five years of player control compared to four on deals ranging from Round 2 to Round 7. But the option system — now in its 15th year — is not going anywhere. And more than a fourth of the NFL’s franchises are moving toward training camp with big decisions to make.
Here is a look at where things stand between those teams and the batch of 2021 first-rounders on fifth-year options:
Kyle Pitts, TE (Falcons); option salary: $10.88MM
Flashes of upper-crust tight end play have emerged for Pitts, but Terry Fontenot leaving Chase on the board — months before the Falcons traded Julio Jones — was obviously a mistake. Pitts joined Mike Ditka (and now Brock Bowers) as the only rookie-year tight ends to clear 1,000 yards; the Florida product has not approached that range since. While Pitts has played 17 games in each of the past two seasons, the MCL injury he sustained in 2022 brought a hurdle that became difficult to negotiate. QB play has hurt Pitts, but the Falcons have not seen him justify the No. 4 overall investment. A contract-year uptick certainly could provide a gateway to a big 2026 free agency payday, however.
No Falcons extension rumors have surfaced this offseason, but Pitts has been the subject of trade talk. The Falcons are believed to have listened on Pitts earlier this offseason. A Day 2 pick was believed to be the desired asking price for the 24-year-old pass catcher. Barring a trade, Pitts will be counted on to help Michael Penix Jr.‘s development, alongside fellow Fontenot top-10 skill-position draftees Drake London and Bijan Robinson. Pitts’ age still points to a big-ticket 2026 deal being a reasonable outcome; he can remove notions of a “prove it” contract being necessary with a quality contract year.
Micah Parsons, DE (Cowboys); option salary: $24MM
In NFC East drama, the Cowboys traded the No. 10 overall pick to the Eagles, as Philly’s plan to outflank the Giants on Smith worked. Dallas won the prize here, landing Parsons at 12. Although Surtain has received the top honor among this draft class and Chase has become the highest-paid player, Parsons is also one of the NFL’s best players. He will be paid like it, and the Cowboys are operating on an eerily similar timeline compared to their slow-playing of other recent extensions.
A three-time All-Pro, Parsons is the best player still attached to a fifth-year option. And the EDGE market has changed significantly this offseason. Parsons, 26, confirmed the Cowboys’ latest delay will prove costly. A strange subplot between Jerry Jones and Parsons’ agent (David Mulugheta) also became known during these drawn-out negotiations. The former No. 12 overall pick has expected to become the NFL’s highest-paid defender, and it seems likely he will eclipse Chase’s $40.25MM-per-year deal as well. The Cowboys, whose slow-paced dealings with Dak Prescott and CeeDee Lamb defined their 2024 offseason, have been in talks with Parsons.
Even after a value gap was revealed, a report of common ground surfaced. A franchise that accustomed to — prior to the Lamb and Prescott deals, that is — long-term contracts also looks to have hit a term-length snag here. Trade rumors came out here months ago, but nothing on that front has surfaced in a while.
After Maxx Crosby eclipsed Nick Bosa‘s defender AAV record, Danielle Hunter cleared $35MM (albeit on a one-year bump) as well. Myles Garrett‘s $40MM-per-year accord now sets the market, and T.J. Watt and Aidan Hutchinson should benefit. Parsons having waited boosts his prospects as well, and being nearly four years younger than Garrett will present a clear case for the Penn State alum’s second contract to come in noticeably higher. When will the Cowboys complete their latest arduous contractual journey?
Rashawn Slater, LT (Chargers); option salary: $19MM
The Bolts did well to add Slater at No. 13. Like Parsons, not much doubt appears to exist about Slater’s prospects for a mega-deal. The Northwestern alum, who joined Parsons and Sewell in opting out of the 2020 COVID-19-marred college season, has started every game he has played with the Chargers. After missing 14 games due to injury in 2022, Slater bounced back and earned his second Pro Bowl nod (in 2024).
Last year brought extensions for Sewell, Christian Darrisaw (chosen 10 spots after Slater) and 2020 first-rounder Tristan Wirfs. Slater’s market will check in at a similar place. Extension talks began early this offseason, as the Jim Harbaugh–Joe Hortiz regime has now observed him for a season. Slater skipped OTAs but expects his second contract to come from the Chargers.
The period between minicamp and Week 1 regularly brings extensions, and this will be the most likely window for the Chargers to come to terms with their O-line anchor. Slater signing a second contract soon would allow it to overlap with at least two Joe Alt rookie-deal years, providing a benefit to an L.A. team with a $53MM-per-year Justin Herbert deal on the books.
Alijah Vera-Tucker, G (Jets); option salary: $15.31MM
After bouncing between guard and tackle, Vera-Tucker has settled at his natural position. The USC product, whom the Jets chose 14th overall in 2021, worked exclusively at right guard last year. Although the Jets faceplanted in Aaron Rodgers‘ only full season leading the charge, Vera-Tucker stayed healthy after suffering season-ending injuries in 2022 and ’23. Vera-Tucker started 15 games last year; Pro Football Focus graded him as the NFL’s ninth-best guard.
The Jets are believed to be eyeing the post-draft period to discuss a second contract with Vera-Tucker, though the team — its struggles notwithstanding — has several extension candidates. Even if Breece Hall may not be one of them, the Jets have 2022 first-rounders Sauce Gardner, Garrett Wilson and Jermaine Johnson extension-eligible now.
Vera-Tucker, who turned 26 this week, could take precedence due to being in a contract year. It is also possible a new Jets regime would want to see more given the guard’s injury struggles. Another quality year would make Vera-Tucker one of the top 2026 free agents, but the Jets hold exclusive negotiating rights until March 2026.
Jaelan Phillips, OLB (Dolphins); option salary: $13.25MM
While Vera-Tucker created some distance from his injury issues last season, Phillips sank deeper into that abyss by suffering an ACL tear after a November 2023 Achilles tear sent him off course. Chosen 18th overall in 2021, Phillips already carried injury baggage based on his UCLA past. He rocketed onto the first-round radar following a transfer to Miami, and the ex-Hurricane showed promise during the early years of his rookie contract. Phillips posted 25 QB hits and seven sacks in 2022 and was on pace to clear that career-high sack mark by a comfy margin in ’23, but the Dolphins soon saw injuries derail their edge rusher plan.
Phillips and Bradley Chubb‘s returns from malady-marred stretches represent a central Dolphins storyline. Their returns, which are nearly complete, will be paramount for a regime suddenly in some hot water. The GM who selected Phillips (Chris Grier) 18th overall remains in place, potentially helping the 26-year-old OLB in the event he can shake the injury trouble. But no extension rumors have emerged. This season will be about Phillips reestablishing his old form. If he does, a 2026 franchise tag or a lucrative deal coming in just south of that rate may await.
Kwity Paye, DE (Colts); option salary: $13.39MM
Paye’s value checks in below the Parsons-Slater tier, but he may also not be in “prove it” territory like Phillips. The former No. 21 overall pick has not battled major injury trouble nor has he delivered A-list production. Settling in as an upper-middle-class edge rusher thus far, the Michigan alum has recorded 16.5 sacks since 2023.
Paye, 26, played a big role in the Colts setting an Indianapolis-era record for sacks in a season (51) in 2023 and has certainly not been a bust for Chris Ballard‘s team. A decision will need to be made soon, though, even as the Colts have bigger issues to sort out. The Colts have done well to extend or re-sign their core players, but Ballard backtracked on an inward-focused approach this offseason by paying Charvarius Ward and Camryn Bynum. Will those deals affect Paye’s standing?
Indianapolis also has two veteran D-tackle contracts on the books (for DeForest Buckner and Grover Stewart), and the team used a first-round pick on D-end Laiatu Latu last year. A Paye payday would complement Latu’s rookie-deal years, and the Colts acting early could create a discount opportunity due to Paye never eclipsing nine sacks or 12 QB hits in a season. Those numbers also could give the team pause about Paye’s long-term viability. Paye was not interested in a 2024 extension, but it would stand to reason he would be prepared to talk terms now. No extension rumors have followed, though.
Travis Etienne, RB (Jaguars); option salary: $6.14MM
An Urban Meyer draftee, Etienne has now been a Lawrence teammate for eight years. The Clemson-developed running back delivered quality work for the 2022 and ’23 Jaguars teams, becoming a high-usage player under Doug Pederson in that span. Meyer had telegraphed a hope the Jags could draft Kadarius Toney in 2021, but Etienne proved the far better pick by posting back-to-back seasons of 1,400-plus yards from scrimmage after missing his rookie year with a foot injury. However, Etienne’s stock mirrored that of the team last year. Tank Bigsby cut into his RB1 role, and career-worst marks followed.
Etienne does not appear an extension candidate in Jacksonville, and trade rumors emerged before the draft. Linked to Ashton Jeanty at No. 5, the Jags pulled off a smokescreen operation centered around Travis Hunter. Even with Jacksonville going with Hunter over Jeanty, the team drafted two running backs (Bhayshul Tuten, LeQuint Allen) ahead of Liam Coen‘s first year in charge. Coen did throw cold water on an Etienne trade, but the 26-year-old RB appears set to play out his rookie contract and test free agency in 2026. It will be interesting to see if Coen, who coaxed a promising rookie-year season from Bucky Irving, can move Etienne back on track. But a post-draft report also indicated the new Jags HC is not especially high on the former No. 25 overall pick.
Greg Newsome, CB (Browns); option salary: $13.38MM
As Hunter headed to Jacksonville instead of Cleveland, Newsome saw his status receive an 11th-hour update ahead of the draft. Rather than see Hunter’s two-way role impact him, Newsome enters 2025 in a similar spot. The Browns traded down from No. 2 and took Mason Graham — in a draft that did not see Cleveland draft a cornerback — but Newsome still may not be long for Cleveland.
The Browns dangled the 25-year-old corner in trades before the draft; that followed a pre-deadline trade rumor. In April, it looked like Hunter’s part-time CB role would affect Newsome. But the Browns and Jags had been working on a trade for more than two weeks before the draft. Those trade talks may have been merely a reflection of the organization’s view of Newsome, the 2021 No. 26 overall pick.
Former third-rounder Martin Emerson has operated as Denzel Ward‘s perimeter complementary performer during his career, relegating Newsome to a slot role in sub-packages. Last season, that meant only three starts for Newsome, who described some frustration with his role during the winter. A trade may still be something to monitor ahead of the November deadline, especially if the Browns want to keep stockpiling ammo for a 2026 QB move.
Odafe Oweh, OLB (Ravens); option salary: $13.25MM
Like Paye, Oweh has submitted an extended sample of quality production. Neither had revealed themselves to be difference-making presences going into 2024, but after the Ravens moved on from Jadeveon Clowney, Oweh took a long-awaited step forward. The former No. 31 overall pick broke through for 10 sacks and 23 QB hits. Oweh had never previously surpassed five sacks or 15 hits in a season, with 2024 representing a significant development for a Ravens team that has otherwise relied on veteran stopgaps since Matt Judon‘s 2021 free agency departure.
With David Ojabo not yet panning out, Oweh still has a clear runway in Baltimore. An extension is in play for the ex-Parsons Penn State teammate. Not too much has come out on this front just yet, and the Ravens may also be interested in seeing if Oweh can replicate his 2024 production. Then again, the team has four years of intel on the 26-year-old pass rusher.
Waiting until 2026 to make a play here would run the risk of Oweh’s price rising beyond Baltimore’s comfort zone. No stranger to letting pass-rushing talent walk in free agency and recouping compensatory picks, the Ravens have also not been able to rely on a homegrown pass rusher since Judon. That would stand to make Oweh a reasonable priority in his contract year.