PFR Originals News & Rumors

PFR Originals: Colts, Bengals, Toney, Cap

July 21st, 2024 at 9:58pm CST by Ely Allen

Here is a rundown of PFR’s latest original content:

On Wednesday, Sam Robinson continued our Offseason in Review series with a deep dive on the offseason activities of the Colts. With last year’s rookie quarterback Anthony Richardson and running back Jonathan Taylor both expected to be back and healthy in 2024, the losses of Gardner Minshew and Zack Moss should be minimized, especially with the addition of last year’s Comeback Player of the Year Joe Flacco, who will now serve as Richardson’s QB2.
Last night, Adam La Rose produced the next edition of the series with an Offseason in Review focusing on the Bengals. The new home of Moss, Cincinnati became a haven for backups craving a bit of the limelight. Moss is expected to be the starter after backing up Taylor in Indianapolis, and safety Geno Stone will finally get an opportunity to be a full-time starter after nabbing seven interceptions as the third safety in Baltimore last year. The Bengals did have a bit of trouble with contract negotiations in the receivers rooms as Tee Higgins is set to play on the franchise tag, and Ja’Marr Chase remains without a new contract despite several new deals for wideouts this offseason.
Ben Levine took some time to examine the roster situation in Kansas City and just how wide receiver Kadarius Toney fits into it. While Toney does have a pair of Super Bowl rings thanks to his time with the Chiefs, it’s hard to say that he’s made enough contributions to justify a roster spot in 2024.
For the fans of NFL finances, Sam put out two originals focused on notable salary cap situations this week. First, he took a look at the 25 defensive players with the largest cap hits in 2024, highlighted by a number of elite pass rushers who may be looking into extensions in the near future to lessen their cap impact in the final years of their current deals. The next day, Sam shifted focus to dead money, showing the 24 players who represent dead money hits of $10MM or more. New Steelers quarterback Russell Wilson led the way by leaps and bounds with a $53MM dead money hit being attributed to his former team in Denver for next season.
Lastly, Rory Parks hosted a Community Tailgate this morning, inviting discussion in the comments about where veteran quarterback Ryan Tannehill could end up in free agency. One intriguing possibility saw Tannehill returning to South Beach, his home for the first seven years of his NFL career, as a backup to Tua Tagovailoa. It seems likely that his time as a starter in the NFL has come to an end as most of the options discussed entail a position battle for a backup position.

5 Key Stories: 7/14/24 – 7/21/24

July 21st, 2024 at 2:32pm CST by Adam La Rose

The NFL’s brief downtime is set to come to an end with training camps about to open around the league. The past few days have already seen a number of key developments take place, however. In case you missed any of the top stories from the past seven days, here is a quick recap:

Aiyuk Requests Trade Amidst Stalled 49ers Talks: Throughout the offseason, Brandon Aiyuk and the 49ers have been unable to gain traction on extension talks. The pending free agent receiver has now submitted a trade request, although to no surprise San Francisco does not intend to deal him. Speculation has swirled during recent months regarding the 26-year-old’s future given the gap between his asking price and the team’s valuation of him. At least five teams were prepared to pay Aiyuk roughly $28MM per season upon trading for him at the draft, and the Patriots have remained interested since the window for a swap appeared to close. The start of training camp is a soft deadline for the 49ers to hammer out a contract, but they have experience with lengthy summer holdouts in recent history; team and player will hope this latest episode also results in a deal.
Broncos, Meinerz Agree To Extension: Three years into an unexpectedly successful NFL career, Quinn Meinerz has landed a sizable second contract. The 25-year-old guard agreed to a four-year, $80MM extension with the Broncos featuring $45MM guaranteed. A Division III product, Meinerz became a starter midway through his rookie campaign and has established himself as one of the league’s top guards since then. Denver has responded with the most lucrative O-line investment in team history, one made more notable by the expensive pacts already on the books up front. Mike McGlinchey and Ben Powers each signed big-ticket deals in free agency last offseason, and Garett Bolles is attached to a $17MM-per-year deal. The latter is a pending free agent, though, and the Meinerz commitment will add to further doubts about his future in the Mile High City beyond 2024.
Barrett Retires Prior To Dolphins Debut: The Dolphins appeared to have a high-end insurance option along the edge in the form of Shaquil Barrett, but he will not play in Miami in 2024. The two-time Super Bowl winner announced his retirement from the NFL after nine seasons in the league. Barrett, 31, served as a complementary player with the Broncos before seeing his production take off in Tampa Bay. Across five Buccaneers campaigns, he racked up 45 sacks and a pair of Pro Bowl nods. Barrett inked a one-year Dolphins deal with Miami seeking edge depth behind the rehabbing Bradley Chubb and Jaelan Phillips. Given his retirement decision, the team will lean more on veteran Calais Campbell and first-round rookie Chop Robinson this year. Barrett departs the NFL with over $83MM in career earnings.
Fitterer Joins Commanders; Wright To Depart: A pair of notable changes are set to take place in the Commanders’ front office in 2024. Scott Fitterer – who spent the past three seasons as general manager of the Panthers – will join Washington’s staff as a personnel executive. His tenure in Carolina did not go as planned, and the blockbuster trade for the 2023 No. 1 pick and the handling of the Brian Burns situation will hurt his chances of landing a future GM gig. He will nevertheless be an experienced voice this year, one which will be Jason Wright’s last in the nation’s capital. The latter has resigned as president (the title he held since 2020) and he will depart the team no later than the end of this season. Wright’s absence after guiding a transition away from the Dan Snyder era will be felt as new owner Josh Harris moves forward.
Cowboys Prioritizing Lamb Over Prescott? The Cowboys have several big-money decisions to make in the near future. Dak Prescott and CeeDee Lamb are both set to enter the final year of their respective deals, and the former had been thought to be the higher priority ahead of training camp. The most recent report on the matter points to a Lamb extension actually being the top item on the to-do list, however. The receiver market has surged past $30MM per season this year, with Justin Jefferson’s $35MM AAV leading the way. Coming off a franchise record-setting campaign, Lamb could look to match that deal or at least come close to its value and guaranteed money. The 25-year-old skipped all spring workouts, and staying away from training camp is a distinct possibility. The progress of extension talks will thus be worth watching closely over the coming days.

Offseason In Review: Cincinnati Bengals

July 20th, 2024 at 10:10pm CST by Adam La Rose

Joe Burrow’s health was a talking point leading into the 2023 campaign as he dealt with a calf strain. That ailment gave way to a season-ending elbow injury midway through the year, one which added to his missed time and hindered the Bengals’ playoff push.

Cincinnati still managed a 9-8 record, but it was insufficient for a wild-card berth. The team identified improvements in the secondary as a priority, although changes on the other side of the ball have proven to be a key factor in the past few months as well. Alterations along the offensive line and at the skill positions (more of which are likely on hand next offseason) have left the Bengals with several new faces to integrate as Burrow and Co. prepare to navigate another long list of AFC contenders.

Trades:

Dealt RB Joe Mixon to Texans for 2024 seventh-round pick

Mixon’s Bengals future was in question last offseason, with his cap figure being weighed against the prospect of a transition to a younger setup in the backfield. Team and player reached agreement on a restructure during which the 27-year-old took a notable pay cut. Before a 2024 roster bonus was due, Cincinnati elected to move forward with a Mixon release.

The team ended up reversing course, though, with Houston taking on the veteran as a new lead back. The Texans showed heavy interest in making a backfield addition representing an upgrade over Devin Singletary, including a lucrative Saquon Barkley offer. Tony Pollard and D’Andre Swift were also on the team’s radar, but Mixon will carry the load for at least the short-term future.

Mixon, who became the third-leading rusher in Bengals history last season, agreed to a two-year, $19.75MM extension upon arrival in Houston. As a result of that agreement (which includes $13MM in guarantees), the Oklahoma product is under contract through 2026 to begin the second phase of his career. The Texans’ offense features plenty of pass-catching options, but Mixon should be a factor in his new team’s bid to repeat the success of 2023.

For the Bengals, life after the former second-rounder will mark a notable change in the backfield. In each of his healthy seasons since 2018, Mixon logged no fewer than 210 carries, topping 1,200 scrimmage yards during each of those campaigns. Cincinnati will have a much more cost-efficient running back setup moving forward, but the team’s production in the ground game will face question marks.

Free agency additions:

Sheldon Rankins, DT. Two years, $24.5MM ($8MM guaranteed)
Geno Stone, S. Two years, $14MM ($6MM guaranteed)
Zack Moss, RB. Two years, $8MM ($3MM guaranteed)
Trent Brown, T. One year, $4.75MM ($2MM guaranteed)
Mike Gesicki, TE. One year, $2.5MM ($400K guaranteed)
Vonn Bell, S. One year, $1.2MM
Logan Woodside, QB. One year, $1.13MM

With respect to PFR’s top 50 free agent list, the Bengals withstood many more losses than additions this spring. Rankins is nevertheless a notable new face along the defensive interior. The 30-year-old delivered a strong showing during his one-and-done Texans campaign, racking up six sacks. That figure represented his highest total since 2018 and included a three-sack performance against Cincinnati. He will be counted on to deliver an impact in the pass-rush department as a central member on the team’s new-look defensive line.

Rankins received an offer averaging $12MM per year from the Texans before deciding to join the Bengals. The former Saints first-rounder logged a consistent workload during his Jets stint (2021-22), and his uptick in production in Houston will lead to high expectations on his fourth career team. Pairing Trey Hendrickson with a dependable interior rush contributor could help a defense which ranked 17th in sacks last season. Cincinnati struggled against the run in 2023, though, and the team’s new faces up front will play a key role in determining if improvement takes place.

The Bengals finished mid-pack through the air in 2023 despite Burrow’s missed time. Their largest issue on offense was the ground game (90 rushing yards per contest, 31st in the league). With Mixon no longer in the picture, increased attention will be paid to Chase Brown in addition to Moss moving forward. The latter operated in a rotational capacity during the start of his career, but the midseason 2022 trade which moved him from the Bills to the Colts resulted in an uptick in playing time.

For two different stretches last season, Moss operated as Indianapolis’ lead back. The 26-year-old received double-digit carries eight times in 2023, and his 183 total attempts were comfortably the most of his career. Undersized at 5-9, the 205-pounder will be tasked with operating between the tackles for Cincinnati to complement Chase’s speed. Moss did not receive as lucrative of a deal as many other free agent backs this offseason, but his addition could prove to be a highly cost-effective one if he translates his Colts success to his new home.

Entering the offseason, Cincinnati planned to make a short-term addition at right tackle while also seeking out a more permanent solution at the position via the draft. That approach led to a Mekhi Becton visit prior to the Brown signing. Like he did during his first Patriots stint, Brown manned the blindside over the past two seasons upon returning to New England. The 31-year-old blocker struggled in 2022 but when healthy last season, he rebounded in terms of PFF evaluation (80.2 overall grade). He also has experience at the right tackle spot he will play with the Bengals.

Brown’s deal contains incentives (just as his Patriots pacts did), so his play in Cincinnati will carry financial implications. With Burrow’s health remaining a top organizational priority, pass protection at both tackle spots will continue to be an area of scrutiny for the Bengals. Brown’s long-term replacement may very well be in the organization, but the 10th-year veteran could provide an experienced option during at least the start of the campaign.

After breakdowns in the secondary became a consistent problem for the 2023 Bengals, it came as no surprise that additions at the safety spot were deemed a priority. Stone, 25, established himself as a strong special-teamer early in his Baltimore career, but he took on a much larger defensive workload this past season. The former seventh-rounder logged an 82% snap share and translated that into an AFC-leading seven interceptions and nine pass deflections. A repeat of that ball production would certainly be welcomed in a Jessie Bates-less defensive backfield.

Bell landed a three-year Panthers deal last offseason, but after a single campaign with the team he was released in a cost-shedding move. That paved the way for an inexpensive return to Cincinnati, one which could see him reprise his former starting role. With recent first-rounder Dax Hill transitioning from safety to corner, the play of Stone and Bell on the backend will go a long way in determining how much the Bengals rebound from 2023’s struggles against the pass.

Re-signings:

Drew Sample, TE. Three years, $10.5MM ($3.5MM guaranteed)
Akeem Davis-Gaither, LB. One year, $2.74MM ($676K guaranteed)
Trenton Irwin, WR. One year, $1.5MM ($250K guaranteed)
Cody Ford, OL. One year, $1.35MM ($175K guaranteed)
Tanner Hudson, TE. One year, $1.29MM ($168K guaranteed)
Joe Bachie, LB. One year, $1.28MM ($75K guaranteed)
Trayveon Williams, RB. One year, $1.29MM
Cal Adomitis, LS. One year, $985K
Devin Cochran, T. One year, $795K

Taking a flier on Gesicki will give the Bengals a new look at tight end from a pass-catching standpoint, but the team will continue to depend on familiar faces at the position. Sample has not come close to matching his playing time or production from 2020, but he has remained a staple in Cincinnati’s offense in the years since. The 28-year-old also contributes on special teams, and third-phase responsibilities will no doubt continue moving forward as Hudson looks to once again serve as a complementary receiving target.

The same holds true for Irwin, who has spent his entire five-year career in Cincinnati. The former UDFA scored four touchdowns on only 15 receptions in 2022, and he followed that up with personal bests in receptions (25) and yards (316) last season. He could take another step forward in 2024 and in doing so provide the Bengals with cost-effective production in the passing game. Considering the team’s current (and future) financial situation at the receiver spot, effective depth will be critical.

Notable losses:

Chidobe Awuzie, CB
Markus Bailey, LB
Tyler Boyd, WR
A.J. McCarron, QB (released)
D.J. Reader, DT
Max Scharping, OL
Nick Scott, S (released)
Irv Smith Jr., TE
Josh Tupou, DT
Mitchell Wilcox, TE
Jonah Williams, T

Once the Bengals added Orlando Brown Jr. in free agency last offseason, the writing seemed to be on the wall for Williams. The former first-rounder rescinded a trade request and accepted a right tackle assignment for 2023, once again serving as a full-time starter. Williams underwhelmed in terms of PFF evaluation (for the second year in a row), which no doubt hurt his market value and hindered his chances of finding a left tackle gig with a new team.

The 26-year-old nevertheless secured $30MM on a two-year Cardinals deal. Arizona will move Paris Johnson Jr. to the blind side in 2024, a transition which comes as little surprise considering his pedigree and college experience. That will leave Williams to continue handling right tackle responsibilities in his new home while the Bengals move in a different direction

Reader’s torn quad – the second of his career – ended his Bengals tenure and threatened to reduce his market value. Cincinnati hoped to keep its four-year DT starter in the fold, but it soon became clear he would at least explore other opportunities. The 30-year-old enjoyed a consistent spell in Cincinnati (when healthy), proving his $53MM Bengals pact to be a solid investment on the team’s part.

To little surprise, Reader was unable to match that figure on his third career contract. His Lions visit ultimately yielded a two-year deal, but its maximum value ($27.25MM) only includes $7.4MM guaranteed at signing. The former fifth-rounder’s health and performance in Detroit will determine whether or not he remains with the Lions for 2025. Likewise, uncertainty surrounds the veteran and rookie additions the Bengals brought in to replace him.

With Ja’Marr Chase and Tee Higgins both in need of new deals, it became clear entering the 2023 season that Boyd’s next contract would likely come from a new team. Upon hitting the market, several teams were listed as suitors. One of those was his hometown Steelers, with which a mutual interest existed for working out an agreement. The Steelers were not willing to increase the value of the initial offer made to the Pittsburgh native, though, steering Boyd in a new direction.

The eight-year veteran took several visits and eventually inked a one-year Titans deal. Boyd, 29, will have plenty of competitions for targets on a team which also features DeAndre Hopkins and Calvin Ridley at the receiver spot. That setup is not unlike what he would have experienced had he remained in Cincinnati, and Will Levis is certainly not as accomplished as Burrow. Nonetheless, Boyd’s 2025 market will come down to his ability to perform under a familiar face in Brian Callahan.

Awuzie was a key figure on the Bengals’ defense during their Super Bowl run, but his 2022 ACL tear hurt his subsequent performances. He found himself out of the lineup midway through last season and despite returning to first-team duties afterwards, the former Cowboy was not expected to be retained in free agency.

Also taking a Cincinnati-to-Tennessee pathway, Awuzie landed nearly $23MM guaranteed on a three-year pact. He will be counted on as a full-time starter with the Titans while the Bengals rely on recent draftees to replace him. Upon switching to corner, Hill will spend the summer competing with DJ Turner for a starting spot. The winner of that battle will join fellow recent second-round selection Cam Taylor-Britt in a revamped Cincinnati secondary.

Draft:

Round 1, No. 18: Amarius Mims (T, Georgia)
Round 2, No. 49: Kris Jenkins Jr. (DT, Michigan) (signed)
Round 3, No. 80: Jermaine Burton, WR (Alabama) (signed)
Round 3, No. 97: McKinnley Jackson (DT, Texas A&M) (signed)
Round 4, No. 115: Erick All (TE, Iowa) (signed)
Round 5, No. 149: Josh Newton (CB, TCU) (signed)
Round 6, No. 194: Tanner McLachlan (TE, Arizona) (signed)
Round 6, No. 214: Cedric Johnson (DE, Ole Miss) (signed)
Round 7, No. 224 (from Cardinals through Texans): Daijahn Anthony (DB, Mississippi State) (signed)
Round 7, No. 237: Matt Lee (C, Miami) (signed)

With Brown being added on a one-year deal, right tackle remained a central priority leading into the draft. To no surprise, then, Cincinnati was connected to a number of prospects at the top of a celebrated class. JC Latham was firmly on the team’s radar, although the Alabama product established himself as the second-best O-lineman and went to the Titans at No. 7.

Likewise, the Bengals hosted both Taliese Fuaga and Troy Fautanu on pre-draft visits while evaluating their Day 1 options. The former excelled at right tackle with Oregon State, but the Saints added him with the intention of trying him on the blind side. That is also the case for the latter, whom Cincinnati will see plenty of for years to come during his Steelers tenure. When facing a decision between Fautanu and Mims, the Bengals chose to invest in upside over track record.

Fautanu played a key role on an offense which journeyed to the national title game, although he enters the league with questions related to health and the arm length needed to hold up at tackle. Mims certainly represents a gamble in his own respect based on a severe lack of playing time at Georgia. He made just eight starts in college. Starts in the 2022 playoffs set up a starting right tackle gig this past season, but an ankle injury limited his availability prior to declaring.

That decision proved to be a sound one as his frame (6-foot-7, 340 pounds) and athletic upside still resulted in a top-20 selection. Mims’ size and traits could lead to success on the right side early on and even allow him to transition to the left side down the road. Considering Mims’ inexperience, Cincinnati would no doubt prefer a redshirt rookie season to acclimate to the NFL — if Brown makes such a path possible.

Jenkins made only one appearance during his freshman campaign, but over the past three seasons he was an impactful member of the Wolverines’ elite defense. The second-generation NFL D-lineman’s best season as a run defender came in 2022 (54 stops), but during the team’s undefeated run to the title he set new career highs in sacks (2.5) and tackles for loss (4.5). That led to second-team all-conference and All-American honors and as such high expectations at the NFL level.

Considering the addition of Rankins in free agency (and with B.J. Hill still under contract for 2024), neither Jenkins nor Jackson should be forced into a heavy workload right away. The latter spent four seasons with the Aggies, increasing his sack total with every passing campaign. He added 15.5 tackles for loss during his college career. Translating that disruptiveness to the pro game will allow him to carve out at least a rotational role along the interior.

Burton spent two years each at Georgia and Alabama, establishing himself as a deep threat with both programs. The relocating SEC talent’s 18 yards per catch average and 22 touchdowns illustrate his big-play ability, although character concerns are present as well upon entry into the NFL. The 6-foot, 196-pounder is one of several contenders for the third receiver spot vacated by Boyd, so his training camp and preseason performances will be interesting to see.

Extensions and restructures:

Signed C Ted Karras to one-year, $6MM extension
Signed QB Jake Browning to two-year, $1.95MM extension

Karras was part of the Bengals’ 2022 efforts to shore up their offensive line, and he has served in a starting role throughout his Cincinnati tenure. The 31-year-old was set to see his contract expire following the 2024 campaign, but his play to date earned him a bump in compensation and an extra year of security.

Karras will average $6.6MM across the next two seasons, a figure which could prove to be cost-effective if he remains a consistent performer. The former Patriot and Dolphin hopes to finish his career in Cincinnati, and his chances of doing so have increased.

Browning was tendered as an exclusive rights free agent, but cases such as his often result in separate extensions being worked out. The former UDFA would have been on course for restricted free agency in 2025, but his multi-year deal will prevent that from happening. Browning, 28, took over for Burrow after he was lost to injury and led the league in completion percentage (70.4%).

That total was not accompanied by a strong touchdown-to-interception ratio (12:7), but team and player will hope the near future will not include an extended run of opportunities to improve upon it. Browning’s presence will give the Bengals notable continuity at multiple spots on the QB depth chart.

Other:

WR Tee Higgins signed $21.82MM franchise tag
Exercised WR Ja’Marr Chase’s 2025 fifth-year option ($21.82MM)
OC Brian Callahan took Titans’ head coaching gig
Promoted QBs coach Dan Pitcher to offensive coordinator
Turned down DE Trey Hendrickson‘s trade request
Hired Justin Rascati as pass-game coordinator
Colt Anderson joined Titans as special teams coordinator
Signed 14 UDFAs

The expected outcome in Higgins’ case played out with 2024 set up as a walk year. The 25-year-old requested a trade in March with signs continuing to point to no extension agreement being reached, and Chase is known to be a higher priority for the Bengals. Cincinnati remained steadfast in wanting to keep Higgins in place for the coming season, though, so no serious consideration was made for moving him.

Higgins seemed to admit that when publicly addressing his future. Talks on a long-term deal have not taken place recently, and a new round of negotiations (especially without Chase having an extension in hand) would come as a notable surprise.

With Higgins tied to the tag — the only member of this year’s nine-man tag contingent not extended by the July 15 deadline — no talks can commence until January. The Bengals have not been prepared to submit a Higgins offer averaging more than $20MM per season; presuming the Bengals continue this recent negotiating pattern with their No. 2 wideout, a departure next offseason should be considered likely.

The top of the receiver market experienced another wave this offseason, and Higgins stands to benefit from a new pecking order in the relatively near future. He topped 900 yards as a rookie, then recorded back-to-back campaigns with 1,000-plus after Chase’s arrival. Rebounding from an injury-shortened 2023 season would allow Higgins to further his case for serving as a true No. 1 option on a new team. Meeting that goal is feasible, but almost certainly certainly not in Cincinnati after this year.

The Bengals are not known for spending big on the open market or with respect to retaining homegrown players. A rather expensive (but obvious) exception came last offseason with Burrow landing $55MM per season – coupled with significant cashflow early on and over $145MM locked in at signing. A similar commitment (relative to positional value, of course) will be needed to keep Chase in the fold.

Reuniting with his former LSU quarterback has allowed Chase to live up to expectations and stake his claim as one of the league’s top wideouts at any age. The 24-year-old has earned a Pro Bowl nod during each of his three seasons, racking up 3,717 yards and 29 touchdowns in that span. To little surprise, Chase’s camp waited for Justin Jefferson to reset the receiver market (via a $35MM-per-year extension with monster guarantees) before allowing serious talks for his own deal to take place.

A number of receivers looking for new deals skipped voluntary OTAs this spring, Chase included. Cincy’s top weapon did, however, take part in mandatory minicamp, a sign he may be willing to attend training camp even if no agreement is worked out by that point. Jefferson’s deal offers a potential blueprint for a Chase extension, and CeeDee Lamb could provide another comparable example if he and the Cowboys finalize an agreement of their own. Plenty of time remains for team and player to find a resolution in Chase’s case, but it will remain a storyline if none emerges before the start of the year.

Head coach Zac Taylor has been in place since 2019, and he had enjoyed notable stability at both the offensive and defensive coordinator spots until this offseason. DC Lou Anarumo is going into his sixth season with the Bengals, but Callahan’s departure will be felt on offense. Taylor will continue calling plays for the unit, meaning expectations will remain high and a drop-off would come as a surprise. Still, Cincinnati’s play design and preparation on the offensive side of the ball will undergo changes in a season when a deep postseason run remains a distinct possibility.

Callahan was on the head coaching track prior to this year, and he had second interviews lined up with the Panthers and Falcons prior to his Titans hire. While his departure thus came as little surprise, the same was true when Pitcher was tapped as Callahan’s replacement. The former took outside interviews, but Cincinnati only met with one other candidate before tapping him for the gig. Pitcher’s Bengals tenure dates back to 2016, so his transition to the role should be relatively smooth.

Hendrickson, 29, and the Bengals worked out a short-term arrangement last offseason, one which upped his 2023 earnings and added a year to his pact. His 2024 and 2025 salaries are nonguaranteed, though, which explains his decision to approach the team prior to the draft in search of new assurances. None were given, and Taylor confirmed in April the team’s stance that no consideration would be given to a trade.

The three-time Pro Bowler appears to be on board with suiting up in 2024 even if no adjustment is made to his pact. Hendrickson has been as advertised (perhaps better) in terms of production since joining Cincinnati, racking up 39.5 sacks across three campaigns. Expectations will remain high for the standout pass rusher moving forward, although it will be interesting to see if he makes a final push for a raise and/or new guarantees before the start of the regular season.

Top 10 cap charges for 2024:

Joe Burrow, QB: $29.55MM
Tee Higgins, WR: $21.82MM
Trey Hendrickson, DE: $20.17MM
Orlando Brown Jr., LT: $16.4MM
Sheldon Rankins, DT: $11.94MM
B.J. Hill, DT: $10.83MM
Sam Hubbard, DE: $10.12MM
Ja’Marr Chase, WR: $9.81MM
Alex Cappa, G: $9.25MM
Logan Wilson, LB: $9.05MM

Burrow’s market-topping deal will play a central role in Cincinnati’s financial decisions for years to come. The same will, of course, be true at the receiver position once Chase’s extension is in place. Even without an adjustment to his contract, Hendrickson ranks ninth in the league amongst edge rusher cap hits, a sign of his standing around the league at the position. Hill is the only player on the list other than Higgins who is a pending free agent, so stability at a number of key positions should be expected in 2025.

After Burrow’s latest major injury, he and the Bengals took a new approach to his recovery during the spring. Remaining healthy during the fall and through the postseason received added emphasis at the expense of returning to full health months before the start of the campaign, a strategy with which Burrow is fully on board.

If it succeeds, Cincinnati will once again be a team to be taken seriously in the AFC North and Super Bowl LIX races. A number of teams in the conference have made intriguing additions at the quarterback spot in recent years, and the AFC North figures to remain arguably the most competitive division in the league. Questions will loom over Higgins’ future and the effects his departure would have on the Bengals’ offense in 2025; for now, though, that unit (and the team as a whole) should enter the fall with aspirations of another run to the Super Bowl.

Release Candidate: Kadarius Toney

July 20th, 2024 at 10:00pm CST by Ben Levine

As the Chiefs navigated their post-Tyreek Hill offense, the front office was seeking reinforcement at the receiver position. One of the team’s most notable WR acquisitions was Kadarius Toney, who the Chiefs acquired from the Giants midway through the 2022 campaign. While Toney has won a pair of Super Bowl rings during his year-plus in Kansas City, the wideout hasn’t lived up to the billing. Now with only a year remaining on his rookie contract, it’s uncertain if he’ll even reach the 2024 campaign with the Chiefs.

A 2021 first-round pick by the Giants, Toney showed flashes during his rookie campaign, finishing with 39 catches for 420 yards. However, injuries quickly proved to be an issue in both 2021 and 2022, leading to the Giants deciding to cut bait. The Chiefs swooped in and acquired the intriguing wideout, sending New York a future third- and sixth-round pick.

Toney struggled to carve out a significant role during his first season in Kansas City, finishing with 14 receptions in seven games. He showed out a bit in that year’s playoffs, finishing with 50 yards in Kansas City’s divisional-round victory before setting the Super Bowl record with a 65-yard punt return (while also hauling in a touchdown). With JuJu Smith-Schuster and Mecole Hardman out the door, Toney had a chance to step into a major role with Patrick Mahomes heading into 2023.

Unfortunately, it was more of the same for the third-year pro. Toney was unable to emerge ahead of Rashee Rice, Justin Watson, and Marquez Valdes-Scantling (and, of course, TE Travis Kelce). The Chiefs even went out and re-acquired Hardman, leading to Toney being inactive for four of the team’s final seven games, plus each of the Chiefs’ four playoff contests.

Heading into the 2024 campaign, Toney faces even more competition than he did last year. The Chiefs were quick to add Marquise Brown on a one-year agreement, and they moved up in the first round to select Xavier Worthy. That leaves Toney to compete with many of the same WRs who he was unable to supplant during the 2023 season, but there are fewer roster spots this time around.

Rice’s future is in question following some troubling off-the-field incidents, but the 2023 second-round pick notably finished his rookie season with 935 yards from scrimmage. Hardman and Watson were ahead of Toney at the end of the 2023 season, and the team is also still rostering 2022 second-round pick Skyy Moore. Even when accounting for Rice’s uncertain roster status, Toney would have to leap at least one player if he hopes to make the roster.

The Chiefs unsurprisingly declined Toney’s fifth-year option back in May, making the wide receiver a free agent after this season. While moving on from his $2.5MM salary in 2024 wouldn’t provide any cap relief, the dead cap charge isn’t enough to make his cut untenable. With only three seasons under his belt, Toney would be subject to waivers, and his draft pedigree could be enough for a team to bite. More likely, Toney will hit free agency before having to settle for a lower salary (and/or even a practice squad gig).

The NFL’s Eight-Figure Dead Money Hits For 2024

July 18th, 2024 at 10:20pm CST by Sam Robinson

The NFL moved into new territory this offseason, with one Broncos decision creating a staggering gap between the most costly dead money hits and No. 2 on the all-time list. Beyond Denver’s Russell Wilson release, other teams are taking on notable dead cap hits in 2024. Here are the players who will account for more than $10MM in dead money on teams’ payrolls this year.

Russell Wilson, QB (Broncos): $53MM
Stefon Diggs, WR (Bills): $31.1MM
Kirk Cousins, QB (Vikings): $28.5MM
Haason Reddick, EDGE (Eagles) $21.52MM
Jamal Adams, S (Seahawks) $20.83MM
J.C. Jackson, CB (Chargers): $20.83MM
David Bakhtiari, T (Packers): $18.15MM
Danielle Hunter, EDGE (Vikings): $14.91MM
Carlton Davis, CB (Buccaneers) $14.1MM
Andrus Peat, OL (Saints): $13.64MM
Kevin Byard, S (Titans): $13.36MM
Mike Williams, WR (Chargers): $12.46MM
Aaron Jones, RB (Packers): $12.36MM
Chandler Jones, EDGE (Raiders): $12.27MM
Mike Evans, WR (Buccaneers): $12.19MM
Keenan Allen, WR (Chargers): $11.62MM
Xavien Howard, CB (Dolphins): $11.41MM
Michael Thomas, WR (Saints): $11.19MM
Laken Tomlinson, G (Jets): $10.74MM
Leonard Williams, DL (Giants): $10.64MM
Arik Armstead, DL (49ers) $10.31MM
Quandre Diggs, S (Seahawks): $10.26MM
Byron Jones, CB (Dolphins): $10.1MM
Maliek Collins, DT (Texans): $10MM

Months after trading for Wilson, the Broncos gave the decorated quarterback a five-year, $245MM extension. While Wilson offered something of a bounce-back effort from a shockingly mediocre 2022, Sean Payton‘s team still opted to designate him as a post-June 1 cut. Wilson’s $37MM injury guarantee, which the Broncos attempted to move in an effort that led to NFLPA involvement but no grievance, would have resulted in comparable dead money in 2025 had he remained on Denver’s roster on Day 5 of the 2024 league year and then been released next year.

The Broncos will receive a small cap credit — due to Wilson’s veteran minimum Steelers deal — in 2025, but the team will take on more than $83MM in total dead money from the release. This shatters the NFL record for dead money, which the Falcons previously held by trading Matt Ryan ($40.5MM), and the contract will remain on Denver’s books through the 2025 season. The Broncos opted to take on more dead money this year than next, separating this post-June 1 cut from most teams’ strategies.

The Bills’ decision to trade Diggs less than two years after giving him a four-year extension broke the non-QB dead money record. Unlike the Wilson matter, Buffalo will take on the Pro Bowl wide receiver’s full dead cap hit this year. Ditto Green Bay, which passed on a Bakhtiari post-June 1 designation. The Chargers will also be rid of the Allen and Williams responsibilities after 2024. The Seahawks also passed on post-June 1 designations with Adams and Diggs.

New Orleans has Thomas set to count more than $9MM in dead money in 2025 as well due to using the June 1 strategy. The Dolphins are still paying out the Jones contract from a 2023 post-June 1 designation, while Howard’s post-June 1 status will create a $15.7MM dead money penalty in 2025.

Void years created the Vikings’ Cousins cap hit. After attempting to negotiate a fourth contract with the veteran quarterback last year, the parties failing to come to terms resulted in void years being added in a restructure. The Falcons came in much higher than the Vikings were willing to go, guarantee-wise, leading Minnesota to a new QB path and significant Cousins dead money.

The Eagles also included three void years on Reddick’s contract, and the Buccaneers will eat some Evans dead money — despite re-signing the 11th-year wide receiver just before free agency — due to a void year-driven trigger before the latest contract was signed.

Offseason In Review: Indianapolis Colts

July 17th, 2024 at 9:55pm CST by Sam Robinson

The Colts nearly turned a seemingly lost season into a playoff berth, falling just short of an AFC South title despite Gardner Minshew needing to replace Anthony Richardson early. Indianapolis responded to its 9-8 showing by displaying tremendous confidence in Chris Ballard‘s homegrown core, one that has largely been around as the team has cycled through post-Andrew Luck quarterback options. A spree of extensions and re-signings defined Indy’s offseason; well, that and Richardson’s rehab effort.

While last season marked a surprise surge, it also still brought few answers on the gamble the team took at No. 4 overall. Richardson entered the NFL as a raw prospect with tantalizing tools; his run of injuries last year brought obvious concerns. More importantly, the Florida product threw 84 passes after a 393-pass Gators career. The Colts need the dual-threat QB to show signs he will be the long-awaited post-Luck long-term QB. Some of Luck’s teammates are still in the picture in Indy, illustrating how far back Ballard’s core goes. The team continued its build-from-within strategy this offseason.

Extensions and restructures:

Gave DT DeForest Buckner two-year, $46MM extension ($43.25MM guaranteed)
Extended franchise-tagged WR Michael Pittman Jr. at three years, $70MM ($41MM guaranteed)
Handed LB Zaire Franklin four-year, $31.26MM extension ($17.62MM guaranteed)

As injuries caught up with T.Y. Hilton, Pittman quickly became the Colts’ lead wideout. The 2020 second-rounder had operated as such for most of his career, and while the Colts resolved the Jonathan Taylor matter before taking care of Pittman, the franchise tag made a rare appearance in Indianapolis to ensure the two-time 1,000-yard receiver could not test the market. Using the tag for the first time since cuffing Pat McAfee in 2013, the Colts slapped a $21.8MM tender on Pittman. Unlike the Bengals, who are renting Tee Higgins for at least one more season, Pittman — chosen one spot after Higgins in the 2020 second round — signed an extension just before the legal tampering period opened.

Pittman’s extension moved the $21.8MM number off the Colts’ books, freeing them up to execute a retention-heavy free agency strategy. The Colts also did well, as it turned out, by not letting negotiations drag near the July 15 deadline.

Indy extending Pittman on March 11 came just before Calvin Ridley scored a four-year, $92MM deal ($46.98MM fully guaranteed) and weeks before Amon-Ra St. Brown‘s extension confirmed another market boom was coming. Pittman, 26, was not a candidate to rival A.J. Brown and Justin Jefferson‘s $32MM- and $35MM-per-year extensions, but the fifth-year Colt would have benefited by the WR ceiling rising had those transactions occurred before his.

The Colts convincing Pittman, shortly after news of the cap’s $30.6MM spike emerged, to do a deal south of where 2022 extension recipients Deebo Samuel and D.K. Metcalf reside proved a win for the team. Following the St. Brown and Jefferson pacts, along with Nico Collins‘ $24MM-per-year deal, Pittman sits as the NFL’s 14th-highest-paid wideout. CeeDee Lamb and Brandon Aiyuk figure to affect that placement soon, but via the short-term extension, Pittman should have a chance at another big payday in his late 20s.

Richardson’s injury probably helped Pittman contractually. The raw rookie likely would not have been able to set up Pittman for the season he had — 109 catches, 1,152 yards — but Minshew peppered the 6-foot-4 weapon with targets to help the Colts’ surprising run to the postseason precipice. The Colts strengthened their receiving corps in the draft, but Richardson will be looking Pittman’s way first as the team enters its second season under Shane Steichen.

After Indianapolis’ binge of agreements with homegrown talent, Ballard extended the D-line centerpiece he acquired via trade four years ago. Obtained for a 2020 first-round pick, Buckner has remained one of the NFL’s best defensive tackles. While the 49ers cut Arik Armstead four years after choosing his slightly cheaper extension over a Buckner re-up back in 2020, the latter is still going strong in Indiana.

Buckner, 30, scored a deal that comes nearly fully guaranteed. He moved from $21MM per year to $23MM on average, and while his current AAV sits seventh among DTs, the former top-10 pick traded a push for a top-market salary for security. Buckner’s 2024 and ’25 base salaries are fully guaranteed, and the Colts have the Oregon alum on the books through his age-32 season.

A two-time Pro Bowler as a Colt — in addition to receiving a 2020 first-team All-Pro nod — Buckner has missed one game since being traded. The Colts will hope to continue to rely on a player who has anchored their D-line during a period of edge rusher uncertainty. Buckner’s presence boosted the development of Kwity Paye and Dayo Odeyingbo, both of whom making progress en route to career-high sack totals last season. Buckner’s four-year Colts sack count (32.5) betters his four-season 49ers work (28.5), and his 87 QB hits with the AFC team outflank his San Francisco total as well.

Totaling between seven and 9.5 sacks during his Colts tenure, Buckner gives the team a high floor that will certainly be important as the team attempts to load up around Richardson. Pro Football Focus has slotted Buckner as a top-12 DT in three of his four Indy seasons, and ESPN’s pass rush win rate metric tabbed him fifth among interior D-linemen last season. This near-fully guaranteed contract shows one of the luxuries a rookie-scale QB provides for a franchise.

As Shaquille Leonard‘s injuries mounted to the point the perennial All-Pro became a late-season release last year, the Colts leaned on Franklin. The latter’s latest agreement came two years after the Colts had re-signed the former seventh-rounder to a three-year, $10MM deal. A Syracuse product, Franklin adds to Ballard’s breakthrough 2018 draft haul. The ’18 group played a key role in the Colts reigniting after a miserable Andrew Luck-less 2017, with Leonard, Quenton Nelson, Braden Smith, Nyheim Hines and Tyquan Lewis going off the board before Franklin.

Amid Leonard’s run of 2022 misfortune, Franklin moved into a full-time role and racked up 167 tackles alongside Bobby Okereke. The Colts depended on Franklin more last season, with Okereke defecting to the Giants. Franklin compiled 179 tackles in a three-down role. He has forced four fumbles over the past two seasons. Although PFF slotted Franklin 58th among off-ball LBs in each of those years, the Colts authorized a significant raise to continue as a regular in Gus Bradley‘s defense.

Re-signings:

Grover Stewart, DT. Three years, $39MM ($17.99MM guaranteed)
Kenny Moore, CB. Three years, $30MM ($16MM guaranteed)
Tyquan Lewis, DL. Two years, $12MM ($6.7MM guaranteed)
Julian Blackmon, S. One year, $3.7MM ($3.19MM guaranteed)
Rigoberto Sanchez, P. Three years, $7.5MM ($2.5MM guaranteed)
Taven Bryan, DT. One year, $2MM ($1.13MM guaranteed)
Danny Pinter, OL. One year, $1.22MM ($500K guaranteed)
Ronnie Harrison, S/LB. One year, $1.29MM ($168K guaranteed)
Genard Avery, DE. One year, $1.13MM
Trey Sermon, RB. One year, $1.1MM

Of the Colts’ 22 projected offensive and defensive starters, 19 are homegrown. Moore practically pushes that number to 20, having been a Colts waiver claim (from the Patriots) ahead of his 2017 rookie season. That doubled as Ballard’s first offseason. Despite the Colts having one playoff berth since Luck’s surprise 2019 retirement, the Moore and Stewart efforts quickly showed how Ballard planned to supplement Richardson’s contract.

The money largely went to in-house additions, with Moore being the most significant of the re-signed contingent. For the second time, a Moore agreement raised the ceiling for slot defenders. The Colts took care of Moore when he was first extension-eligible, back in 2019. Although the former UDFA played out the deal, he has remained in form good enough to prompt another investment. Considering the uncertainty surrounding the Colts’ boundary cornerback spots, Moore locking down the slot is paramount to the team’s defensive effectiveness.

Moore, who will turn 29 next month, made an effort to secure a new contract during the 2022 offseason. With two years remaining on the four-year, $33.3MM contract, Ballard and Co. did not hand out a new one following Moore’s 2021 Pro Bowl slate. Like Chris Harris before him, Moore has operated as a high-end slot stopper who wanted to be paid closer to perimeter standouts. After a down 2022, Moore bounced back with a three-INT season that included two pick-sixes. Indianapolis ranked third in defensive DVOA in the slot compared to 25th in outside coverage. Moore’s 13 INTs from the slot position are five more than any other player since 2017; PFF ranked the 5-9 cover man 18th among all corners last season.

Also included in the top 40 on PFR’s free agent list, Stewart joined Moore in securing better terms compared to his second Colts contract. The team gave the 2017 fourth-rounder a notable raise after his 2023 season brought a PED suspension. Stewart’s six-game absence showed against the run. The Colts allowed 107.9 rushing yards per game with Stewart suited up; during his six-game ban, Indianapolis yielded 153 on the ground. Stewart, 30, also registered a career-high four sacks in 2022. Other than the PED penalty, he has not missed a game since 2019.

This offseason brought the first test for Ballard regarding third-contract investments; the Moore and Stewart accords showed no hesitancy existed on this front. Ballard has long prioritized homegrown talent, and these contracts show the longtime GM is willing to reward pillars approaching the end of their primes. The Colts will deploy two 30-year-old DT starters, though their DE core is much younger.

It took some time for Blackmon to come back, and the former second-round pick was not too pleased with his market. The four-year Colts starter visited the Bills and 49ers before agreeing to re-sign — likely to bolster his value for a 2025 free agency redux. Blackmon, 26 in August, was part of a safety market that rewarded high-level young talent (Antoine Winfield Jr., Xavier McKinney, Kyle Dugger) but cast other proven players (Justin Simmons, Quandre Diggs, Eddie Jackson, Jamal Adams, Kevin Byard) aside. Kamren Curl also settled for a low-level Rams deal, and it is far from certain a solid Blackmon season will lead to a value spike as macro safety assessments fluctuate.

A middle tier did form in free agency, with C.J. Gardner-Johnson (three years, $27MM), Brandon Jones (3/20) and Geno Stone (2/12) cashing in this year. Blackmon could aim for this tier in 2025, though he was already coming off a decent contract year. The Utah alum intercepted four passes, deflected eight more and recovered two fumbles in 2023, as Bradley used the versatile safety across the formation. More of the same should be expected, as Blackmon has helped cover for 2022 third-rounder Nick Cross being unable — through two years, at least — to establish himself as a reliable starter.

During Blackmon’s time in free agency, the Colts hosted Kareem Jackson and showed interest in former Buccaneers and Chiefs option Mike Edwards. The duo having not previously played with the Colts clearly hurt his chances during one of the NFL’s most inward-focused offseasons in recent memory. Lewis also benefited from this approach, inking a fourth Indianapolis contract, with Sanchez also now tied to a third Colts accord. Sanchez, 29, recovered from a season-nullifying injury sustained just before the 2022 campaign. After a 17-game 2023, the former UDFA is back for an eighth season in Indianapolis.

Settling in as a rotational backup capable of playing inside and outside, Lewis matched his career-high with four sacks in 2023 and established a new mark for QB hits with 13. The Colts racked up 51 sacks last season, good enough for fifth in the NFL. While Buckner, Paye, Odeyingbo and Samson Ebukam led the effort by each collecting at least seven, Lewis managed to recover from a second patellar tendon tear in two years. The former second-round pick suited up for all 17 games and scored some guaranteed money as a result, keeping Indy’s D-line core together for 2024.

Free agency additions:

Raekwon Davis, DT. Two years, $14MM ($6MM guaranteed)
Joe Flacco, QB. One year, $4.5MM ($4.5MM guaranteed)

This is quite the run for Flacco, who has gone from receiving next to no interest as a 2023 free agent to the NFL’s Comeback Player of the Year to securing the most guaranteed money he has received since his final Ravens deal ended with a Broncos release. Flacco, who has banked $177MM over his career to make him a top-10 earner in NFL history, has not signed for more than $3.5MM since inking his second and final Ravens extension in 2016. Five regular-season Browns starts and a forgettable playoff outing generated interest, as the Colts needed a new backup after Minshew joined Flacco in boosting his market last season.

Joining the Browns after Deshaun Watson needed season-ending surgery, Flacco fared far better than he had as a Jet. The former Super Bowl MVP, who initially caught on with Cleveland via a practice squad deal, averaged 7.9 yards per attempt and threw 13 TD passes (and eight INTs) in five games — a stretch that included wins over the Texans, Jaguars and Jets. This came despite the Browns missing their starting tackles and Nick Chubb. Flacco posted four straight 300-yard showings in the Cleveland wins, driving the team to an 11-6 record and a postseason berth. Although Flacco topped 300 yards again in the wild-card round, his two pick-sixes ended the unexpected surge.

At 39, Flacco is the NFL’s second-oldest quarterback (behind Aaron Rodgers). He also expected the Browns to show interest, but Cleveland — as it shifts to a more Watson-friendly offense — preferred ex-Indianapolis FA target Jameis Winston. The Eagles also made Flacco an offer for what would have been a Philly return trip. This Colts move comes with clear risk, given Flacco’s struggles in the four seasons between his Baltimore stay and the Cleveland rebound, as Richardson came out of multiple games due to injury last season.

The Colts’ re-signings aside, they did pursue Danielle Hunter. Indianapolis is believed to have made the longtime Vikings cog an offer worth more than what he collected from the Texans. However, it would be surprising if the Colts’ proposal included a guarantee structure like the one the Texans provided.

Hunter signed a two-year deal worth $49MM; a whopping $48MM of that is guaranteed at signing. Hunter, 29, would have been an interesting addition to a Colts team that saw Paye and Odeyingbo combine for 16.5 sacks last season. As it stands, Paye and Ebukam will retain their roles as the team’s starting DEs. But first-rounder Laiatu Latu is positioned to take over one of those spots soon.

PFF graded Davis as one of the NFL’s worst D-tackles in 2021 and ’22, assigning him a mid-pack assessment last season. The Colts certainly do not share that view, and a market formed for the ex-Dolphin’s services. Christian Wilkins and Zach Sieler‘s work overshadowed the run stuffer’s Miami contributions — Davis is even overshadowed in this section via the photo choice — but the 6-foot-7 D-tackle made 48 starts. Heading into his age-27 season, the former second-rounder will help fortify a Colts defense that will lean on eighth- and ninth-year DT starters.

Notable losses:

Jacob Martin, DE
Isaiah McKenzie, WR
Gardner Minshew, QB
Zack Moss, RB
Al-Quadin Muhammad, DE
Derek Rivers, DE

Once again needed for an extensive assignment, Minshew kept the Colts’ season from coming apart. The team, which had given its 2023 backup a one-year deal worth $3.5MM, went 7-6 in Minshew starts and came close to snaring a surprise playoff spot in Week 18. Minshew’s showing led to a market forming, and none of this year’s free agent QBs fetched the kind of deal the mustachioed passer did from the Raiders. The sixth-year QB secured $15MM guaranteed at signing — on a two-year, $25MM accord. The Colts were not going to approach that for a clear backup, though Minshew does not appear a lock — based on offseason reports — to beat out Aidan O’Connell for the Raiders’ starting job.

A $15MM guarantee for a backup would be an interesting allocation of resources for the Raiders, but Minshew has made a career out of productive QB2 work. He put together a 15-9 TD-INT ratio last season, while averaging a career-low 6.7 yards per pass. Flacco is far more willing to take downfield chances, but the Colts moving from a 27-year-old arm to a 39-year-old Richardson insurance policy represents a dice roll. The Colts passed on the likes of Sam Darnold, Tyrod Taylor or a Jacoby Brissett reunion for Flacco, though the other three cost more.

The Colts did not make a notable move to fill their RB2 post. Moss effectively replaced Taylor during his contract- and injury-marred season, ranking seventh in rush yards over expected. The ex-Bills second-rounder brought little as a receiver but did the job on the ground (794 yards, five TDs) in his contract year. This led to the Bengals bringing him in to replace Joe Mixon, via a two-year deal worth $8MM ($3MM guaranteed). Given the Colts’ Taylor payment, it makes sense they passed on venturing into the RB middle class. But Moss’ exit does leave a void.

Indy did not draft a back, leaving former 49ers third-rounder Trey Sermon — on team No. 3 since 2022 — holding an early lead for the backup job. Other options include Evan Hull, who spent most his rookie year on IR, and Tyler Goodson — a 2022 Packers UDFA. After cruising through his college career and first two NFL seasons healthy, Taylor has battled injuries during the past two seasons. Dalvin Cook and Kareem Hunt, the latter of whom having visited the Colts last summer, are available. Ex-Saquon Barkley backup Matt Breida and former Austin Ekeler reserve Joshua Kelley are fresher options, but Sermon — via his 2022 season in Philadelphia — has now been in Steichen’s system for two seasons. That may be enough for the once-disappointing 49er RB1 hopeful.

Draft:

Round 1, No. 15: Laiatu Latu (EDGE, UCLA) (signed)
Round 2, No. 52 (from Panthers): Adonai Mitchell (WR, Texas) (signed)
Round 3, No. 79 (from Jaguars through Falcons): Matt Goncalves (T, Pittsburgh) (signed)
Round 4, No. 117: Tanor Bortolini (C, Wisconsin) (signed)
Round 5, No. 142 (from Titans through Panthers): Anthony Gould (WR, Oregon State) (signed)
Round 5, No. 151: Jaylon Carlies (S, Missouri) (signed)
Round 5, No. 164 (from Lions through Eagles): Jaylin Simpson (S, Auburn) (signed)
Round 6, No. 210: Micah Abraham (CB, Marshall) (signed)
Round 7, No. 234: Jonah Laulu (DT, Oklahoma) (signed)

Ballard raved about landing the draft’s first defensive player at No. 15, but the Colts did make offers to climb up in Round 1. Rumored to be after a pass catcher, the Colts attempted to climb up for Malik Nabers or Brock Bowers. It is unclear what Indy offered, but it would have cost plenty — likely a future first — for the team to leapfrog the Giants for Nabers. It is worth wondering if the Colts called the Cardinals or Chargers, who respectively dangled Nos. 4 and 5. Neither team is believed to have received a big offer, however, and the Colts tabled their WR interest until Day 2.

Latu comes to Indianapolis after rebooting his career at UCLA. The Washington recruit completed a medical retirement before rocketing back to gridiron relevance in L.A., rebounding from his neck injury to record 23.5 sacks and 34 tackles for loss over the past two seasons. Latu became the final Pac-12 Defensive Player of the Year in the process and booked meetings with several teams. Thanks to the runs on quarterbacks and tackles, the Colts acquired a potential impact defender at 15.

Indy hosted Xavier Worthy on a pre-draft visit but ended up with the other Longhorns receiver prospect. Mitchell, who transferred from Georgia last year, did not put up big numbers until his lone Texas season. But he followed an 11-touchdown, 845-yard showing alongside potential 2025 first-rounder Quinn Ewers with an impressive Combine. Mitchell checking in at 205 pounds and clocking a 4.34-second 40-yard dash made him some money after a belated college emergence.

The Colts now have three second-round picks (Pittman, Mitchell, Alec Pierce) and a third-rounder (Josh Downs) among their receiving corps. This long-Pittman-dependent group now features as much depth as it has since maybe the short Hilton-Reggie Wayne years. As Indy’s WRs coach, Wayne will now attempt to develop the rookie-contract players. With Indy not having much of note at tight end, its receivers will need to do most of the heavy lifting when it comes to assisting Richardson through the air.

Mitchell and Pierce are set to compete for a starting role, with the 2022 second-rounder potentially set to relegate the rookie — for the time being, at least — to a WR4 role. The Colts now have their top four wideouts signed through at least 2025, with Pittman, Pierce and Mitchell all inked through at least 2026.

After moving down six spots in the second round, the Colts traded up three positions for Goncalves in Round 3. The Colts may have obtained Goncalves at a discount; the Pitt tackle prospect went down three games into his final college season. The team has placed 2022 third-rounder Bernhard Raimann as its left tackle, after struggling to fill Anthony Castonzo‘s post for a bit. Indianapolis received a breakthrough year from Raimann, with PFF slotting both he and Braden Smith the top 10 at tackle. The high-priced RT did miss seven games due to injury, however. For now, Goncalves qualifies as swing depth.

Other:

QB Anthony Richardson resumes throwing, to be ready for training camp
Exercised DE Kwity Paye‘s $13.4MM fifth-year option
Looked into trade for CB L’Jarius Sneed
TE Andrew Ogletree removed from commissioner’s exempt list
Signed QB Kedon Slovis, six other UDFAs

Luck retired due to the injuries he suffered; the shoulder malady that forced the former Colts franchise QB to miss all of 2017 initially occurred in 2015. Not wanting a repeat, the team shut down Richardson after it initially looked like the rookie could return later last season. But shoulder surgery transpired, capping the dual threat’s season at 173 snaps. Richardson resumed throwing in February and participated in the team’s offseason program. Though, some concern understandably emerged after the team shelved Richardson during part of its minicamp due to shoulder soreness.

Ballard said Richardson would be full-go at camp, as the Colts — and legions of fantasy GMs — wait to see what the tantalizing prospect can put together once deployed for a lengthy stretch. But the 244-pound passer suffered injuries in three of his four games last season. The concussion and shoulder ailment came on scrambles.

With the Colts eyeing Richardson because of the run-pass skillset he displayed during his one SEC starter season, it may come down to him being more cautious when he takes off. Curtailing Richardson’s run-game abilities, as he was merely a 53.8% passer during his Gators QB1 slate, would seem counterproductive.

But Richardson’s health may be the central Colts storyline heading into the season. The team approached an NFL record by starting seven Week 1 quarterbacks in seven seasons from 2017-23, with veteran stopgaps either retiring (Philip Rivers) or being jettisoned (Carson Wentz, Matt Ryan). Using the Jeff Saturday debacle as a chance to draft a QB in the top five, Ballard will see his job security hinge on Richardson. How he fares this season will play a key role in the decision-maker’s future.

Paye’s fifth-year option loomed as perhaps the toughest call to predict among the 2021 first-rounders, but the Colts now have him tied to two more fully guaranteed seasons. This gives Paye more time to develop after an inconsistent start to his career. While the Michigan product registered a career-high 8.5 sacks last season, those came on just 10 quarterback hits. Paye combined for only 18 QB hits from 2021-22. No extension talks have taken place, and Paye is not too eager to sign one. It will take a bump in production for Paye to command a lucrative second contract, and he is content on delivering that — as a better deal would undoubtedly await.

Latu’s arrival crowds Indianapolis’ DE group, though Odeyingbo is in a contract year. With Ebukam not tied to any guaranteed money over his $8MM-per-year deal’s final two seasons, the Colts will have some flexibility at DE. Latu and Paye’s contracts make them the building blocks here.

The Colts were among the many teams to look into L’Jarius Sneed‘s market, but it does not appear the franchise-tagged Chiefs corner generated too much interest. It took only a 2025 third for the Titans to acquire Sneed, and they then needed to give the latest one-contract Chiefs CB an extension that set a position record for guarantees at signing ($51.5MM). The Colts passing on that is understandable given Ballard’s hesitancy about paying outside talent big money, but the team has issues at both boundary corner posts.

JuJu Brents appears poised to start alongside Moore; the 2023 second-rounder missed eight games last season. Low-level investments Dallis Flowers (UDFA, 2022) and Jaylon Jones (Round 7, 2023) are vying for the other perimeter job. With Stephon Gilmore familiar with Bradley’s system after excelling as a 2022 rental, a reunion would be logical as a stopgap measure. Adoree’ Jackson, ahead of his age-29 season, also remains available for a Colts team that could use one more piece in the secondary.

Top 10 cap charges for 2024:

Quenton Nelson, G: $25.2MM
Michael Pittman Jr., WR: $18MM
Braden Smith, RT: $16.68MM
Ryan Kelly, C: $14.63MM
Jonathan Taylor, RB: $10.67MM
Grover Stewart, DT: $10.32MM
Zaire Franklin, LB: $8.61MM
DeForest Buckner, DT: $8.35MM
Samson Ebukam, DE: $7.94MM
Anthony Richardson, QB: $7.73MM

The Colts led the NFL with seven Pro Bowlers in 2021; Wentz’s issues derailed that otherwise well-built team. The Jim Irsay-driven Ryan trade in 2022 backfired quickly to drain another year from the veteran core’s primes, and the team went through a mostly Minshew-fronted ’23 slate. Many of Ballard’s pieces have been around a long time, making this offseason’s extensions and re-signings more interesting given how long it has been since the Colts made the playoffs. Time is running out for this collection to contribute to a true contender.

As it goes in the NFL, this Colts chapter will largely hinge on Richardson’s performance upon return from surgery. The unseasoned passer needing extensive development would not match up, timeline-wise, with the roster Ballard has built. Set to compete in an AFC South that appears friskier compared to most seasons in the division’s recent history, the Colts are banking on Richardson being a quick success story. This season will go a long way toward determining if their blueprint makes sense.

Largest 2024 Cap Hits: Defense

July 17th, 2024 at 2:37pm CST by Sam Robinson

As veteran report dates for training camps near, NFL payrolls are largely set. Extension- and trade-related matters remain, but as far as high cap numbers go, the list will not change much between now and Week 1. After we ran down the top cap charges on the offensive side of the ball last week, here are the highest 2024 figures tied to defenders:

Maxx Crosby, EDGE (Raiders): $30.48MM
T.J. Watt, EDGE (Steelers): $30.42MM
Kenny Clark, DL (Packers): $27.49MM
Joey Bosa, EDGE (Chargers): $26.11MM
Khalil Mack, EDGE (Chargers): $25.39MM
Montez Sweat, EDGE (Bears): $25.09MM
Harold Landry, EDGE (Titans): $23.8MM
Jaire Alexander, CB (Packers): $23.49MM
Marlon Humphrey, CB (Ravens): $22.88MM
Tremaine Edmunds, LB (Bears): $22.44MM
Cameron Heyward, DL (Steelers): $22.41MM
Jeffery Simmons, DL (Titans): $21.65MM
Daron Payne, DL (Commanders): $21.61MM
Jonathan Allen, DL (Commanders): $21.44MM
Minkah Fitzpatrick, S (Steelers): $21.36MM
Vita Vea, DL (Buccaneers): $20.97MM
DeMarcus Lawrence, EDGE (Cowboys): $20.46MM
Quinnen Williams, DL (Jets): $20.4MM
Grady Jarrett, DL (Falcons): $20.38MM
Myles Garrett, EDGE (Browns): $20.17MM
Trey Hendrickson, EDGE (Bengals): $20.17MM
Derwin James, S (Chargers): $19.86MM
Budda Baker, S (Cardinals): $19.03MM
Charvarius Ward, CB (49ers): $18.4MM
Marcus Williams, S (Ravens): $18.03MM

While a handful of quarterbacks are set to break the single-player record for cap hit — after this offseason’s $30.6MM cap spike — this year’s defensive hits do not check in on that level. Crosby and Watt are at $30MM, but those numbers do not match last year’s top defender cap hit — attached to then-Giants D-lineman Leonard Williams ($32.26MM). With Aaron Donald now in the dead money category following his retirement and Chris Jones extended, some new faces have climbed toward the top of this list.

The Raiders gave Crosby a $6MM 2024 pay bump to reward a former Day 3 pick who has unlocked another level while attached to an extension signed in 2022. Rather than greenlight a new deal for their top defender, the Raiders moved money around on his through-2026 extension to accommodate a rising market. This season now marks the highest cap hit on this Crosby contract.

Although the Chargers worked out pay-cut agreements with Bosa and Mack, both edge rushers are still among the most expensive — cap-wise — players in the league. The March reductions, however, moved Bosa’s cap number down from $36.6MM and lowered Mack’s from $38.5MM. With James tied to the second-highest 2024 safety figure, Jim Harbaugh‘s team — while clearing out costs on offense — remains among the top defensive spenders.

Two years remain on Watt’s deal, which has paid out its guaranteed money. With Nick Bosa having secured a defender-record extension and lower-production players — compared to Watt, at least — Brian Burns and Josh Allen surpassing the future Hall of Famer’s 2021 extension, a third Steelers-Watt agreement will likely be rumored soon. Heyward has expressed interest in a fourth Steelers contract, which would reduce his lofty cap figure, but the accomplished veteran has not heard much from the team’s side on this matter.

The Packers have begun talks with Clark on what would be a third extension. His current $17.5MM-per-year contract has fallen to 15th among active D-linemen. A new deal would update that figure for a reliable starter while reducing his 2024 cap hit. Despite rumors about the Pack separating from Alexander coming out in December, GM Brian Gutekunst shot down any such move associated with the league’s highest-paid corner.

Baker requested a trade last year, eyeing a deal closer to the James-Fitzpatrick level. The longtime Cardinal DB is in the final year of an extension agreed to back in 2020. Although the Cardinals are rebuilding, Baker has remained part of Jonathan Gannon‘s team. He expressed hope to stay in Arizona beyond 2024, and the Cardinals have the contract-year safety — the team’s longest-tenured starter, now that D.J. Humphries is off the roster — on the team going into his age-28 season.

PFR Originals: Raiders, Chiefs, Judon, GMs

July 16th, 2024 at 5:31pm CST by Adam La Rose

Here is a rundown of PFR’s latest original content:

Sam Robinson continued our Offseason in Review Series with a recap of the Raiders’ moves this spring. Las Vegas owner Mark Davis followed the recommendations of his top players by removing the interim title for head coach Antonio Pierce in addition to hiring Tom Telesco as general manager. That pair will oversee the team’s efforts to return to the postseason on the backs of an improved defense (which includes free agent signing Christian Wilkins) and a different QB under center than the start of the 2023 campaign when Jimmy Garoppolo operated as the starter.
Sam’s latest Offseason in Review installment looked into the Chiefs. Kansas City won a second straight Super Bowl in 2023, but a number of moves at the receiver position were deemed necessary. The team’s defense managed to retain Chris Jones on a big-money deal, though in light of that commitment L’Jarius Sneed was tagged-and-traded to the Titans. Patrick Mahomes and Travis Kelce each saw adjustments made to their contracts as they prepare for another year as the team’s offensive pillars.
Regarding the Raiders’ QB situation, I polled readers about the competition for the QB1 gig which is set to take place between Aidan O’Connell and Gardner Minshew. O’Connell was installed as starter once Pierce took over from Josh McDaniels last season, and he delivered strong (if unspectacular) results down the stretch during his rookie campaign. Vegas showed considerable interest in drafting a Day 1 signal-caller this spring, but with that not coming to fruition Minshew has a chance to win the top spot. The veteran (attached to a $25MM deal) received a clear majority of votes over O’Connell ahead of training camp.
The Cowboys have a number of important financial decisions to make in the near future on the contract front. In the latest Community Tailgate, Sam explored the status of Dak Prescott, CeeDee Lamb and Micah Parsons. The former two are pending free agents while the latter is under contract through 2025. All three will need deals at or near the top of their respective markets, something which would considerably complicate Dallas’ cap outlook. Replacing one or more, meanwhile, could prove to be challenging.
Plenty of uncertainty surrounds Matt Judon‘s future with the Patriots. The four-time Pro Bowler has one year remaining on his deal, and mixed signals have emerged with respect to whether or not a new agreement will be reached. Ben Levine broke down Judon’s situation in our latest Extension Candidate effort; the Patriots have handed out numerous new deals to in-house players this offseason, but it remains to be seen if they will do so with Judon.
With the salary cap experiencing an historic one-year jump, individual cap charges continue to reach unprecedented heights. I looked at the top charges on the offensive side of the ball, a group which is of course dominated by quarterbacks. Seven receivers and six offensive linemen are also at the top of the pecking order, though, an illustration of how those positions have been valued in recent years.
The 2024 offseason saw a number of changes in the front office. Five teams have a new general manager (in title and/or in practice), the Patriots being among them. With Bill Belichick no longer in place as New England’s top decision-maker, Mickey Loomis (Saints) now resides as the league’s longest-tenured pure GM. Sam charted where each team stands in that respect after the moves made over the past few months.
Rises in the salary cap ceiling have of course aided the career earnings of modern NFL players. Ben listed the 25 highest-paid players in league history in terms of on-field compensation. Save for Aaron Donald (who retired this offseason), each member of the group is still active, and as such they will add further to their earnings for at least one more campaign.

5 Key Stories: 7/7/24 – 7/14/24

July 14th, 2024 at 4:46pm CST by Adam La Rose

With training camps just around the corner, the NFL’s offseason period has nearly come to an end. Recent days have already seen a few notable developments, however. In case you missed anything from the past week, here is a quick recap:

Steelers’ Sutton Receives Eight-Game Suspension: Cameron Sutton was released by the Lions after it was learned an arrest warrant had been issued for domestic battery. The veteran corner later reunited with the Steelers after he entered into a pretrial diversion program while an NFL investigation took place. That process has yielded an eight-game suspension for a violation of the league’s personal conduct policy. The 29-year-old served as a starter at the end of his first Steelers stint and handled first-team duties in Detroit last season, but his role once available will be interesting to monitor. Sutton – who signed for the league minimum upon returning to Pittsburgh – will not appeal the ban, confirming he will not be able to make his season debut until Week 10.
Higgins To Play On Bengals Tag In 2024: Tee Higgins resided as the only player who received a franchise or transition tag this offseason who had yet to sign a long-term deal. The deadline for he and the Bengals to work out such an agreement is Monday, but it is set to pass without an extension in place. As a result, Higgins will (as expected) enter the 2024 campaign as a pending free agent. The former second-rounder will collect $21.82MM this season before receiving a second tag or testing the market. Higgins, 25, submitted a trade request this offseason before publicly admitting he expected to remain in Cincinnati for one more year. The Bengals (a team with a monster Ja’Marr Chase extension still to navigate) are not believed to have engaged in Higgins negotiations for more than one year, with a market-level offer yet to emerge. A 2025 departure remains a distinct possibility in this case.
Adams Lands Titans Deal: A number of veteran safeties are still on the market, but Jamal Adams is not one of them. The former All-Pro (who was released this spring by the Seahawks) signed a one-year Titans deal. That pact carries a value of $1.13MM, a stark contrast to the $17.5MM annual value of his Seattle contract. Adams has been limited to 10 games over the past two seasons due to injuries, and his value moving forward will be determined in large part by his ability to remain healthy in 2024. He is confident that will be possible, and by signing with the Titans the three-time Pro Bowler will reunite with defensive coordinator Dennard Wilson after the pair worked together with the Jets. That familiarity could produce a bounce-back campaign.
No Extension Imminent For Patriots, Judon: The Patriots have continued negotiating an extension with edge rusher Matt Judon, and an offer was recently submitted. No agreement is considered imminent, however, with the four-time Pro Bowler indicating he does not expect a deal to be worked out in the near future. One year remains on Judon’s contract, one which falls well short of the top of the edge market. He has proven to be a highly impactful player when healthy in New England, but in 2023 he was limited to four contests. The Patriots have retained a number of in-house players this offseason, but approaching his age-32 season Judon represents an interesting case study in that regard. Regardless of how extension talks go in the near future. Judon is not expected to hold out during training camp.
Texans Re-Sign Hughes: The Texans added Jerry Hughes in 2022, and he has logged 18 starts since then. The 35-year-old saw a dip in playing time last season, but he nevertheless elected to sign a new Houston deal. Hughes is likely to shoulder a rotational workload along the edge in 2024 as the Texans signed Danielle Hunter in free agency to replace Jonathan Greenard. Hunter and Will Anderson should take on starter’s roles, but Hughes could chip in on a rotational basis. The latter had the second most productive season of his career in 2022 with nine sacks, and he has remained durable deep into his NFL tenure. As the Texans approach 2024 with high expectations, Hughes will collect as much as $2.6MM on his latest deal.

NFL Active Leaders In Career Earnings

July 13th, 2024 at 10:00pm CST by Ben Levine

Kirk Cousins‘ four-year, $180MM deal with the Falcons this season vaulted him up the list of active career earners. This was by virtue of his $50MM signing bonus, adding to the more than $231MM he earned from the Commanders and (mostly) the Vikings throughout his career. Even under the worst-case scenario, Cousins will still see at least another $50MM come his way via his contract with Atlanta, which would push his career earnings north of $331MM.

While the soon-to-be 36-year-old Cousins will surely see a significant portion of the $80MM worth of unguaranteed money on his contract, he’ll still be hard pressed to catch Aaron Rodgers on the career-earnings list. Rodgers earned more than $306MM during his long tenure in Green Bay, and he’s already made close to $37MM during his one season in New York (mostly via the $35MM signing bonus on his reworked pact).

With at least $40MM of additional guarantees coming his way from the Jets, Rodgers will continue to grow his lead as the highest-earning NFL player of all time. Both Rodgers and Matthew Stafford were able to leap Tom Brady among the NFL’s highest all-time earners over the past year.

With all that said, we’ve listed the 25 active players who have earned the most money in their NFL careers (h/t to OverTheCap.com). While this list is up to date, it doesn’t account for soon-to-realized salaries for the 2024 campaign. This list is also solely focused on NFL cash and does not include off-the-field earnings:

QB Aaron Rodgers: $343MM
QB Matthew Stafford: $328MM
QB Russell Wilson: $305MM
QB Kirk Cousins: $281MM
QB Jared Goff: $234MM
LB Von Miller: $179MM
QB Joe Flacco: $177MM
OT Trent Williams: $171MM
QB Derek Carr: $165MM
LB Khalil Mack: $162MM
QB Dak Prescott: $161MM
DL Aaron Donald: $157MM
QB Jimmy Garoppolo: $150MM
DE Calais Campbell: $143MM
QB Deshaun Watson: $142MM
QB Patrick Mahomes: $136MM
DE Joey Bosa: $134MM
DL Leonard Williams: $134MM
WR Mike Evans: $132MM
QB Carson Wentz: $130MM
WR DeAndre Hopkins: $128MM
WR Stefon Diggs: $126MM
DE Cameron Jordan: $126MM
OT Lane Johnson: $121MM
DT Chris Jones: $120MM

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