Transactions News & Rumors

9:59pm: Tennessee is set to pay $2.5MM of Hopkins’ remaining base salary, Rapoport tweets. This will cover roughly half of Hopkins’ remaining total. The $2.5MM will be paid out as a signing bonus, according to NFL.com’s Tom Pelissero.

As far as conditions go, the Chiefs will need to qualify for Super Bowl LIX with Hopkins playing 60% of the snaps during the regular season for the pick to climb from a fifth- to a fourth-rounder.

7:15am: The wide receiver market’s latest domino involves the two-time reigning Super Bowl champions. Decimated at the position, the Chiefs are making their move. They are expected to acquire DeAndre Hopkins from the Titans, ESPN.com’s Adam Schefter reports.

Kansas City pursued Hopkins via trade and made a free agency offer — once the Cardinals ended up cutting him — in 2023. The team will circle back to the decorated pass catcher, with NFL.com’s Ian Rapoport reporting Kansas City is sending a conditional fifth-round pick to Tennessee for Hopkins. Should conditions be met, Tennessee’s pick can rise to a fourth. A Super Bowl appearance will likely factor into the conditions, SI.com’s Albert Breer tweets.

Cooper Kupp also came up during the Chiefs’ WR search, per The Athletic’s Dianna Russini, but financial issues impeded them regarding a deal with the Rams. The Chiefs, who sit in the bottom quartile in terms of cap space ($4.16MM entering Wednesday), required a team who would take on a departing player’s salary to fill their receiver need. The Titans are expected to eat some of Hopkins’ salary, Russini adds. It does not appear the Rams are prepared to eat a significant chunk of Kupp’s 2024 base.

The Chiefs were again connected to Hopkins recently, and it appears the Titans will pay some of the veteran’s prorated base salary to acquire the Day 3 pick. A $4.86MM tab remains on Hopkins’ 2024 base on a two-year, $26MM deal — one that proved too rich for the Chiefs during their 2023 free agency pursuit. Still finalizing the deal, the Chiefs are preparing to have Hopkins in uniform for their Week 8 Raiders matchup, Russini adds.

Hopkins, 32, has struggled to establish consistency this season. But that has been an issue across the Titans’ pass offense, as big-ticket free agency pickup Calvin Ridley has also failed to produce much in the way of consequence in a Tennessee passing attack featuring Will Levis and Mason Rudolph at the controls. Hopkins has 15 receptions for 173 yards and one touchdown this season.

Although the Chiefs did extensive work on Hopkins in 2023, Rapoport indicates this trade did not gain steam until early this week. The team was targeting a player who could help inside and in the red zone, NFL Network’s Peter Schrager reports. A player who thrived on contested catches at his peak, Hopkins is not at this Texans-era apex any longer. But he has 79 career TDs and is coming off a 1,000-yard season.

Down both Rashee Rice and Marquise Brown for the season, the Chiefs had been reliant on players they reacquired. JuJu Smith-Schuster and Mecole Hardman played roles for the depleted WR cadre, but the former is now down with a hamstring injury. The Chiefs’ Xavier Worthy first-round pick has delivered flashes, but the Texas-developed speedster has not offered consistency yet. Hopkins will stand to help the team in that department, providing help as a possession receiver to help free up the likes of Worthy and Travis Kelce.

This move comes barely a week after the Jets and Bills made their WR strikes, with both Davante Adams and Amari Cooper heading to New York. Carrying a lower ceiling at this point in his career, Hopkins will change teams for a lower price. Having battled injuries since his second Cardinals season, the three-time first-team All-Pro missed several weeks with a knee malady this summer. Hopkins, however, returned in time for Week 1 and has not missed a game. Considering the Chiefs’ in-house injury problems, it is clear they feel confident their new piece can stay healthy.

Hopkins loomed as a bigger trade piece in 2023, when countless rumors emerged about the receiver amid a Cardinals regime change. The former Texans star had loomed as a player the Monti Ossenfort-led front office was set to move on from, and the Chiefs came up on Hopkins’ list of preferred destinations. The Chiefs discussed Hopkins with the Cardinals, joining the Bills in that regard. But those talks broke down for salary reasons. Hopkins, who had signed a $27.5MM-per-year extension with the Cards, became unwilling to discuss taking a pay cut to facilitate a trade upon learning the Ravens gave Odell Beckham Jr. a fully guaranteed $15MM. The Cardinals then cut him.

While the Chiefs did not join the Titans and Patriots in hosting Hopkins as a free agent last summer, they made an offer. The allure of playing with Patrick Mahomes did not supersede what was viewed as a far superior Titans proposal, with Hopkins signing a two-year, $26MM deal with the then-Mike Vrabel-led Titans. Kansas City and New England are believed to have offered incentive-laden deals that came in well short of where Tennessee did.

Hopkins joined a team then quarterbacked by Ryan Tannehill, but the Titans quickly geared their mission around Levis. Hopkins played a central role in Levis’ rookie-year development, and despite the second-round pick struggling, his top receiver cranked out a seventh 1,000-yard season. Hopkins totaled 1,057 yards last year. This was off the pace he had set in Houston and during his first Arizona season, but the four-contract player — initially a 2013 Texans first-round pick — showed he could still contribute. Hopkins played all 17 games last season, representing an important selling point.

Benching Tannehill during what turned out to be Vrabel’s final season, the Titans heard from teams on Hopkins before last year’s deadline. They passed on moving both he and Derrick Henry. After Henry walked in free agency, the Titans again received interest on their oldest wide receiver. Hopkins had expressed a desire to finish his career in Tennessee, and the Titans were not believed to be shopping him. But they will move on from the contract-year player for a late-round pick.

The Rams are seeking a second-rounder for Kupp, who is only one year younger than Hopkins. Kupp, however, produced one of the greatest seasons in wide receiver history in 2021 and has been highly productive when healthy since. The latter caveat, coupled with a higher salary, will hurt the Rams’ negotiating position. The Titans have Ridley on a four-year, $92MM deal; the 1-5 team will keep building around around the recent free agency addition while saying goodbye to their 2023 free agent prize.

This marks the third straight year the Chiefs have acquired a wideout via trade in-season. Their Kadarius Toney swing ultimately backfired, despite a Super Bowl-record punt return, with the team cutting the shifty but unreliable ex-first-rounder in August. Hardman delivered the Super Bowl LVIII walk-off touchdown and re-signed with the team. The Chiefs will likely continue to involve Hardman in their offense, but the still-Kelce-centered passing attack will now heavily feature Hopkins alongside Worthy.