NFL Free Agency: A Crazy Monday Full of Tags, Trades & Signings

Perhaps you've heard the goofy saying that there's "no such thing as an offseason" in the NFL. Technically, it isn't true, but it does serve to make a point about the never-ending appetite to report and consume news — or even just rumors — involving North America's most popular professional sports league.

NFL "news" keeps going even when there's nothing actually happening, so maybe we shouldn't be surprised that the league is taking a business-as-usual approach to its offseason schedule while the rest of the world grinds to a halt for Covid-19. At least for now, everything is proceeding as originally planned, with Monday at 12 p.m. ET marking the deadline to apply franchise tags and the beginning of the "legal tampering" period. 

Most players can't officially sign with new teams until Wednesday at 4 p.m. ET, but many of the moves will be verbally agreed upon before that time. Monday brought more big news than anyone could've expected, including a trio of blockbuster trades, a glut of franchise/transition tags and a few early reports of signings that won't be official until later this week. Even RG3 is impressed!

The Tags

History suggests most of these guys will end up signing long-term contracts before the July 15 deadline, but there does seem to be an unusual amount of tag-and-trade speculation this offseason, namely involving Jaguars DE Yannick Ngakoue, Ravens OLB Matt Judon and Patriots G Joe Thuney. I'll also add Chiefs DL Chris Jones and Vikings S Anthony Harris as trade candidates, if only because their respective teams are loaded with pricey stars. Personally, I think it would be crazy for a team with back-to-back Super Bowl aspirations to trade a player like Jones, who is probably the second- or third-best interior pass rusher in the league.

With 15 of 32 teams using a tag this offseason, we'll limit our discussion in this space to the skill position players on offense:

QB Dak Prescott, Dallas Cowboys

There was never any chance of Prescott being permitted to leave Dallas, and the team even went the extra mile in using an 'exclusive' tag instead of the 'non-exclusive' option. The latter allows other teams to submit offer sheets, with the drawback of giving up two first-round picks if the original team doesn't match. The exclusive tag, on the other hand, doesn't allow for offer sheets but comes at a higher cost: approximately $31.6 million, compared to $26.8 million for the non-exclusive option. The Cowboys probably don't care about putting the extra $4.8 million on their books, as the franchise tag eventually figures to be replaced by a long-term deal.

Amari Cooper now has an opportunity to hit the open market, as the option for Dallas to use both a franchise tag and transition tag was erased when the NFLPA accepted a new CBA over the weekend. The Cowboys hope to re-sign Cooper before Wednesday, but that doesn't mean it will be a successful endeavor.

UPDATE: The Cowboys and Cooper reportedly agreed to a five-year, $100 million contract late Monday night.

RB Kenyan Drake, Arizona Cardinals

Drake gets the seldom-used transition tag, which allows the Cardinals to match any contract offer but doesn't provide draft-pick compensation if they decline. The team traded David Johnson to Houston shortly after applying the tag, providing a second strong hint that Drake will be back in the desert. I guess it's possible for some team to swoop in and pay the 26-year-old far more than he's worth, but the Cardinals presumably intend to match any offer that looks reasonable. With DJ gone and DeAndre Hopkins giving Kyler Murray a legit No. 1 receiver, Drake could push for second-round consideration in fantasy drafts as the locked-in lead back for a promising, fast-paced offense.

WR A.J. Green, Cincinnati Bengals

Green (ankle) is entering his age-32 season after playing nine games in 2018 and zero in 2019. I'm not sure he'd get franchise-tag-type money on the open market, so he might be the one player who is actually happy about being tagged. That said, Green has made multiple comments about wanting to finish his career in Cincinnati, likely preferring a multi-year contract rather than the one-year arrangement.

RB Derrick Henry, Tennessee Titans

This was a given as soon as Ryan Tannehill signed a four-year, $118 million contract. Henry and the Titans presumably will go back and forth on long-term offers, and I won't be surprised if it gets ugly. Tennessee will be well aware of the terrible track record of second contracts for running backs, while Henry likely expects a deal that's commensurate with his importance to the 2019 playoff squad. If recent history is any indication, the Titans will sign him to a big contract to keep the peace but end up regretting it within a few years. Then again, another year or two of peak Henry might be worth some dead-cap pain down the road.

TE Hunter Henry, Los Angeles Chargers

Double-H technically got the tag a few days ago, but we might as well mention him while we're here. The Chargers have plenty of cap space, so I imagine they'll work out a long-term deal for their 25-year-old tight end. He plays a high-injury-risk position and has already missed 23 games, but Henry's combination of efficient pass catching and competent blocking is worth $10 million-plus per year even if you build some injuries into the equation. The big question for fantasy purposes is whether he'll be catching his passes from Tyrod Taylor, Justin Herbert, Tom Brady or someone else?

The Trades

WR DeAndre Hopkins, Arizona Cardinals

RB David Johnson, Houston Texans

My leading theory here is that Bill O'Brien made this trade during a drug-induced blackout. There's a pretty consistent pattern of BOB giving up too much and getting too little in trades, but this one truly goes above and beyond. Rotowire's Mario Puig covered the impact of this trade in more detail, so I'll just stick to the basics:

• Kyler Murray: ⬆️⬆️
• Kenyan Drake: ⬆️ Now has less carry competition in a better offense.
• Chase Edmonds: ⬆️ Handcuff Hype!
• DeAndre Hopkins: 🤷‍♂️ Dude is gonna eat anywhere.
• Christian Kirk, Larry Fitzgerald, Andy Isabella: ⬇️ but I'm not actually too worried. AZ was always going to add a WR this offseason, and now the offense has juggernaut upside. I guess Isabella becomes a tough sell outside of dynasty...
• Deshaun Watson: ⬇️
• Duke Johnson:  ⬇️ because nobody will ever give him the work he deserves.
• David Johnson ⬆️ as in WASHED UP, but also UP because O'Brien will give DJ the ball too much.
• Kenny Stills, Will Fuller: ⬆️, but don't be surprised if O'Brien tries to trade both of them for a backup DT and two bottles of hand sanitizer.

UPDATE: The Texans signed Randall Cobb to a three-year contract late Monday night.  

TE Hayden Hurst, Atlanta Falcons

Hurst, who will be 27 years old for his third pro season, couldn't have asked for a better opportunity. He woke up Monday as the No. 3 tight end in a run-first offense, and went to bed as the No. 1 guy for a team that throws for more than 4,500 yards every year. Hurst won't win as many games in Atlanta, but the increase in targets will give him a better chance to earn a big second contract. Meanwhile, my optimism about Jaeden Graham appears to have ben short-lived.

There's also some impact on Baltimore, considering Hurst got 457 offensive snaps and 39 targets in 16 games last year. Don't dismiss the possibility of Mark Andrews taking over some of that work....he actually played the exact same number of snaps as Hurst last season, limited by knee and ankle injuries at times.

The Signings 

TE Austin Hooper, Cleveland Browns

NFL Network's Ian Rapoport is reporting this as a four-year, $42 million contract with $23 million guaranteed, while other outlets put the number at $44 million. Either way, it's a new standard among tight ends in terms of both guaranteed money and average annual value, largely because Zach Ertz and Travis Kelce re-signed early on team-friendly deals a few years back. George Kittle will sign a far larger contract either this offseason or next, and even Hunter Henry may get a bigger deal soon enough.

I don't doubt that Hooper and David Njoku can coexist in some fashion, but would the Browns really give this much money to the former if they had faith in the latter? The best-case scenario for Njoku's dynasty owners is a trade, as there's zero chance a team with Odell Beckham, Jarvis Landry, Nick Chubb and Kareem Hunt can also support two fantasy-viable tight ends. I'm more agnostic on Hooper, who at least should be guaranteed plenty of snaps and five or six targets per week. Just remember that he's solid, not special, so he could end up TD-dependent if Beckham and Landry are healthy and humming.

TE Jimmy Graham, Chicago Bears

ESPN's Adam Schefter is reporting a two-year, $16 million contract with $9 million guaranteed. I'm sure we'll eventually see stories about how Graham just needed a change of scenery, but anyone with a decent pair of eyes can tell you the 33-year-old is washed up — it doesn't matter if there's a G or a C on his helmet. Gross contract, gross Chicago offense. Do not understand. F- grade.

TE Blake Jarwin, Dallas Cowboys

Jarwin received a second-round RFA tender that quickly became irrelevant after he signed a four-year contract. Initial reports suggested a three-year, $24.25 million deal, but Aaron Wilson of the Houston Chronicle is reporting it as a total of four years and $22 million, with only $6.75 million fully guaranteed. Even at the smaller figure, it's a strong indicator Jarwin will replace Jason Witten as the Cowboys' top tight end — something I wrote about a couple weeks ago.

The Cuts

RB Devonta Freeman, Free Agent

The Falcons also cut top cornerback Desmond Trufant, potentially freeing up more than $17 in cap room if both players are released with the post-June 1 designation. This is disappointing but perhaps expected for Freeman's fantasy owners, who surely were hoping he'd get another year with the starting job in Atlanta. Instead, the 28-year-old likely will end up joining a backfield where he isn't the only decent player.

S Morgan Burnett, Free Agent

I called this section 'The Cuts', rather than 'The Cut'. It felt weird to change it, so instead I've added a second player that nobody cares about. Burnett, a former IDP superstar, was released by the Browns on Monday after a torn Achilles sent him to injured reserve in November.

The Rumors

NFL.com's Ian Rapoport reports the Colts are talking to Philip Rivers, who may have limited options with the Bucs focused on a different veteran QB.

Speaking of which... Tom Brady is expected to choose between the Bucs, Patriots and Chargers, per Rapoport.

Albert Breer can be annoying, but he does make a good point that the Pats aren't acting like a team that expects to lose its veteran quarterback:

UPDATE: Brady isn't going to re-sign with New England! 

The Bears are trying to trade for Andy Dalton or Nick Foles, per ESPN.com's Ed Werder. Other rumors suggested Teddy Bridgewater might sign with Chicago, but NFL Network's Mike Garafolo shot down those reports.

The Colts could also have interest in Foles, if they fail to sign Rivers, according to Jason La Canfora of CBS Sports.

Garafolo reports the Raiders are close to signing Marcus Mariota, who presumably would slide in behind Derek Carr as a high-end backup. Given Carr's solid track record of durability, I'm not sure why Oakland would spend big on a No. 2 QB.

Stefon Diggs, the king of cryptic tweets, seems to be hinting that the longstanding trade rumors will finally come to fruition. I still can't tell if he's serious or just enjoys messing with people...

UPDATE: Diggs was traded to the Bills late Monday night. We'll discuss that, and more, tomorrow.

The Giants are talking to Jadeveon Clowney, per Art Stapleton.

Haven't heard much on Jameis Winston... it seems like every QB-needy team views him as a Plan B/C. The Bucs certainly seem to want Brady.

Defensive Players, Extensions & More

(Is this why Diggs was salty?)

The 49ers kept the lesser player over the better one, but it saved them a few million per year and also netted a top-15 draft pick. Remember that they have Nick Bosa and Dee Ford coming off the edge, which allows Armstead to work as an interior rusher. It's still a great pass rush, but it was better with Buckner and Armstead next to each other. Also, I'm a psychic.

(Looks like the Browns are all-in for the upcoming season...again!)

Not sure I understand the second-round tender. Would anyone have given up a third-round pick for the right to give Hunt a large contract? Wouldn't the Browns be happy to take that pick anyway? Maybe I'm underestimating his talent, or overestimating the probability of future incidents off the field.

A first-round tender seems like overkill, but it's certainly good news for any dynasty owners who are hoping rumors about Hill being viewed as the "heir apparent" to Drew Brees are accurate.

Who else is on board for the Vance McDonald breakout, but this time for real? No, really, it's gonna happen this time.

The Ravens traded for Calais Campbell and signed Michael Brockers to a three-year contract. As a Ravens fan, I'm hoping Stefon Diggs is around the corner... but I doubt it. Regardless, I'm happy with the early returns this offseason.

I see what the Packers are doing, but I'm not sure 36-year-old Aaron Rodgers will be so happy to accept 2020 downgrades in the name of future cap space and draft picks.