NFL free agency - Day 2: Live analysis for all major moves
The NFL offseason is kicking into high gear. Follow along for live analysis of all major transactions over the course of the league's free-agent negotiation period from Monday through Wednesday.
Day 1 | Day 2
✍️ Bills sign Joey Bosa
1-year, $12.6M deal
There won't be a family reunion in San Francisco after all. Bosa playing with his brother was a fun thought after he got his release from the Chargers. And the 49ers parting ways with Leonard Floyd earlier in the day appeared to open the door for such a move. But there was always going to be a competitive market for a pass-rusher with this kind of talent, even with his injury history. The Bills are a fascinating fit. Improving the pass rush was a must heading into this offseason, and that was before the team opted to cut ties with Von Miller. Bosa can be the third-down game-wrecker Buffalo needs if he can stay on the field. At this price, it's a sensible bet to make.
✍️ Ravens sign DeAndre Hopkins
1-year, $5M deal
The Ravens have a new receiver. Hopkins isn't the game-changer he once was, but he doesn't need to be in this offense. Zay Flowers is the clear No. 1, and Rashod Bateman is trending toward being a legitimate secondary target after a nine-touchdown breakout season. Tight ends Mark Andrews and Isaiah Likely should also continue to have significant roles in the passing game. Hopkins can be a strong addition to three-receiver sets, though, because his ability as a contested-catch threat on the outside should complement the rest of the group quite well. Hopkins has caught passes from 19 different quarterbacks, the most among active players, according to NFL Research. It's only right he gets the opportunity to team up with Patrick Mahomes and Lamar Jackson in consecutive years to chase a Super Bowl ring.
✍️ Saints sign Justin Reid
3-year, $31.5M deal
Reid going home to Louisiana is a pretty cool story. He's also still one of the game's most reliable safeties, so this certainly helps the NFL's 30th-ranked defense. All that being said, it's an odd move for the Saints. This team has been in cap hell forever. It's gotten so bad that Derek Carr's contract had to be restructured just to get under the ceiling for this year. The adjustment pushes his 2026 cap hit to $69.2 million. The Saints should be tearing this thing down, accepting that they're in for a rough year or two, then rebuilding it the right way. Adding a veteran defensive back on a salary like this is the latest sign they simply can't shake the urge to operate like a win-now team. Such decisions only make it more difficult to get the cap in order down the road.
✍️ Falcons sign Leonard Floyd
1-year, $10M deal
Floyd finds a new home in Atlanta just hours after being released by the 49ers. The former first-rounder turns 33 in September, so it's hardly a long-term solution, but something had to be done. Floyd has quietly been one of the league's most consistent pass-rush specialists, putting up no fewer than 8.5 sacks for five consecutive seasons. The Falcons, for reference, haven't had a player reach that mark since Adrian Clayborn in 2017. Floyd's arrival, and perhaps the addition of another edge-rusher early in the draft, could go a long way toward solving the issues up front.
✂️ 49ers release Leonard Floyd
The 49ers moving on from Floyd after an 8.5-sack season leaves a significant void opposite Nick Bosa ... for now. We'll avoid making any sort of predictions here, but it appears possible this is a precursor to another big move. San Francisco has been linked to Bosa's older brother, Joey, following his release from the Chargers. It certainly wouldn't be a slam-dunk addition, as the five-time Pro Bowler was cut for a reason. Injuries have forced him to miss 24 games over the last three years. But the risk should be built into the cost of his next contract. If healthy, the Bosa brothers might be the league's premier edge-rush duo. And who doesn't love a family reunion? (Edit: Never mind!)
✍️ Colts sign Daniel Jones
1-year, $14M deal
Anthony Richardson has officially been put on notice. That may seem a bit extreme, but this clearly isn't your standard backup quarterback contract. Jones easily tops the $12.5 million that Gardner Minshew got as a bridge/fringe starter in Las Vegas last year. And the Colts have included incentives that could potentially push this deal up to $17.7 million. For reference, Justin Fields just got $20 million per year to be the clear-cut starter with the Jets. The Colts are hoping Richardson makes good on his sky-high potential, but they understandably aren't putting their eggs in one basket anymore. Is Daniel Jones a sure bet to return any significant value? Probably not. It's not like we haven't seen late breakouts before, though. Could the Colts provide the kind of situation that would allow the former first-round pick to take a Sam Darnold-like career path? We may find out if Richardson doesn't put it all together this year.
🔁 Texans acquire C.J. Gardner-Johnson
Trade terms: Eagles send DB to Houston for G Kenyon Green, pick swap
It's tough to figure out what the Eagles are doing with this one. Gardner-Johnson was a valuable piece for the league's best defense, finishing the 2024 regular season with six interceptions and checking in as PFF's eighth-ranked safety in coverage. The move will create a bit of space for big-money extensions in future seasons, and perhaps Philly is high on 2023 third-round pick Sydney Brown as his replacement. The return hardly seems worth it, though. Green, a frustrating player since being selected No. 15 overall in 2022, was benched in October. He wouldn't be the first talented athlete to take off under the guidance of offensive line guru Jeff Stoutland, but it's a big gamble. On the other side, this looks like a home run for the Texans. Adding Gardner-Johnson for such a low price is a savvy way to round out what may be one of the league's best secondaries.
✍️ Giants sign Jevon Holland
3-year, $45M deal
The Giants made a big splash in the secondary on Day 1, adding former Saints cornerback Paulson Adebo on a three-year, $54-million deal. And they weren't done there. Upgrading the defensive backfield remained a focus early on Day 2 as New York reeled in arguably the top safety on the market. Holland is still just 25 years old and brings Pro Bowl-caliber playmaking skills to the deep middle. His presence as a rangy free safety should be an outstanding complement to 2024 second-round pick Tyler Nubin, who's at his best a little closer to the line of scrimmage. The Giants didn't have to go wild on the price tag, either. Holland's $15-million average is in line with other free-agent signees Camryn Bynum and Talanoa Hufanga and is $2 million shy of Tre'von Moehrig.
✍️ Vikings load up
DT Jonathan Allen: 3-year, $60M deal
G Will Fries: 5-year, $88M deal
The Vikings started free agency with a pair of important moves, keeping top free-agent cornerback Byron Murphy Jr. and adding veteran center Ryan Kelly. General manager Kwesi Adofo-Mensah ramped up the aggressiveness early on Day 2. Allen, who was released by the Commanders last week, fills a major need on the interior defensive line. Finally adding a player who can win one-on-one matchups inside could be a game-changer for a defense that had already had so much success creating pressure with schematic creativity. (The Commanders moving on from Allen only to spend the cap savings on Javon Kinlaw at $15 million per year is one of the more puzzling moves of the offseason thus far.) Fries is an ascending young player who'd been in the midst of a breakout season before suffering a broken tibia in Week 5. The big-money deal comes with a bit of risk, but he and Kelly could take care of Minnesota's interior offensive line concerns. It's nice to see the Vikings going all-in around J.J. McCarthy before he even gets on the field.