The NFL’s legal tampering window of free agency opened Monday, clearing way for a flurry of activity from deals that may or may not have been negotiated when free agency conversations were technically illegal. Add in a handful of trades and still more mega-extensions for players at the top of their positions, and the league’s activity has almost certainly provided more interest already than fans will see when the league year turns over Wednesday, bringing with it the “official” free agency window.
From headline-grabbing quarterbacks and receivers on the move to the 2023 Defensive Player of the Year going nowhere for a long time, Yahoo Sports is here to catch you up on all the biggest moves — and what they mean for the NFL Draft cycle and season to come.
Here are our winners and losers from the start of 2025 NFL free agency:
Winners
Tom Brady: Have you listened to Brady call games for Fox? In his first season in the booth, the seven-time Super Bowl champion often graded quarterbacks' throws — and wasn’t above giving them D's. Brady sounded borderline disgusted at times by the caliber of play he saw behind center … so one can only guess how he felt about the position for the team in which he holds a minority ownership stake.
This past weekend, the Las Vegas Raiders upgraded dramatically at quarterback. Trading a third-round draft pick to the Seattle Seahawks, head coach Pete Carroll reunites with Geno Smith — who helped Seattle to the eighth-most passing yards and 14th-ranked total offense last season compared to the Raiders’ 13th and 29th-ranked groups, respectively.
Tight end Brock Bowers and his fantasy managers also win here. But don’t discount Brady’s relief to attain competence at the game’s most impactful position.
NFL draft prospect Cam Ward: Miami quarterback Cam Ward is widely considered the best quarterback in this year’s draft class. And his chances at leaving the draft board early continue to grow as the 2025 homes for Matthew Stafford, Sam Darnold, Justin Fields and Geno Smith settle without a peep from the Tennessee Titans, Cleveland Browns or New York Giants — currently owners of the first three draft picks.
While this year’s quarterback class hasn’t received the same acclaim relative to the history of its position as players like edge rusher Abdul Carter and hybrid receiver/defensive back Travis Hunter, it’s unlikely three quarterback-needy teams pass on Ward. The correlation between quarterback success and team success has historically outweighed teams' attempts at patience, an urge they feel even stronger as veteran quarterback contracts balloon to costs dramatically more expensive than those of rookie quarterbacks. All arrows point to Ward leaving the board immediately. League trends suggest Colorado’s Shedeur Sanders won't be far behind.
Tyreek Hill: Remember when the Miami Dolphins receiver said he wanted out after his team’s season finale against the New York Jets? The Dolphins would prefer you didn’t, and they’re working on preventing the next escape request.
Hill’s gripes weren’t only with the team missing the playoffs. He was also frustrated trying to produce in a season when he played six-plus games without his starting quarterback, Tua Tagovailoa. Hill dropped from 63 yards and .55 touchdowns receiving per game with Tagovailoa active to 15.6 yards and no scores in contests without him.
Tagovailoa’s health can’t be guaranteed. So the Dolphins are instead investing in stronger quarterback insurance, updating their depth from Tyler Huntley and Skylar Thompson to Zach Wilson with a one-year deal with $6 million fully guaranteed, per reports. Wilson struggled in his New York Jets career as most quarterbacks do, but he hasn’t altogether lost the talent that compelled the Jets to draft him second overall in 2021. If Wilson gets in, will he follow Sam Darnold and Geno Smith’s leads toward a post-Jets rebound? Either way, Hill can expect less of a dropoff in games with Tagovailoa.
The Buffalo Bills’ salary cap managers: For the second time, the Bills extended Josh Allen to a megadeal with an unusually long contract. Allen signed a six-year extension in 2021 that went through 2028; now, the reigning MVP has agreed to a renegotiated six-year extension through 2030.
Allen will absolutely cash in for his top-of-league production, his $250 million in guarantees the largest guaranteed total on a contract in NFL history. But Allen has also now twice allowed the franchise flexibility to build a talented group around him at the expense of possibly maximizing his earnings. NFL quarterbacks often fight for extensions closer to four years to get back to the negotiating table amid a salary cap that continues to skyrocket.
Consider that Dallas Cowboys quarterback Dak Prescott’s 2024 extension was 96.25% guaranteed versus Allen’s 75.76%. Ultimately, both will make generational money. But Allen’s willingness to structure his deal in a way that gives his team more options helps the front office — and, perhaps, the franchise’s progress toward a Super Bowl.
The NFL schedule makers: General manager Omar Khan has reason to celebrate trading a second-round draft pick for receiver DK Metcalf after his trade-and-extend plans for San Francisco 49ers receiver Brandon Aiyuk failed to deliver last August. Pittsburgh Steelers teammates, too, are eagerly awaiting the arrival of a wideout who averaged 1,108 yards and eight touchdowns per year over six seasons with the Seattle Seahawks. And yet, as much as Pittsburgh will champion its $30 million-a-year centerpiece, the NFL schedulemakers likely shared the exuberance, too. Because while the NFL enjoys showcasing a range of communities across the country (hello, 2025 NFL Draft in Green Bay), it knows that ratings jump when the biggest-market teams land some of the biggest-name stars.
Metcalf to the Steelers doesn’t have the prime-time touch that Aaron Rodgers to the New York Jets had (though … stay tuned whether Rodgers lands in Pittsburgh). But Metcalf is a fantasy star playing for a team in need of an upgrade. Don’t be surprised when you turn on night games this year and see him.
Losers
Jets fans who want a good passing game: An NFC executive who surveyed the quarterback landscape during the scouting combine week believed Justin Fields offered the highest upside among free-agent quarterbacks. Part of this assessment came from the rare athleticism Fields has exhibited across his Ohio State, Chicago Bears and Pittsburgh Steelers tenures. And part came from a consideration of the Philadelphia Eagles and Baltimore Ravens’ success this season, each with a dual-threat quarterback paired beside a landmark running back. So while the Jets signing Fields to a mid-tier bridge contract should give them a sharp solution to their 2025 reset year, the Jets would be wiser to play off Fields’ strengths alongside Breece Hall and Braelon Allen than to light it up in the air. The strategy also should keep fresher their defense, accentuating a stronger suit of the roster.
The main piece missing from this equation: an offensive line anywhere near the caliber of Philadelphia and Baltimore. The Jets aren’t working with a 41-year-old’s mobility anymore, but they’ll nonetheless need a foundation for Fields and Co. to work off in head coach Aaron Glenn’s first year.
Aaron Rodgers: About that 41-year-old … free agency (or pre-free agency) has yet to deliver on his goals. Could Rodgers still land with the Steelers, Metcalf and George Pickens? Sure. That would be his best-case option. But coming off his split from the Jets, Rodgers’ top goal was reportedly to go to the Los Angeles Rams. Instead, the Rams paid more money to re-invest in their future with Matthew Stafford … and then signed Rodgers’ best friend and favorite receiver, Davante Adams. Two strikes.
The Rams and Steelers have seemed like Rodgers’ best bet all along. One is still in contention, though Pittsburgh could instead choose to run it back with still-available Russell Wilson and perhaps a mid-round draft pick to develop. If the Steelers re-sign Wilson, Rodgers’ chance at playing for a 2025 contender will look extremely murky.
Bengals de facto GM Duke Tobin’s ROI: The Cincinnati Bengals should still be on track to extend the receiver duo of Ja’Marr Chase and Tee Higgins, the prior under contract another year and the latter currently designated with a second straight franchise tag. But Tobin’s pronouncement at the scouting combine that Chase would command the highest non-quarterback deal became far costlier this weekend when the Browns and edge rusher Myles Garrett — a non-quarterback, for those keeping track at home — reached an extension that averages $40 million per year in new money, with $123.5 million guaranteed. Garrett had driven up his value with a trade request, not to mention consistent production that included four All-Pro nods and 2023 Defensive Player of the Year honors.
Still, the highest-paid non-quarterback contract went from $35 million per year this offseason to $35.5 with Las Vegas Raiders edge rusher Maxx Crosby’s extension last week to a whopping $40 million per year with Garrett.
Chase rivals Justin Jefferson for claim to the best receiver at the game and he’ll be paid accordingly. A week ago, that range seemed like it could be $36-$38 million a year. Now, it seems headed toward $45 million more quickly than Tobin or the Bengals would like.
Cowboys secondary: The average fan may not know the name of Jourdan Lewis, the Dallas Cowboys’ 2017 third-round draft pick. But the slot corner has been an anchor of Dallas’ secondary for eight years now, mentoring younger players and exuding heart that explains his success exceeding expectations for his 5-foot-10 stature. Dallas wanted him back but ultimately lost a bidding war to the Jacksonville Jaguars on Monday. Defensive coordinator Matt Eberflus will be tasked with finding someone to channel the energy and leadership in a group that still has talent in cornerbacks Trevon Diggs and DaRon Bland, if they can stay healthy.
Vikings receivers*: The asterisk loser returns because the survey is still out on quarterback J.J. McCarthy. But the 10th overall pick of the 2024 NFL Draft is unproven, returning from a torn meniscus that required two surgeries and a rehabilitation timeline that complicated his fitness goals. So the Vikings receiving corps led by Justin Jefferson and Jordan Addison would have reason to want back Darnold, a year after he filled in for the injured McCarthy to hit the duo for 2,408 receiving yards and 19 touchdowns as Minnesota’s passing offense ranked top-six in production and top-five in touchdowns.
Instead, the Vikings opted not to designate Darnold with the fairly cost-effective but salary cap-inflexible franchise tag, Darnold signing a three-year deal with Seattle worth up to $100.5 million with $55 million in guarantees, per multiple reports. The Vikings were unlikely to pay that with McCarthy in the wings and Darnold tapering off toward the end of the season (when, in fairness, his protection tapered as well). But moving from Kirk Cousins to Darnold to McCarthy in three years is a bit of quarterback whiplash for receivers needing to sync with their throwers. Expect Jefferson and Addison to face an adjustment period at best and perhaps a dropoff.
