The NFL offseason frenzy is poised to kick off, with the 2025 edition of free agency set to unofficially begin at noon ET on Monday. Although players are unable to sign contracts until 4 p.m. on Wednesday, many of this year's top free agents are likely to find new teams in the coming days. As the clock ticks down, franchises are actively working to secure players and enhance their salary cap situations.
This year, the salary cap has increased to an impressive $279.2 million, providing teams with unprecedented financial resources. However, not all franchises are created equal in terms of financial health. As we approach the onset of free agency, it is essential to examine where each team stands, recap recent developments, and preview some of the most critical storylines that will shape the market.
In the days leading up to free agency, a flurry of moves has occurred, primarily driven by cap considerations. Notably, the Los Angeles Chargers released their longtime standout, Joey Bosa, freeing up just over $25 million in cap space. Meanwhile, the Jacksonville Jaguars have agreed to trade receiver Christian Kirk to the Houston Texans, and the Cleveland Browns have restructured the contract of Deshaun Watson once again.
The Kansas City Chiefs have also made headlines by trading star offensive lineman Joe Thuney to the Chicago Bears, who further enhanced their roster by acquiring lineman Jonah Jackson from the Los Angeles Rams. Additionally, on Friday, the Seattle Seahawks sent quarterback Geno Smith to the Las Vegas Raiders. Currently, the Chiefs are just under the cap ceiling, while the Chargers find themselves alongside the New England Patriots and Washington Commanders as teams with significant financial flexibility.
On the other end of the financial spectrum, the New Orleans Saints continue to grapple with a daunting cap situation. However, general manager Mickey Loomis is known for his ability to creatively manage contracts and conjure cap space at the last minute. As teams with financial flexibility prepare for offseason spending, the free-agent market is shaping up to be highly competitive.
This offseason's free-agent class boasts several intriguing names, including guard Mekhi Becton, defensive tackle Milton Williams, receiver Chris Godwin, and safety Jevon Holland. Remarkably, only two players—guard Trey Smith and receiver Tee Higgins—received the franchise tag this offseason, leaving many players available for lucrative contracts.
A number of quarterbacks are set to hit the market, including Russell Wilson, Justin Fields, Mac Jones, and Aaron Rodgers. According to NFL Network's Ian Rapoport, the New York Jets are expected to release Rodgers with a post-June 1 designation, an action likely to be finalized after the new league year begins on Wednesday.
Among these signal-callers, 2024 Pro Bowler Sam Darnold of the Minnesota Vikings stands out as the top quarterback available. His market value is projected at a staggering $40.1 million annually, and the recent trade of Geno Smith has intensified interest in Darnold, with the Seahawks reportedly poised to pursue him.
As the free agency period approaches, the potential for more trades looms large, which could significantly influence the market dynamics. The Seahawks and Los Angeles Rams are reportedly open to trading receivers DK Metcalf and Cooper Kupp, respectively. Moreover, the Cincinnati Bengals have granted All-Pro pass-rusher Trey Hendrickson permission to seek a trade, further stirring the pot as teams prepare for an exciting offseason.
As we stand on the brink of the NFL offseason, the next few days promise to be filled with action, strategy, and significant roster changes that could reshape the landscape of the league. Stay tuned for updates as free agency unfolds!
