NFL free agency 2026 winners and losers: Ravens’ value play; Raiders left hanging

NFL free agency kicked off with a bang last week, which is customary.

The fireworks flew as the Baltimore Ravens backed out of the trade agreement for Maxx Crosby only to sign Trey Hendrickson, the top defensive lineman on the open market. The Las Vegas Raiders made center Tyler Linderbaum a very, very happy — and rich — man. Quarterbacks Kyler Murray and Tua Tagovailoa found new homes, and what they hope represents tickets to redemption. And we’re not done yet.

Many of the most prominent players have taken care of business. But teams still have money to spend, and some very recognizable names remain unsigned.

But let’s take an early pulse on the biggest winners and losers after the initial flurry of action.

Winners

Baltimore Ravens

They come out of the Crosby incident looking bad, but if their doctors indeed saw issues on Crosby’s MRI that concerned them (as did some other doctors, according to reports), then the Ravens did the right thing and operated within the framework of league rules. And, they still got the top-flight pass rusher they needed. Hendrickson may represent a slight drop-off from Crosby, however, acquiring him for similar money, and without having to give up the two first-round picks, represents a win and wise decision for Baltimore. The Ravens also met some other key needs with the addition of interior offensive lineman John Simpson and safety Jaylinn Hawkins — both for good value.

Interior offensive linemen

The big boys in the trenches got paid. Of the top 100 free agents who signed deals last week, 12 of them play either guard or center, and the majority of them signed handsome, multiyear deals. Linderbaum wasn’t alone. Eight of the top interior linemen inked contracts that awarded them average salaries of at least $10 million annually. There was a gap after Linderbaum’s $27 million annual salary, but Zion Johnson ($16.8 million, Cleveland Browns), David Edwards ($15.25 million, New Orleans Saints), Alijah Vera-Tucker ($14 million, New England Patriots) and Conner McGovern ($13 million, Buffalo Bills) fell in line after that.

Rebound quarterbacks

Count Murray and Tagovailoa among the players who scored big last week. After getting released by the Arizona Cardinals, Murray (the No. 1 pick of the 2019 draft) landed a deal with the Minnesota Vikings and coach Kevin O’Connell, who helped resurrect Sam Darnold’s career. The Vikings win here as well. With Arizona on the hook for $36.8 million of Murray’s salary, Minnesota gets a two-time Pro Bowl passer who is only 28 for the league minimum. Murray will compete with J.J. McCarthy for the starting job. Meanwhile, Tagovailoa promptly found work after the Miami Dolphins released him. He signed with the Atlanta Falcons, where third-year pro Michael Penix Jr. is coming off of surgery to repair a torn ACL. New coach Kevin Stefanski will run an offense that has some similarities to the system Tagovailoa played in as a Dolphin because Stefanski learned from Mike Shanahan disciple Gary Kubiak in Minnesota before taking the Cleveland job. Tagovailoa also comes at an affordable rate for Atlanta, thanks to Miami having to cover the roughly $54 million guaranteed to the quarterback. With unproven young quarterbacks on the roster with them, Murray and Tagovailoa have a chance to take jobs and capitalize on fresh starts.

Drake Maye

Looking to build on last season’s breakout campaign, the Patriots quarterback received two upgrades to his supporting cast as New England replaced the aging Stefon Diggs with the ascending Romeo Doubs, and also fortified the interior of its offensive line with the signing of Vera-Tucker. Vera-Tucker has dealt with injuries, but he is indeed a talented player with elite pass-blocking skills and youth (26) on his side.

Malik Willis

The Tennessee Titans castoff-turned Green Bay Packers backup parlayed strong showings in 11 games over the last two years (three starts) into a three-year, $67.5 million contract with the Dolphins and is in line to start for Miami. Willis really never received ample time to develop in Tennessee, where the Titans drafted him in the third round of the 2022 draft. But lessons learned from Packers coach Matt LaFleur and starter Jordan Love helped Willis gain a better understanding of NFL quarterbacking and pro defenses and how to attack them. The dual-threat quarterback now looks to spearhead a revival on South Beach.

Tennessee Titans

​Rebooting once again following the hiring of Robert Saleh, the Titans took an aggressive approach to using their $90-plus million in cap space. The Titans upgraded their defense with the additions of defensive lineman John Franklin-Myers and cornerbacks Alontae Taylor and Cor’Dale Flott, and they gave quarterback Cam Ward a weapon in a young, 1,000-yard receiver, Wan’Dale Robinson. The Titans had competition for Franklin-Myers, but fully guaranteeing Year 2 of the deal made their offer extremely attractive and got the job done, a person familiar with the negotiations said. The Titans did slightly overpay for Taylor (three years, $58 million) and Flott (three years, $45 million), but they faced competition for both and deemed the increases well worth it.

Losers

Las Vegas Raiders

Obviously. Blindsided by the Ravens’ reversal of course, the Raiders lose out on two potential franchise-changing first-round picks, and now seem to have no takers for Crosby, whose salary they didn’t anticipate having on their books when they pursued other free agents.

The Raiders did meet some other needs. They landed Linderbaum, the former Ravens center, to the tune of a massive, three-year, $81 million deal. Did they overpay? Yes. They gave him elite left tackle money, but having a reliable center for a rookie quarterback in Klint Kubiak’s system is extremely important. The Raiders placed a high priority on landing a top center with Linderbaum topping their wish list, according to a person with intimate knowledge of their deliberations, and when it became evident that backup plan McGovern was remaining with Buffalo, they opened up the checkbook for Linderbaum.

Las Vegas had a mixed bag from there. It added some talented players, like wide receiver Jalen Nailor, while also re-signing cornerback Eric Stokes. But it also overpaid for edge rusher Kwity Paye.

Jacksonville Jaguars

After making the playoffs for the first time in three years and only the second time in the last 10, the Jaguars aim to return, but they will have to do so without some key pieces as running back Travis Etienne Jr., linebacker Devin Lloyd and cornerback Greg Newsome II all departed. Meanwhile, aside from re-signing cornerback Montaric Brown, the Jaguars haven’t added any of the leading players on the market.

J.J. McCarthy

The Vikings endured a frustrating 2025 campaign with McCarthy, their first-round pick (No. 10) in 2024. Some of McCarthy’s uneven play (57.6 percent completion percentage, 11 touchdowns, 12 interceptions) stemmed from the fact that he just wasn’t ready to be an NFL starter yet. He missed all of his rookie year recovering from a knee injury sustained in the preseason that required surgery. Still, the Vikings hoped he would have been further along in his maturity and development last season. They haven’t given up on McCarthy, but they wanted a veteran who could compete for the job. But Murray isn’t some journeyman middle-of-the-road talent. He has game-changer ability. McCarthy very well could find himself relegated to the bench while O’Connell uses Murray’s experience and athleticism to take the Vikings’ offense to another level. Murray is on a one-year deal, but if he shines, he could secure an extension, which would likely send McCarthy packing.

Miami Dolphins

Willis represents a significant portion of the reset, however, the Dolphins’ efforts certainly are hampered by the fact that they have nearly $76 million tied up in quarterbacks — one of which isn’t even on the team anymore (Tagovailoa).

Buffalo Bills

The AFC East’s second-best team did trade for former Chicago Bears wide receiver D.J. Moore and the ninth-year veteran can benefit from a change of scenery. The 2018 Carolina Panthers’ first-round draft pick recorded three straight 1,100-yard campaigns from 2019 to 2021. He did so again in 2023, his first season in Chicago, but his production has declined in each of the two previous seasons. Last year, he managed just 50 catches for 682 yards and six touchdowns. Parting with a second-round pick and taking on $62.5 million in guaranteed money for Moore feels like a steep price. And the Bills also signed pass rusher Bradley Chubb, although given his injury history, $29 million guaranteed over three years feels like a reach. The Bills missed out on other defensive reinforcements last week and still have a lot of work to do.