NFL Free Agency Frenzy Underway

Why it matters

The Raiders are trading Smith and a 2026 seventh-round pick to the Jets for a 2026 sixth-round pick. Smith's contract is being adjusted, with the Raiders paying a large portion of his 2026 salary. The Jets are only taking on a small portion of his salary, around the veteran minimum. Smith began his career with the Jets as a second-round pick in 2013. After failing to establish himself as the long-term starter, he left in 2017. He now returns after stints with several teams, including a Pro Bowl-caliber resurgence in Seattle. Tua Tagovailoa is expected to sign a one-year minimum contract with the Atlanta Falcons. The Dolphins will release Tagovailoa, absorbing a record $99 million dead cap hit. The Falcons may start Tagovailoa while Michael Penix Jr. recovers from an ACL injury. The Jets are expected to move on from Justin Fields after acquiring Smith. They are also likely to pursue a veteran backup quarterback. The Jets could see Smith as a bridge to the 2027 draft.

Key numbers

• The Raiders are trading Smith and a 2026 seventh-round pick to the Jets for a 2026 sixth-round pick.
• Smith's contract is being adjusted, with the Raiders paying a large portion of his 2026 salary.
• Smith began his career with the Jets as a second-round pick in 2013.
• After failing to establish himself as the long-term starter, he left in 2017.

What happens next

• Tua Tagovailoa is expected to sign a one-year minimum contract with the Atlanta Falcons.
• The Dolphins will release Tagovailoa, absorbing a record $99 million dead cap hit.
• The Falcons may start Tagovailoa while Michael Penix Jr.

Sources

• period sees

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