Philly Front Office

The Chiefs just chose a running back over their cornerback by giving Walker 3/$43m while Watson goes to the Rams for 3/$51m. This is a head scratcher. You have to wonder what the Chiefs are doing at this point unless they just see the rest of the offenses in the AFC as non-threats. This seems to be the opposite strategy of the 3 NFC contenders in Philly, LA, and Seattle.

Watson is the 2nd Chiefs CB to go to the Rams this week, joining Trent McDuffie (see below). They also brought back Kameron Kurl to rejoin Kam Kinchens in what is now a premier secondary to deal with the Eagles and Seahawks WRs. I had Watson at 3/$60m, so this is a bit of a break in the CB market which still has plenty of inventory.

Walker gets a solid contract for a RB after his Super Bowl heroics, landing at just over $14m per season. I had him at $12m AAV over 3 years, but close enough. Funny thing about Walker when I was writing him up is that he profiles as what everyone always claims Isaiah Pacheco is.

The first deal of free agency is Alec Pierce going back to the Colts for 4/$116m. Surprisingly, this affects the Eagles in a ton of ways…

1. Pierce is a good, not great receiver who led the league in yards per reception the last two seasons. Considering he is a strong #2 but not a #1, this moves the market way up. This was apparently the largest free agent receiver contract in history and includes $84m in guarantees.
2. By going back to the Colts, he is a receiver off the board for needy teams. Not that I want the Eagles to trade AJ Brown, but if they do, not only is he a scarce resource, but Pierce is only making $4m per season less than Brown. There is a huge gap in their two skill levels. Pierce was the best WR on the free agent market.
3. DeVonta Smith is underpaid. He took a discount when he signed his extension a few years ago and he is due a raise. If Pierce is getting $28m AAV, then what does DeVonta get? $33m AAV? $35m?

The Cowboys have traded a 2027 4th round pick for Packers defensive end Rashan Gary. Gary is 28 and signed a 4/$96m extension with Green Bay back in 2023. He still has 2 years left on that deal with $18m due in 2026 and $21m in 2027 (neither is guaranteed). Considering the Cowboys are not responsible for his signing bonus in anyway, they can restructure these numbers down to very little. However, there is probably a good chance they reach some kind of extension before the league new year begins on Wednesday.

Gary is a good, not great pass rusher who averages around 8 sacks a year over the last few seasons. The Packers were likely going to release Gary considering he actually said his goodbyes to Green Bay in an Instagram post yesterday which was later deleted. The EDGE market is an expensive one, so who knows if the Cowboys could have possibly signed him for cheaper but a 4th is a lot. We’ll see as the next few days play out. Certainly not a terrible move though. I guess he is their Maxx Crosby alternative?

The Miami Dolphins are releasing Tua Tagovailoa as a post June 1 cut. That means his $100m cap hit will be split between this offseason and next offseason. IT will still be a mammoth $67m this season and $33m next season though. They really wanted to be out of the Tua business and reset. Does this mean they want to be in the Tanner McKee business considering his minimum salary this season? I hope so!

The Dolphins have also traded Minkah Fitzpatrick to the Jets for a 7th round pick. Fitzpatrick quickly signed a 3/$40m extension. The Eagles need a safety but probably were not interested in the older Fitzpatrick. If they were, that would have signaled the end of Reed Blankenship in Philly (which may happen anyway). However, the $13.3m AAV on the deal will have an effect on the safety market. Fitzpatrick is still good and will turn 30 this season. Someone like Reed, who is 27, will try to beat that number. I think the only way he comes back is at $10m AAV, so the odds are getting longer.

Not only was CB Trent McDuffie traded from the Chiefs to the Rams, but he signed a big new deal as well: 4/$124m. That’s double bad news for the Eagles. First, the Rams got better. There are 3 teams in the NFC designed for sustained success right now and it’s the Seahawks, Eagles, and Rams and one of them just got one of the best CBs in football. Granted AJ Brown and DeVonta Smith have routinely cooked McDuffie, but still, he’s good.

Second, and what I care about most is what it does for the CB market and next year’s Eagles extension candidates, Quinyon Mitchell and Cooper DeJean. I will deep dive on their situations in the summer, but here is a quick look at the market:

Patrick Surtain got things started with his 4/$96m contract two years ago. After the season though, Jaycee Horn jumped the market by getting 4/$100 despite not being in Surtain’s class as a CB. This set the stage for a market reset. Shortly after Horn, Derek Stingley signed for 3/$90m, a $5m AAV leap. Later that summer, Sauce Gardner tacked another year and some change on to bring the market to 4/$120.4m, just $100k more in AAV per season. Well, Trent McDuffie took Sauce and raised him $1m AAV to 4/$124m.

Lest you think this is where it ends, Devon Witherspoon just wrapped up his 3rd season in the league and is therefore due for an extension. Since he is a 1st round pick, he does not NEED an extension, but it is probably in the best interest of the Seahawks to give him one. He was a game wrecker in the Super Bowl and will top McDuffie when he signs.

Q and Coop are going to be looking at whatever Witherspoon gets and will rightfully demand to be in the neighborhood. A lot can change in the next year, but the early hope from Eagles fans is that the two All-Pros take matching discounted contracts. We can keep both either way, so don’t worry, but any discount would be happily taken.