The NFL‘s new year began on Wednesday at 4 p.m. ET, marking the official start of free agency.
Although most of the notable agreements were made during the first two days of the legal tampering period, there were still moves that shifted the dial. Below, we examine the day’s biggest winners and losers.
Winner: DE Trey Hendrickson
Hendrickson’s patience paid off. After refusing to budge on his asking price during the first two days of the legal tampering period, the pass-rusher agreed to a four-year, $112M deal with the Baltimore Ravens. (The contract could be worth up to $120M.) This came after the AFC North club backed out of an agreed trade for Las Vegas Raiders DE Maxx Crosby on Tuesday night.
The agreed contract will pay him more than Denver Broncos LB Nik Bonitto (entering the second year of a four-year, $106M deal), a 2025 Defensive Player of the Year finalist. For that kind of money, Hendrickson had better begin producing elite numbers again. The 2024 first-team All-Pro logged four sacks in seven games with the Cincinnati Bengals after totaling a league-leading 17.5 in 17 in 2024. It’s worth noting he underwent surgery in December 2025 for a core issue, which clearly impacted him.
Per The Athletic’s Dianna Russini, the Eagles and Indianapolis Colts were making offers to Hendrickson before he landed with Baltimore. Now that he has spurned Philadelphia, it must pivot to another edge-rusher.
The NFC East squad already lost Jaelan Phillips (who has signed a four-year, $120M deal with the Carolina Panthers). According to Pro Football Reference, he tied with defensive tackle Jalen Carter for third on the Eagles in pressures last season (17 in eight regular-season games). Phillips — whom Philadelphia acquired before the trade deadline passed — had 18 pressures in his first nine games with the Miami Dolphins (via PFR).
Russini later reported the Eagles are keeping tabs on Minnesota Vikings linebacker Jonathan Greenard. However, he may not be an upgrade for Philadelphia. PFR credited him with 24 pressures in 12 games in 2025.
Winner: Safety Kevin Byard
Byard led the league in picks (seven in 17 games with the Chicago Bears) in 2025 and earned a first-team All-Pro nod. Thanks to that stellar season, he has now collected a payday.
The New England Patriots
are signing Byard, who turns 33 on Aug. 17, to a one-year, $9M deal. He’s set to reunite with Patriots head coach Mike Vrabel, whom he played for six seasons with the Tennessee Titans (2018-23).
Leaving Chicago doesn’t take away a chance to win his first Super Bowl ring, either. The Patriots, of course, made Super Bowl LX this past season but lost to the Seattle Seahawks 29-13. New England should remain in the championship hunt with a strong roster that now includes the three-time first-team All-Pro.
Loser: Chicago Bears secondary
With the departures of Byard and cornerback Nahshon Wright (who has signed a one-year, $5.5M deal with the New York Jets), the Bears have now lost their top ballhawks from 2025. Wright tied for second in the NFL in interceptions (five in 17 games) last season.
The Bears have signed defensive back Coby Bryant — who had four interceptions in 15 games for Seattle in 2025 — to a three-year, $40M deal. Still, Chicago should consider taking a DB in the 2026 NFL Draft (scheduled April 23-25 in Pittsburgh) to fill its sudden secondary holes, perhaps USC Trojans safety Kamari Ramsey (6-foot, 202 pounds).
Winner: QB Daniel Jones
Despite suffering a right Achilles tear in December 2025, Jones agreed to a two-year, $88M deal that could be worth up to $100M, per NFL insider Jordan Schultz. After the news broke, Jones told “The Pat McAfee Show” he’s aiming for a Week 1 return.
If Jones stays healthy next season, he should help the Colts vie for a playoff spot. The former New York Giants bust went 8-5 in 13 starts last season and posted a career-high 63 QBR (above the league average).
Loser: Veteran QBs
QBs Russell Wilson, Carson Wentz and Jimmy Garoppolo may be on their couches for a while.
The Arizona Cardinals officially released QB Kyler Murray on Wednesday. A needy team (Vikings) will almost certainly sign the 2019 No. 1 pick before it considers adding one of the aforementioned veterans.
Wilson (0-3 with the Giants) and Wentz (2-3 with the Vikings) had losing records as starters last season. Garoppolo, meanwhile, attempted no passes in three games for the Los Angeles Rams when playing mop-up duty for Matthew Stafford.