Welcome to NFL free agency!
The NFL officially opened for business Monday at noon with the start of its “legal tampering” period. Several of the top free agents — including possibly Patriots wide receiver Jakobi Meyers — should agree to a new contract Monday, when historically most major deals have been reached and reported following weeks of talks.
As for the Pats, they’re in a strong position. They own the eighth-most cap space in the NFL at $30.9 million, per Over the Cap, and rank among the lowest-spending teams in the league over the last three years. They have clear needs at wide receiver, offensive tackle and cornerback. Bill Belichick could solve one or two of them this week, provided the Pats are willing to spend and identify proper value in the market.
So will they make a big splash? Or will the Patriots sit out one of the busiest weeks on the NFL calendar?
Follow the Herald’s live tracker for every signing, rumor and move to find out.
Noon NFL teams can officially initiate contract talks with free agents. The Patriots’ best available players are wide receiver Jakobi Meyers, cornerback Jonathan Jones and running back Damien Harris.
Meyers is projected to land the largest contract of the three, potentially in the $15 to $16 million per year range. Jones has expressed the strongest desire to stay. If the Patriots do not retain Meyers and/or Jones, it’s expected they will sign other players to replenish their depth at those positions.
11:50 a.m. The Patriots re-signed inside linebacker Raekwon McMillan last Friday. According to MassLive, the total value of the deal is $2.2 million.
McMillan, 27, is expected to rotate at the position with Ja’Whaun Bentley and Jahlani Tavai. Last year, McMillan played in 16 games despite suffering a thumb injury midseason. He was also coming off an ACL tear.
11:20 a.m. The Patriots are trading veteran tight end Jonnu Smith to the Atlanta Falcons for a 2023 seventh-round pick, a source told the Herald.
The Patriots will create $4.4 million in cap space and absorb a $12.8 million dead cap hit, per Over the Cap, in what amounts to a salary dump move less than an hour away from free agency. Smith has two years remaining on the 4-year deal he signed as an unrestricted free agent in March 2021, one of the worst contracts in the league. Over two seasons in New England, he caught 55 passes and scored one touchdown, while failing to crack 300 yards in each year.
Smith’s departure leaves Hunter Henry and practice-squad players Matt Sokol and Scotty Washington in the team’s tight ends room. With Henry’s contract set to expire after next season, tight end now becomes a top draft need for the Patriots.
The NFL Network first reported Smith’s trade to Atlanta, where he will reunite with head coach Arthur Smith, formerly his offensive coordinator in Tennessee.
Patriots trading TE Jonnu Smith to Falcons for late-round pick
Patriots free agents
WR Jakobi Meyers
CB Jonathan Jones
RB Damien Harris
OT Isaiah Wynn
WR Nelson Agholor
S Jabrill Peppers
DT Carl Davis
OT Marcus Cannon
OT Yodny Cajuste
LB Mack Wilson
LS Joe Cardona
S Cody Davis
CB Joejuan Williams
*DB Myles Bryant
*restricted free agent