Agent's Take: The 2025 NFL contract awards, starring Sam Darnold and other veteran acquisitions
Here's the good, the bad and the ugly from the league's biggest veteran deals of 2025
By
Joel Corry
•
10 min read
CBS Sports is assessing the NFL's financial landscape through awards for the 13th straight year now that the Super Bowl LX matchup is set. These awards differ from traditional NFL honors because they take an economic perspective, emphasizing 2025 veteran acquisitions.
Players acquired via trades or free agency can have a tremendous impact on an NFL team's fortunes. These awards do not consider rookies because their salaries are dictated by draft position and the rookie wage scale. The same applies to players who sign restricted free agent tenders, since the NFL's Collective Bargaining Agreement sets those amounts. A runner-up is named when warranted.
Most Valuable Acquisition
The Seahawks pivoted to Sam Darnold after contract extension talks with Geno Smith stalled prior to his trade to the Las Vegas Raiders in March. Darnold signed a team-friendly three-year, $100.5 million contract in free agency that averages $33.5 million per year and can reach $115.5 million through incentives. If Smith had been willing to accept a Darnold-type deal, he would still be Seattle's quarterback.
The contract was structured to give the Seahawks a small window to get out after this season if Darnold didn't play well. Of the $27.5 million he's scheduled to make in 2026, $17.5 million is guaranteed for injury and becomes fully guaranteed five days after Super Bowl LX on Feb. 13. If Seattle parts ways with him in 2026, it would carry $25.6 million in dead money -- a salary cap charge for a player no longer on the roster -- while Darnold would collect $37.5 million for one year.
A quick exit isn't a consideration for the Seahawks after they advanced to the Super Bowl for the first time in 11 years. Darnold showed his 2024 Pro Bowl season wasn't just a product of Minnesota Vikings coach Kevin O'Connell's offensive brilliance. He earned another Pro Bowl nod, and Seattle secured the top seed in the NFC with a 14-3 record.
Darnold completed 67.7% of his passes for 4,048 yards with 25 touchdowns and 14 interceptions, posting a 99.1 passer rating. He is reshaping his reputation for "choking" in big games. Darnold went 25 of 36 (69.4%) for 356 yards with three touchdowns and no interceptions for a 127.8 passer rating in Seattle's 31-27 win over the Los Angeles Rams in the NFC Championship Game.
Runner-up: Micah Parsons, EDGE, Packers
Least Valuable Acquisition
The Raiders dealt a 2025 third-round pick to the Seahawks for Geno Smith in March. They acquired Smith to provide the quarterback stability the franchise had lacked, with six different players starting at the position since releasing Derek Carr following the 2022 season.
Shortly after the trade, Smith received a two-year, $75 million contract extension that averages $37.5 million per year and includes $50.5 million in guarantees, with $42.5 million fully guaranteed at signing. Incentives and salary escalators can push the deal's value as high as $84 million.
The trade reunited Smith with Pete Carroll, whom the Raiders hired as head coach last January. Carroll coached Smith during the first five years of his six-year run in Seattle.
Smith didn't resemble the player who won the NFL's Comeback Player of the Year award in 2022 this season. He led the league with 19 interceptions, and his 84.7 passer rating ranked 30th in the NFL. The Raiders went 2-13 in the 15 games Smith started.
The Raiders fired Carroll after finishing 3-14, one more loss than in 2024. The team is expected to select Indiana University Heisman Trophy-winning quarterback Fernando Mendoza to replace Smith after securing the No. 1 overall pick in the 2026 NFL Draft.
Runner-up: Justin Fields, QB, Jets
Offensive Signing of the Year
The 49ers' decision to give Mac Jones a two-year, $8.41 million contract worth a maximum of $12.91 million through incentives to back up Brock Purdy was viewed as little more than a blip on the NFL radar when he signed last March. Jones proved far more valuable than expected, keeping San Francisco afloat during the eight games Purdy missed with a turf toe injury.
The 49ers won five of the eight games Jones started. He completed 69.6% of his passes (201 of 289) for 2,151 yards with 13 touchdowns and six interceptions, posting a 97.4 passer rating over that stretch.
Runner-up: Sam Darnold, QB, Seahawks
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Defensive Signing of the Year
Conventional wisdom suggested Micah Parsons would become the NFL's highest-paid non-quarterback at some point before the regular season started. Most expected that deal to come from the Dallas Cowboys. Instead, a bitter contract dispute with owner Jerry Jones led to Parsons being traded to the Green Bay Packers at the end of August for a 2026 first-round pick, a 2027 first-round pick and defensive tackle Kenny Clark.
As part of the trade, Parsons received a four-year, $186 million contract extension with $136.007 million in overall guarantees, including $123.107 million fully guaranteed at signing. His $46.5 million per year and $123.107 million fully guaranteed at signing are non-quarterback records.
Parsons recorded 12.5 sacks in 14 games before tearing the ACL in his left knee. According to NFL Next Gen Stats, he led the league with 83 quarterback pressures (combined sacks, quarterback hits and quarterback hurries) through 15 weeks when he got hurt. Parsons generated 37.9% of Green Bay's pressures and 29.9% of its sacks. Only Cleveland Browns edge rusher Myles Garrett accounted for a larger share of his team's pressures (43.4%) and sacks (27.2%). Parsons earned first-team All-Pro honors and is a finalist for the NFL's Defensive Player of the Year award.
The Packers didn't win another game after Parsons went down. They allowed 20.1 points per game with him and 27.5 after his ACL tear over the final four games, including a wild card playoff loss to the Chicago Bears. The attention Parsons drew with double teams and offensive line slides on passing downs also created opportunities for teammates. Green Bay averaged 2.4 sacks per game with Parsons and just one per game without him.
Biggest Steal
The Bears had no idea Nahshon Wright would play such a prominent role on their defense when they quickly signed him to a one-year deal at his $1.1 million league minimum after the Vikings released him in April. He spent the 2024 season on Minnesota's practice squad after the Vikings acquired him that preseason from the Cowboys for cornerback Andrew Booth.
Wright seized an opportunity created by multiple injuries at cornerback and put together a breakout season. He earned NFC Defensive Player of the Month honors for November and led the NFL with eight takeaways (five interceptions and three fumble recoveries).
Late in the season, Wright said he would like to remain in Chicago. The Bears already have significant financial commitments at cornerback, though. Jaylon Johnson is in the second year of the four-year, $76 million deal he signed in 2024 that averages $19 million per year. Kyler Gordon signed a three-year, $40 million extension in April that averages $13,333,333 per year.
Best Use of a Contract Year
George Pickens had worn out his welcome with the Pittsburgh Steelers because of his attitude and immaturity despite his immense talent. The Steelers trading the equivalent of a second-round pick to the Seahawks for wide receiver DK Metcalf in March -- and giving him a four-year extension averaging nearly $33 million per year -- spoke volumes about their frustrations with Pickens.
The calculated risk the Cowboys took by trading a 2026 third-round pick and a 2027 fifth-round pick to the Steelers for Pickens and a 2027 sixth-round pick last May paid big dividends. Pickens posted career highs with 93 receptions, 1,429 receiving yards and nine touchdowns while averaging 15.4 yards per catch. The 2022 second-round pick ranked in the NFL's top 10 in each of those categories this season. He earned a Pro Bowl nod and second-team All-NFL honors for the first time in his career.
Absent a new deal before early March, Pickens will receive the franchise tag. The deadline for teams to use the franchise or transition tag is March 3 at 4 p.m. ET.
The 2026 non-exclusive franchise tag for wide receivers projects to 9.016% of the 2026 salary cap, up from 8.581% in 2025. If the 2026 cap is set at $300 million -- a 7.45% increase over 2025's $279.2 million figure — the wide receiver tag should come in at $27.047 million.
Patience could work in Pickens' favor. His best deal could come from letting Nico Collins and Puka Nacua, who will be in contract years in 2026, further define the wide receiver market, provided their respective deals with the Houston Texans and Rams are done before the July 15 deadline for franchise players to sign long term. Seahawks wide receiver Jaxon Smith-Njigba could also factor into the equation, as the 2023 first-round pick is now eligible for an extension.
Runners-up: Devin Lloyd, LB, Jaguars and Kyle Pitts, TE, Falcons
Agent's Take: George Pickens, Breece Hall and others cashing in during contract years
Joel Corry
Worst Use of a Contract Year
Cam Robinson signed a one-year, $12 million contract worth a maximum of $14.5 million through incentives as part of the Texans' wholesale offensive line overhaul. The assumption was he would replace Laremy Tunsil, who was traded to the Washington Commanders in March, at left tackle.
However, a minor left knee injury during training camp opened the door for 2025 second-round pick Aireontae Ersery to win the starting job. Robinson had started all 101 games he played over his first eight NFL seasons prior to this campaign.
The Browns losing starting left tackle Dawand Jones to a season-ending knee injury in Week 3 prompted a trade for Robinson. The Texans acquired a 2027 sixth-round pick in exchange for Robinson and a 2027 seventh-round pick. Robinson was a healthy scratch in his final game with Houston against the Titans in Week 4 before the deal.
Robinson validated Houston's decision to move him while he was with the Browns. After the trade, only Stone Forsythe allowed more than the eight sacks Robinson gave up in his 13 games in Cleveland, according to Pro Football Focus.
Runner-up: Haason Reddick, EDGE, Buccaneers
Best Contract Extension (for a team)
The Bills signed James Cook to a four-year, $46 million extension in August after contentious negotiations. The deal averages $11.5 million per year and includes $30 million in guarantees, with $15.28 million fully guaranteed. Salary escalators can push the contract's value as high as $48 million. The signing came after the 2022 second-round pick skipped voluntary offseason workouts and staged a hold-in during training camp because of his frustration with contract talks.
Cook's chances of landing the $15 million per year he sought disappeared once Kyren Williams, a fellow 2022 draft pick, signed a three-year, $33 million extension with the Rams that averages $11 million per year about a week earlier. Cook was coming off a 2024 season in which he rushed for 1,009 yards while averaging 4.9 yards per carry. He also shared the NFL lead with 16 rushing touchdowns.
Cook delivered a 2025 season nobody saw coming. After averaging 64.6 rushing yards per game over his previous two years as a starter, he made a massive jump by leading the league at 95.4 yards per game on the ground. Cook paced the NFL with 1,621 rushing yards while averaging 5.2 yards per carry, the league's second-best mark. He scored 14 total touchdowns (12 rushing, two receiving) and earned first-team All-NFL honors from the Pro Football Writers of America.
The Bills would have been forced to use the franchise tag if Cook had played out his rookie deal with this type of season. The 2026 non-exclusive franchise tag for running backs projects to 4.723% of the 2026 salary cap, down slightly from 4.886% in 2025. If the 2026 cap is set at $300 million, the running back tag should come in at $14.171 million.
Cook's asking price surely would have climbed beyond $15 million per year, and he would have been positioned to benefit from a changing running back market. 2023 first-round picks Bijan Robinson and Jahmyr Gibbs are now eligible for extensions.
It's conceivable Robinson could become the NFL's highest-paid running back ahead of Saquon Barkley, who signed a two-year, $41.2 million extension last March that averages $20.6 million per year, before the 2026 season begins. Robinson led the NFL with 2,298 yards from scrimmage (combined rushing and receiving yards) for the Atlanta Falcons.
Gibbs could also benefit from the Detroit Lions' aggressive approach to extending core players on rookie contracts. He will likely aim to join Barkley in the $20 million-per-year running back club.
Runner-up: Nik Bonitto, EDGE, Broncos
Worst Contract Extension (for a team)
Daron Bland became the first beneficiary of Parsons being traded to the Packers. He signed a four-year, $90 million extension three days after the deal, with $50 million in guarantees, including $36.346 million fully guaranteed at signing. Salary escalators can push the contract's value to $92 million. At $22.5 million per year, Bland is the NFL's sixth-highest-paid cornerback.
Jones appears to have jumped the gun with Bland after dragging his feet on other extensions in the past, including quarterback Dak Prescott, wide receiver CeeDee Lamb and Parsons. Bland was limited to seven games in 2024 because of a left foot fracture that required surgery, and his play was uneven after returning from the injury.
Bland earned the extension largely on the strength of his 2023 breakout season, when he secured first-team All-Pro honors after leading the league with nine interceptions. His five pick-sixes set an NFL single-season record.
Bland didn't regain his All-Pro form this season. Opposing quarterbacks completed 67.1% of their passes (51 of 76) for a 108.9 passer rating when targeting him, according to PFF. Bland also surrendered five touchdowns in coverage in the 12 games he played. The Cowboys finished with the NFL's worst pass defense, allowing 251.5 yards per game.
Bland underwent left foot surgery a couple of weeks ago after finishing the season on injured reserve. He is fortunate he isn't headed into free agency in March after two injury-plagued seasons that make his 2023 All-Pro campaign look more like an outlier. Bland could find himself on the chopping block if he doesn't bounce back in 2026 under new defensive coordinator Christian Parker.
