The 2026 NFL offseason is already one for the history books. In the opening week of free agency alone, NFL teams reportedly spent a record $5.83 billion in contracts, including $2.59 billion in guaranteed money. From blockbuster trades to jaw-dropping extensions, the league’s biggest stars are finding new homes — and new paychecks. If you have been trying to keep up with all the moves, here is your complete breakdown of the biggest contracts and what they mean for the upcoming season.
Trent McDuffie Becomes the Highest-Paid Cornerback in NFL History
The Los Angeles Rams made the most aggressive move of the entire free agency period without even waiting for the official start. The Rams traded for Kansas City Chiefs cornerback Trent McDuffie at the cost of the 29th overall pick, a fifth-rounder, a sixth-rounder, and a 2027 third-rounder — then signed him to a massive four-year, $124 million extension with $100 million guaranteed, making him the highest-paid cornerback in NFL history at $31 million annually.
The Rams then doubled down by signing another former Chiefs cornerback, Jaylen Watson, whose physical coverage traits and ability to align in press coverage make him a perfect boundary matchup versus top wide receivers. The Rams are clearly going all-in for 2026 with veteran quarterback Matthew Stafford still at the helm.
Jaelan Phillips Cashes In With Panthers
Edge rusher Jaelan Phillips signed the most lucrative pass-rusher deal of the cycle — a four-year, $114 million contract with $60 million guaranteed with the Carolina Panthers. Phillips is set to earn $36.2 million in the first year alone, making him the second-highest earner at his position in 2026, trailing only Micah Parsons of the Green Bay Packers.
Carolina had finished 31st in pass-rush grade and pressure rate in 2025, so adding Phillips is a massive upgrade for a defense that desperately needed playmakers off the edge.
Ravens Land Trey Hendrickson After Maxx Crosby Drama
Perhaps no story dominated free agency headlines more than the Maxx Crosby saga. The Ravens had agreed to a trade for Crosby, with Lamar Jackson even restructuring his contract to free up cap space — but the deal ultimately fell through.
Baltimore quickly pivoted. The Ravens landed star pass rusher Trey Hendrickson on a four-year, $112 million contract worth up to $120 million with incentives, featuring $60 million in guaranteed money and a $20 million signing bonus. Hendrickson is one of only six edge rushers to record a pass-rush win rate above 20% over the past three seasons — a massive get for a Baltimore defense that ranked 29th in pass-rush grade in 2025.
Biggest Contracts Signed in 2026 NFL Free Agency
| Player | Position | Team | Contract Value | Guaranteed |
|---|---|---|---|---|
| Trent McDuffie | CB | LA Rams | $124M / 4 yrs | $100M |
| Jaelan Phillips | Edge | Carolina Panthers | $114M / 4 yrs | $60M |
| Trey Hendrickson | Edge | Baltimore Ravens | $112M / 4 yrs | $60M |
| Daniel Jones | QB | Indianapolis Colts | $88M / 2 yrs | $60M |
| Jaylen Watson | CB | LA Rams | $51M / 3 yrs | $34M |
| Tyler Linderbaum | C | Las Vegas Raiders | $81M deal | — |
| Isaiah Likely | TE | NY Giants | $40M / 3 yrs | — |
Kyler Murray to the Vikings — The Bargain of the Offseason
If one signing shocked the entire NFL world, it was this one. Quarterback Kyler Murray signed with the Minnesota Vikings for just the veteran minimum of $1.3 million — a deal that analysts are calling a ridiculous bargain for a starting-caliber quarterback.
Coach Kevin O’Connell has a strong track record of developing and improving the play of his quarterbacks, and Minnesota won nine games last season despite poor QB play. If Murray performs anywhere close to his 2023 form — when he posted a 63.4 QBR — the Vikings have a real shot at competing in the loaded NFC North.
Raiders and Titans Break the Bank
Two teams leading the free agency spending spree are the Las Vegas Raiders and the Tennessee Titans — who tied for the NFL’s worst record last season at 3-14. The Titans alone have spent nearly $295 million in free agency, with their biggest contracts going to defensive tackle John Franklin-Myers, wide receiver Wan’Dale Robinson, and cornerback Alonte Taylor.
The Raiders filled major holes with center Tyler Linderbaum, linebackers Quay Walker and Nakobe Dean, defensive end Kwity Paye, and nickel back Taron Johnson — quietly one of the most complete roster overhauls of any team this offseason.
What Does All This Mean for the 2026 Season?
The spending frenzy is being fueled in large part by the NFL’s record salary cap of $301.2 million X — the highest in league history. More cap room means more big deals, which means more roster shuffling than ever before.
The Los Angeles Rams look like the most improved team on paper after their defensive overhaul. The Ravens, despite the Crosby drama, still upgraded their pass rush significantly. And the Vikings, with Kyler Murray at a bargain price, could be the most dangerous sleeper team heading into the season.
Meanwhile, the Seattle Seahawks — reigning Super Bowl LX champions — are already facing a reshuffled league as every rival tries to catch them in 2026. With this much money flying around, the 2026 NFL season promises to be one of the most competitive in recent memory.
FAQs
Q1. How much money was spent in 2026 NFL free agency?
NFL teams reportedly spent a record $5.83 billion in total contracts during the opening week of free agency, including $2.59 billion in guaranteed money — the highest single-week spending total in league history.
Q2. Who is the highest-paid cornerback in NFL history after 2026 free agency?
Trent McDuffie of the Los Angeles Rams became the highest-paid cornerback in NFL history after signing a four-year, $124 million extension at $31 million per year.
Q3. Where did Kyler Murray sign in 2026 NFL free agency?
Kyler Murray signed with the Minnesota Vikings for the veteran minimum of $1.3 million — widely considered the biggest bargain signing of the entire offseason.
Q4. Did Maxx Crosby get traded in 2026?
No. The trade to the Baltimore Ravens was agreed upon but ultimately fell through. Crosby is expected to remain with the Las Vegas Raiders for the 2026 season, though reports suggest the Raiders may revisit trade talks before the April draft.