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Free Agency Frenzy
The NFL offseason is off to a hot start ๐ฅ, Aaron Donald retired, Tiki Barber tells Saquon, "you're dead to me," the Falcons and the Eagles may have tampered, and we've got a breakdown of the value of an NFL franchise.
Good morning. This is the Opening Drive, the weekly newsletter that brings you the best of the NFL so youโre always the smartest one at the water cooler.
The NFL offseason is off to a hot start ๐ฅ, Aaron Donald retired, Tiki Barber tells Saquon, "you're dead to me," the Falcons and the Eagles may have tampered, and we've got a breakdown of the value of an NFL franchise.
It was a busy week in the NFL. Letโs dive in.
QUICK HITS
Future HoFโer Aaron Donald announced his retirement on Friday (NFL.com)
Bears trade Justin Fields to Steelers for 2025 6th round pick (CBS Sports)
Falcons sign Vikings QB Kirk Cousins in free agency (Sports Illustrated)
RB Derrick Henry signs two year, $16 million deal with the Ravens (NFL.com)
RB Saquon Barkley signs three year deal with the Eagles (Sports Illustrated)
Jets sign former Cowboys OT Tyron Smith (NFL.com)
Packers released LT David Bakhtiari (PFT)
Rams agree to terms with QB Jimmy Garoppolo on one-year deal (NFL.com)
Colts agree to an extension with WR Michael Pittman (Sports Illustrated)
Bears qcquire WR Keenan Allen from Chargers for 4th round pick (ESPN)
Commanders QB Sam Howell traded to Seahawks (Yahoo Sports)
Saints release WR Michael Thomas (CBS Sports)
Titans sign WR Calvin Ridley to massive four year, $92 million deal (NFL.com)
Patrick Mahomes restructed his contract to create $21.6 million in new cap space as the Chiefs load up to chase third straight Super Bowl (Yahoo Sports)
QB Joe Flacco agrees to one year deal with Colts (ESPN)
Lions sign HC Dan Campbell and GM Brad Holmes through the 2027 season (Barstool)
NFL investigates Falcons for tampering with Kirk Cousins (PFT)
Eagles being investigated for tampering with Saquon Barkley (NY Post)
Cowboys QB Dak Prescott under police investigation over sexual assault claim (Sports Illustrated)
Tiki Barber to Saquon Barkley: 'You're dead to me' (Fox Sports)
Canโt keep track of all the off-season transactions? Here are all the 2024 team-by-team signings and trades (CBS Sports)
The NFL will televise Arena Football League games (The Hollywood Reporter)
WHOโS UP? WHOโS DOWN?
Whoโs up?
Howie Roaseman. Despite a potential setback (see below ๐๏ธ), the Philadelphia Eagles have soared under general manager Howie Roseman's savvy leadership. After a rocky start, Roseman spread his wings and took flight, making shrewd moves to assemble a star-studded rosters. His keen eye for talent and skillful salary cap management allowed the Eagles to sign superstars like Saquon Barkley while retaining core players. Renowned for his prowess, Roseman continues wowing with wizardly deals. This offseason's calculated risks paid dividends, as the Eagles dominated free agency, with signings of CJ Gardner Johnson, Devante Parker, Bryce Huff, and Zack Baun among others. Roseman's redemption tour shifted into overdrive, revving up a reloaded roster. Ranked the NFL's best GM, his mastery enables the Eagles to defy the salary cap. Now in his 15th year, Roseman has transformed the Eagles into perennial contenders. His vision and virtuosity have Philly fans flying high, confident the talented team he constructed will deliver a championship. The gridiron Midas' golden touch makes the Eagles a lock to remain soaring atop the NFC East. Howie Roseman's astute leadership proves crucial to the Eagles' success.
Whoโs down?
Kirk D. Cousins. The NFL is cracking down on shady backroom deals, investigating potential tampering violations by the Atlanta Falcons and Philadelphia Eagles. During his introductory Falcons press conference, quarterback Kirk Cousins may have accidentally revealed improper early contact with the team, violating rules prohibiting negotiations with free agents until the new league year begins. If true, this would clearly break NFL tampering policies. The league will determine if the Falcons illegally contacted Cousins before free agency opened. Atlanta faces major penalties like loss of draft picks or fines up to $500,000 if found guilty. Similarly, rumors suggest the Eagles engaged in premature discussions with star running back Saquon Barkley before he signed in Philadelphia. Teams cannot legally negotiate with pending free agents until the period officially opens. The NFL is probing these incidents to send a message - follow tampering rules or face consequences. With free agency now a 365-day conversation, teams must tread carefully to avoid penalties. The Falcons jumped the gun in their pursuit of Cousins and both franchises may pay the price. The NFL is done with shady backroom deals and wants negotiations above board. No more sweet talking players before the open period starts. These cases spotlight the ongoing battle against tampering in the league. Expect the NFL to crack down on the Falcons and Eagles to set an example and ensure future free agency deals remain within the rules.
NUMBERS YOU SHOULD KNOW
A deep dive into the history of the value of an NFL franchise
The National Football League continues its meteoric growth, with team values skyrocketing in recent years. The average franchise is now worth over $5 billion, up 18% from 2021. This reflects massive media rights deals and a new stadium construction boom. The Dallas Cowboys lead the way at $9 billion, the first team to break that barrier. At the bottom, the Cincinnati Bengals are still valued at $3.5 billion. Overall league revenue topped $18 billion last season. Media deals now account for over half of that total. The latest contracts with CBS, NBC, Fox, ESPN/ABC, and Amazon will pay out $113 billion through 2033. Attendance and TV viewership hit new highs in 2022. Gambling revenue continues to rise with legalization. As the NFL cements itself as America's dominant sports league, team values will keep increasing. NFL owners have seen huge returns on investment. Stephen Ross paid $1 billion for the Miami Dolphins in 2009; the team is now worth $5.7 billion. Shahid Khan bought the Jacksonville Jaguars for $770 million in 2012; they're now valued at $4 billion. The league continues to find new revenue streams, ensuring franchise values will keep rising for years to come.
Did you know?
๐ On February 25, 1989, Jones purchased the Cowboys from H. R. "Bum" Bright for $140 million (equivalent to $342.8 million in 2023). The franchise is now valued at $9 billion. Adjusted for inflation, thatโs a 6,328.57% ROI. ๐คฏ
๐ As of August 2023, there are four teams that rose at least 20% in value from the year priorโthe Tennessee Titans (up 26%, to $4.4 billion), Las Vegas Raiders (now worth $6.2 billion, 22% more than a year ago), Miami Dolphins (up 24% in value, to $5.7 billion), and the Cleveland Browns, (up 20% to $4.62 billion). Via Forbes
๐ The $163B aggregate value of the leagueโs 32 teams nearly tops the combined value of every NBA and MLB team.
๐ In the 2022 season, average team revenue hit $581m, up 8% YoY. Only two teams โ Detroit and Cincinnati โ came in under $500 million, and both just by a smidge.
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