The 2025 NFL offseason had a fast start, beginning with the big trades that saw DK Metcalf go to the Steelers and Geno Smith head to Las Vegas. We also saw Davante Adams land in Los Angeles with the Rams, and Sam Darnold inked a big deal to become the new starting quarterback in Seattle,
All the fantasy analysis can be found here.
While there are still some big names on the market, things have slowed down a bit. So, let’s take a look at which player's fantasy value has declined as a result of signing with a new team, being traded, or having a player’s draft stock drop due to a new player's addition.
Fantasy Football Offseason Winners
Fantasy Football Free Agency Losers
Sam Darnold, QB, Seahawks: After struggling over his first six years in the NFL between the New York Jets, Carolina Panthers and San Francisco 49ers, Darnold busted out for a career-high 307.9 fantasy points and ranked ninth among quarterbacks last season. I think his success was a result of head coach Kevin O’Connell’s system, not to mention having Justin Jefferson, Jordan Addison and T.J. Hockenson at his disposal. In Seattle, the offense and the talent around him don’t bode well for him to duplicate his 2024 totals.
Isiah Pacheco, RB, Chiefs: This offseason couldn't have gone worse for Pacheco. First, the Chiefs signed Elijah Mitchell as a free agent. Then, the team kept Kareem Hunt on a one-year deal of his own ... the same Hunt who looked better than Pacheco down the stretch of last season. Pacheco should still open next season as the Chiefs' starting running back, but he's looking a committee dead in the eyes. This makes him more of a shaky RB2 than a player who could push for RB1 value in 2025.
George Pickens, WR, Steelers: Pickens is one of the biggest losers of the offseason, as the Steelers traded for DK Metcalf and gave Metcalf a massive $150 million contract. That is alpha, No. 1 wide receiver money, and it moved Pickens to second on the depth chart and second in terms of projected targets in the Steelers' passing game. We’re still not sure who the quarterback will be next season, but Pickens has still lost draft value regardless.
Aaron Jones/Jordan Mason, RBs, Vikings: Jones was initially a fantasy winner after he re-signed with the Vikings ... then the team traded for Mason. Can you say confusing backfield committee? While this is a nice upgrade for the team in real football, it's a bummer in fantasy land. With Mason in the mix, this looks like an imminent split backfield where picking which Vikes running back to play every week could be an exercise in futility. So, instead of each of these backs being RB2 options in fantasy, managers will instead be looking at a pair of potentially inconsistent flex starters.
Cooper Kupp, WR, Seahawks: Kupp, who will be 32 when next season starts, signed a three-year deal with Seattle. Once an elite fantasy wideout, he's played no more than 12 games in each of the last three seasons (18 combined missed games). Kupp has also run more than 60% of his career routes on the inside, which is where Jaxon Smith-Njigba ran 77.5% of his routes last season. When you factor in that new offensive coordinator Klint Kubiak's system in New Orleans ran the second-fewest 11 personnel in the league in 2024, and I'm not sure how this is a fit for Kupp. Couple that with his age, injuries and not playing in Sean McVay's system, and Kupp looks like a fantasy loser.
Anthony Richardson, QB, Colts: How quickly a player’s fantasy football value can change! Richardson went from a potential breakout player a year ago to someone who now has to compete to keep his starting job. The Colts signed Daniel Jones to a one-year contract, and reports suggest the team will hold an open competition for the starting quarterback spot. I’d still expect AR to emerge, but there’s a lot more uncertainty with Jones in the mix.
Jalen McMillan, WR, Buccaneers: McMillan was an absolute fantasy star down the stretch of last season, scoring 16-plus points in each of his final five games of the regular season. Of course, that all came after Chris Godwin had been lost for the year due to an injured ankle. Godwin deciding to take less money to remain in Tampa Bay will hurt McMillan’s statistical ceiling. I still like the talent, but he’s lost some of his luster.
Hollywood Brown, WR, Chiefs: Brown will return to Kansas City on a one-year, $11 million contract. He barely played last season, missing most of the year after a preseason injury. He’ll likely be behind Rashee Rice, Travis Kelce, and Xavier Worthy in the targets pecking order, but that could change if Rice and/or Worthy face league discipline for off-field issues. Still, Brown will struggle to be a reliable fantasy option, even in the Chiefs' pass attack.
Mike Gesicki, TE, Bengals: Gesicki returned to Cincinnati on a three-year, $25.5 million contract. Last season, he had 65 catches, 665 yards and 141.5 fantasy points. That was good enough to finish as the TE13. He’ll remain on the TE2 radar in drafts, but Gesicki’s ceiling is still limited with Ja’Marr Chase and Tee Higgins in the offense.
Rico Dowdle, RB, Panthers: Dowdle, a 1,000-yard rusher from a season ago, signed a one-year deal with Carolina. The Panthers won't have Jonathon Brooks (knee) next season and they cut Miles Sanders, so Dowdle will serve as the team's No. 2 back behind incumbent starter Chuba Hubbard. As a result, Dowdle can expect to see a steep decline in touches and fantasy value next season.
Juwan Johnson, TE, Saints: Johnson will return to New Orleans on a three-year, $30.75 million contract. It's a lot of money to pay an average NFL tight end, at least when you look at his career numbers. The Saints still have Taysom Hill and Foster Moreau, so Johnson will be hard-pressed to make a consistent impact in new head coach Kellen Moore's offense.
DeAndre Hopkins, WR, Ravens: Once considered an elite fantasy wideout, Hopkins, now entering his age-33 season, has signed with the Ravens. He is coming off a 2024 campaign that saw his numbers decline across the board, as he averaged fewer than seven fantasy points in his six games with Patrick Mahomes and the Chiefs. In Baltimore, he’ll be third or fourth in line for targets behind Zay Flowers, Mark Andrews and maybe Rashod Bateman. At this point, Hopkins is barely worth a look in the late rounds of most 2025 fantasy drafts.
Darius Slayton, WR, Giants: Slayton will return to New York on a three-year, $36 million contract. It's a nice deal for a wide receiver who has never had more than 50 catches or 770 receiving yards in a single season. He'll continue to start on the perimeter opposite Malik Nabers, but Slayton has no real chance for statistical growth in the Giants' passing game.
Joshua Palmer, WR, Bills: Palmer signed a three-year, $36 million contract with Buffalo. He's a deep threat, which is lacking in the Bills' passing game, but Palmer has rarely been a reliable fantasy option. In Buffalo, he'll likely start on the perimeter opposite Keon Coleman, with Khalil Shakir in the slot. The team still has Curtis Samuel too, not to mention tight end Dalton Kincaid. It's tough to expect Palmer to make a major fantasy impact in Buffalo.
This article was originally published on www.si.com as George Pickens, Sam Darnold Among Fantasy Football Losers During 2025 NFL Free Agency.
