What a strange (but fascinating!) deal in the middle of NFL free agency Day 2.
After giving Daniel Jones an, er, necessary contract extension last week, the New York Giants got him a large tight end in Darren Waller to mess around with in the middle of the field.
Meanwhile, after the Las Vegas Raiders committed to Jimmy Garoppolo and Jakobi Meyers, they decided hoping Waller would return to a star level of play wasn’t worth the energy anymore.
But who won this semi-stunner Tuesday trade? Let’s take a deeper look at all the ins and outs of this intriguing Big Blue exchange with the Silver and Black.
The details
According to NFL Network’s Tom Pelissero, here is the exact compensation between the Giants and Raiders:
Giants get: TE Darren Waller
Raiders get: 2023 third-round draft pick (No. 100 overall)
New York Giants
This is purely a low-risk, high-reward upside move for head coach Brian Daboll and GM Joe Schoen’s Giants.
At his best, Waller is a Pro Bowl-level receiving tight end and a matchup nightmare against safeties and linebackers. His 197 catches and 12 touchdowns from 2019-2020 proved as much. On a Giants team that previously had the league’s worst collection of pass catchers, Waller will likely immediately ascend to be the top option.
He also might already be one of the best tight ends in Giants history:
Darren Waller has more career seasons with 1,000+ receiving yards (2) than all other tight ends in @Giants history combined.
Mark Bavaro holds the franchise TE record with 1,001 receiving yards in 1986. https://t.co/vjg3h2i4FX
— NFL Research (@NFLResearch) March 14, 2023
However, it’s been two years since we saw the star version of Waller. He’s caught a total of 93 receptions, 1,053 yards, and five touchdowns over the last two years. And at age 30, it’ll probably be harder for him to return to a higher standard of play.
But, again, the Giants didn’t pay a high price for Waller. They surrendered the compensatory pick received in the Kadarius Toney trade, and the tight end has zero guaranteed money after 2023, per Over The Cap.
I might have just kept the draft pick myself, but it’s clear the Giants have designs on trying to take the next step in 2023. So, I don’t love acquiring Waller, but it won’t hurt them in the long run.
Grade: B
Las Vegas Raiders
Josh McDaniels has a plan (maybe?), and I can’t say I blame him.
After acquiring utility receiver Jakobi Meyers on Tuesday, Las Vegas cleared up roughly $11.8 million in salary cap space by subsequently dealing Waller away. And getting a third-round pick for a player whose performance took a precipitous dip lately should be considered a HUGE win.
Suddenly, a balanced receiving corps of Meyers, Davante Adams, and Hunter Renfrow has a bit of intrigue. McDaniels and Co. would’ve kept a big body like Waller around in ideal circumstances. But I think the Raiders had seen enough. It was better to recoup whatever value you could garner from a former building block past his prime rather than hoping he has a career renaissance.
And lest I forget: Third-round picks should become starters but are also perfect to throw into other trades. That’s something to keep an eye on.
Grade: A
