As NFL revenue and salary cap figures continue to climb, cash has been flying this offseason. In the opening week of free agency, NFL teams reportedly spent a record $5.83 billion in contracts, including $2.59 billion in guarantees.
Here are the biggest contracts signed in the lead-up to, and during, the 2026 NFL free agency cycle.
1. CB Trent McDuffie, Los Angeles Rams
Contract: Four years, $124 million ($100 million guaranteed)
The Rams didn’t wait for the opening bell of free agency to make a splash. At the cost of the 29th overall pick, a fifth-rounder, a sixth-rounder and a 2027 third-rounder, Los Angeles was able to swing a deal with the Chiefs to acquire top cornerback Trent McDuffie. The Rams followed up the move by signing McDuffie to a massive extension, making him the highest-paid cornerback in NFL history at $31 million annually.
Since entering the league in 2022, McDuffie has been elite, boasting the third-highest PFF overall grade (90.4) and tying for the third-highest PFF WAR rating (1.7). Over the same span, he is one of just three qualifying cornerbacks to earn a 90.0-plus PFF coverage grade.
PFF WAR Among CBs (2022-2025)
2. EDGE Jaelan Phillips, Carolina Panthers
Contract: Four years, $120 million ($60 million guaranteed)
The market for edge rushers was flooded with cash this free-agency cycle. None garnered a more lucrative deal than Jaelan Phillips. With the new contract, Phillips is set to make $36.2 million in the first year of his contract, a figure that places him second — behind only the Packers‘ Micah Parsons — in total cash in 2026. At an average annual value of $30 million per year, Phillips now ranks eighth among edge rushers, just behind Nick Bosa and Maxx Crosby, among others.
This past season, Carolina finished 31st in PFF pass-rush grade (60.5) and pressure rate (30.3%). Although Phillips missed significant portions of the 2023 and 2024 campaigns, he’s undoubtedly a potent pass rusher when healthy, ranking in the 91st percentile in pass-rush win rate (16.8%) over the past four seasons.
Jaelan Phillips’ Stable Pass-Rush Metrics (2022-2025)
3. WR Alec Pierce, Indianapolis Colts
Contract: Four years, $114 million ($60 million guaranteed)
With Pierce gaining a lot of momentum heading into free agency, the Colts deemed the receiver too valuable to let walk and backed up the Brink's truck to keep him in Indianapolis. Pierce is set to make $28.5 million per year on average, making him one of the 12 highest-paid receivers in the NFL. However, the real head-turner is the deal’s $84 million in total guarantees (including injury guarantees), which ties A.J. Brown for the fifth most among receivers.
While Pierce had been slowly building his NFL resume, 2025 was undoubtedly the breakout. The 25-year-old receiver recorded his first 1,000-yard season on his way to setting a career-best 81.0 PFF receiving grade. By season's end, Pierce had more than tripled his previous career high in PFF WAR for a campaign, finishing 11th among receivers.
Alec Pierce’s Career PFF WAR
4. EDGE Trey Hendrickson, Baltimore Ravens
Contract: Four years, $112 million ($60 million guaranteed)
The Ravens have been embroiled in controversy after nullifying the blockbuster trade for the Raiders‘ Maxx Crosby, which would have sent two first-rounders to Las Vegas in return for the elite edge rusher. While the order of operations is up for debate, Baltimore salvaged the situation by acquiring Hendrickson at a lower price than rumors suggested he was looking for.
At $112 million in total value over the life of the contract, Hendrickson’s deal ranks ninth among edge rushers — just above the aforementioned Crosby ($106.5 million). And with $60 million guaranteed at signing, Hendrickson’s contract ties Jaelen Phillips' in full guarantees.
The addition of Hendrickson will undoubtedly bolster a Ravens pass rush that struggled in 2025, ranking just 29th in PFF pass-rush grade (62.1) and 28th in pressure rate (31.4%). The veteran is one of six edge rushers to record a pass-rush win-rate above 20% over the past three seasons, and he also places in the 96th percentile in PFF pass-rush grade on true pass sets over that span.
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Contract: Four years, $100 million ($50.6 million guaranteed)
After slotting in at 31st in EPA per play allowed last season, the Commanders spared no expense to overhaul the defense, headlined by the signing of Oweh. The total contract is reportedly worth up to $100 million, with base figures placing the deal closer to $96 million. Per Sports Illustrated's Albert Breer, Oweh is scheduled to make $30 million in 2026, placing him eighth among edge rushers in earnings next season, tucked between Maxx Crosby ($30.78 million) and Aidan Hutchinson ($29.87 million).
Oweh recorded 11 sacks and a 17% pass-rush win rate in 2025, both of which ranked in the top 12 among edge rushers. The move will certainly bolster a Commanders pass rush that finished the year ranked 20th in pressure rate (35.4%).
Odafe Oweh’s PFF Grading Profile (2023-2025)
Honorable Mentions
QB Daniel Jones, Indianapolis Colts
Contract: Two years, $88 million ($50 million guaranteed)
The Colts had every intention of keeping Jones after placing the transition tag ($37.83 million) on him. Not long after, they agreed to re-sign him on a two-year contract worth up to $88 million, giving Jones the highest deal in average annual value ($44 million) this offseason. That deal places him eighth among quarterbacks in cash value over the next two seasons, just behind Brock Purdy ($88.10 million).
C Tyler Linderbaum, Las Vegas Raiders
Contract: Three years, $81 million ($60 million guaranteed)
Linderbaum's new contract reset the offensive line market as a whole. The deal earns him $27 million per year on average. That not only outpaces the next highest-paid center, Creed Humphrey, by $9 million, but also clears all interior offensive linemen by $3 million and would rank sixth among tackles.
Perhaps most interesting is the contract's structure. With Linderbaum’s 2028 salary fully guaranteed for injury at signing, and vested on the third day of the 2027 league year, 100% of his contract is included in practical guarantees.