While NFL free agency slowed down on Wednesday, plenty of transactions were still orchestrated.
After looking at the biggest winners from Day 3 of free agency, it’s time to observe the other side of the coin. Who were the biggest losers from Wednesday’s action?
NFL Free Agency Day 3 Losers
Jacksonville Jaguars
The Jaguars wanted to re-sign wide receiver Calvin Ridley, bringing him back to join a wide receiving corps that still includes Christian Kirk and added Gabe Davis this week.
Jacksonville was thought to be solely competing with the New England Patriots, but the division-rival Tennessee Titans swooped in to sign Ridley to a four-year, $92 million deal with $50 million fully guaranteed.
While the Jags shouldn’t have necessarily matched Tennessee’s offer, Jacksonville made a series of mistakes even to allow Ridley to hit the market.
General manager Trent Baalke initially botched matters by failing to get pass rusher Josh Allen signed to a long-term contract as early as possible. While Allen’s 17.5 sacks in 2023 were a career-high, his underlying productivity metrics always suggested he was capable of an elite performance.
Because Jacksonville had to use the franchise tag to retain Allen this offseason, it couldn’t deploy the tender on Ridley. A Ridley franchise tag would have cost the Jaguars $21.816 million — less than the $23 million average annual value received from the Titans.
Jimmy Garoppolo
The Las Vegas Raiders officially released Jimmy Garoppolo on Wednesday, cutting the veteran quarterback in a move that was telegraphed weeks ago.
The NFL issued a two-game PED suspension to Garoppolo in February. That ban voided his previously-guaranteed $11.25 base salary for 2024, allowing the Raiders to exit his contract easily.
Garoppolo’s contract structure essentially forced Las Vegas to wait until Wednesday, the start of the 2024 league year, to release the 32-year-old. Many of the league’s backup quarterback jobs are already spoken for by now. Joe Flacco, Jameis Winston, and Tyrod Taylor were among the QB2s to find new homes this week.
The Denver Broncos could theoretically offer Garoppolo a starting role. But if Denver looks elsewhere, Garoppolo could make sense for the Houston Texans, Kansas City Chiefs, Los Angeles Chargers, or Seattle Seahawks.
Jordan Whitehead
Jordan Whitehead barely missed a snap after signing with the New York Jets before the 2022 season. The veteran safety helped stabilize the back end of Gang Green’s defense for the better part of two years, and he posted one of the standout defensive performances of the year in Week 1 when he picked off Buffalo Bills QB Josh Allen three times.
And yet, Whitehead had to take a pay cut to sign with the Tampa Bay Buccaneers, the team that initially drafted him, on Wednesday. He received $14.5 million over two years from the Jets, played well, and then had to accept two years and $9 million from the Bucs. Shrug.
D.J. Humphries
A victim of the NFL’s cold reality, D.J. Humphries was released by the Arizona Cardinals on Wednesday. A first-round pick in 2016, Humphries started nearly 100 games in the desert before tearing his ACL near the end of last season.
KEEP READING: 2024 Free Agents by Position
The Cardinals moved on today, clearing Humphries’ $16 million base salary and immediately signing a replacement in former Cincinnati Bengal Jonah Williams.
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