The Kansas City Chiefs restructured quarterback Patrick Mahomes' contract this week to create some much-needed salary cap space going into the 2026 season, according to ESPN. The restructuring converts $54.45 million of Mahomes' 2026 salary into a signing bonus, lowering his cap number to $34.65 million. The move creates $43.65 million in cap space and marks the fourth straight year the Chiefs have restructured Mahomes' contract. KC entered the offseason more than $57 million over the salary cap and will still need to make some financial maneuvers after restructuring Mahomes' contract. The Chiefs missed the playoffs in 2025 for the first time in a decade after reaching the Super Bowl in each of the previous three seasons. Mahomes will now count for an additional $11 million against KC's cap in each of the next four seasons, bringing his total cap number to $85 million for 2027.

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Dynasty | The Seahawks are unlikely to use the franchise tag on running back Kenneth Walker. Dynasty Analysis: The reigning Super Bowl MVP may not be a priority with Jaxon Smith-Njigba up for an extension and Seattle having several other free agents. The torn ACL of Zach Charbonnet complicates matters but Walker is going to get paid this off-season, regardless. It's quite possible he signs with a team to be their true RB1, a move that will clearly help his dynasty ranking and ADP.

Dynasty | The Commanders have been linked to free agent tight end Isaiah Likely. Dynasty Analysis: Likely should be in high demand this off-season, especially for teams looking for a solid target to roam the middle of the field. Likely has been up and down during his tenure in Baltimore but has also shown some flashes of greatness. Washington makes sense as Zach Ertz tore his ACL and is hardly going to be looked upon as a sure thing coming off injury. Regardless, Likely's value will increase should he land good money and a true starting role.

Dynasty | Former Steelers receiver Robert Woods has retired from the NFL. Dynasty Analysis: "Bobby Trees" signed a one-day contract with the Rams to make it official today. Woods had back-to-back 1,000-yard seasons for the Rams in 2018 and 2019 but was never a really consistent difference maker in fantasy or reality through his 12 years in the league that included stops in Buffalo, Los Angeles, Tennessee, Houston and Pittsburgh. He can be safely dropped in dynasty leagues.

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Wide receiver Robert Woods announced his retirement from professional football on Tuesday on his Instagram, according to Omar Ruiz of the NFL Network. Woods was with the Pittsburgh Steelers in training camp last summer but requested his release before the start of the regular season, and he never latched on with another team. The 33-year-old wraps up a successful 12-year NFL career, having caught 683 of his 1,093 targets for 8,233 yards and 38 touchdowns in 171 regular-season games played. Woods was originally a second-round pick in 2013 out of USC by the Buffalo Bills, and he played the first four years of his career with the Bills. He won a Super Bowl ring with the Los Angeles Rams in 2021. In Woods' final NFL campaign in 2024 with the Houston Texans, he caught 20 of 30 targets for 203 yards and no touchdowns.

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Los Angeles Rams WR Robert Woods announced his retirement from the NFL on Tuesday, Feb. 17.

From TheHuddle

The Cincinnati Bengals plan to gather information about impending free-agent defensive end Trey Hendrickson's market at the NFL scouting combine in late February in Indianapolis, according to Kelsey Conway of The Cincinnati Enquirer. It seems likely that Hendrickson will end up walking in free agency, but there is also a possibility that Cincy looks to place the franchise tag on the 31-year-old veteran and then attempt to trade him. That scenario is unlikely, especially since Hendrickson played in only seven games in 2025 and ended the year on Injured Reserve with a hip/pelvis injury that required core-muscle surgery. The Bengals used the franchise tag on him last year, so tagging him a second straight season would cost them $30.2 milion in 2026. Despite his injury, Hendrickson will have plenty of suitors if he makes it to the open market after having back-to-back 17.5-sack seasons in 2023 and 2024.

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Tampa Bay Buccaneers impending free-agent wide receiver Mike Evans will play in 2026, agents Deryk Gilmore and Darren Jones told Kimberley A. Martin of ESPN. Evans will return for a 13th season after an injury-plagued 2025 campaign that limited him to a career-low eight games, but Martin also reports that the 32-year-old future Hall of Famer will explore his options in free agency. It's not a foregone conclusion that Evans will return to play in Tampa in 2026, although if he does sign with another organization, it will almost certainly be a team with Super Bowl aspirations. A broken collarbone prevented the former first-rounder from reaching 1,000 receiving yards for the 12th straight year. When healthy, Evans caught 30 of his 62 targets for 368 yards and three touchdowns in eight games. Evans can still be productive when healthy, but depending on where he lands in free agency, he may not be a lock as a WR1 as he nears the end of his illustrious career.

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Tampa Bay Buccaneers WR Mike Evans will play in 2026, but is exploring his options in free agency.

Fantasy Spin: Evans is comng a injury-plagued season in 2025 after starting his career with nothing but consistency. Him returning to the Bucs remains up in the air given the build of the wide receiver room, which makes him one to watch when free agency kicksoff.

From TheHuddle

The Baltimore Ravens haven't made progress in their efforts to sign impending free-agent tight end Isaiah Likely to a contract extension, according to Jeff Zrebiec of The Athletic. Meanwhile, fellow TE Mark Andrews signed a four-year, $56 million contract with the team in September of 2021. Zrebiec writes that it will be very tough for the Ravens to have two guys making top-eight TE money with all their other needs. The 25-year-old Likely had a disappointing fourth year in the NFL in 2025, catching 27 of his 36 targets for a career-low 307 yards and only one touchdown in 14 games. He never really got on track after injuring his foot in training camp last summer. The good news for him is that his disappointing campaign is unlikely to impact his market in free agency this offseason. Likely is versatile and can be a significant weapon in the passing game, but he hasn't been able to stand out in fantasy in Baltimore with Andrews also involved. A change of scenery could be what Likely needs to take the next step.

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Atlanta Falcons running back Tyler Allgeier has been a key piece of the team's backfield in his four years since he was taken in the fifth round in 2022 out of BYU, rushing for 2,876 yards and 18 rushing touchdowns. Allgeier had a franchise rookie record of 1,035 rushing yards in 2022 and ranks seventh in the NFL in EPA per carry among RBs with more than 250 carries in that span. He's one of just two RBs in the league with more than 500 carries in that time who have not fumbled. However, The Athletic's Josh Kendall writes that "it's hard to imagine how Atlanta will be able to bring him back." The Falcons probably won't offer the 25-year-old starting RB money as the backup to star Bijan Robinson. Allgeier has shown an interest in returning to Atlanta, but it probably isn't in the cards. He had 514 rushing yards and a career-high eight touchdowns on 143 carries in 2025 and will be in high regard if he hits the open market. Depending on where he lands, Allgeier's fantasy value could skyrocket in 2026.

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The Athletic's Zack Rosenblatt believes that the New York Jets could release quarterback Justin Fields this offseason. The Jets are going to land in the range of $70 million to $80 million in salary cap space in 2026 without cutting anyone, and they don't have a ton of options for cap savings. Fields signed a two-year, $40 million deal in free agency ($30 million guaranteed) last year, but he was a disaster in 2025 and was eventually benched in favor of veteran Tyrod Taylor. It's unlikely that a team will want to trade for the 26-year-old. If they outright cut him, they'll incur a $22 million dead-cap hit and only $1 million in savings. If they designate him as a post-June 1, they can spread the cap hit out over two years and save $10 million. Rosenblatt believes the Jets will outright cut Fields since they aren't lacking in cap space. The former 11th overall pick has elite rushing upside, but he just has not improved as a passer. Fields could compete for a starting gig elsewhere, but nothing will be guaranteed going into 2026.

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Dynasty | The Dolphins have released wide receiver Tyreek Hill. Dynasty Analysis: This seemed inevitable for months but it's now come to fruition. Hill is now a free agent, but one also coming off a pretty horrific knee injury. It seems likely his best days are behind him but also likely a team will take a chance based on his explosiveness. It's fair to wonder just how many teams will be interested in a player with his kind of baggage but he should land somewhere, His dynasty value just won't have much of a chance to increase with his age, however.

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Dynasty | The Jets could use the franchise tag on running back Breece Hall. Dynasty Analysis: The Jets are clearly a mess but Hall has been one of their few bright spots through the years. The real question is if New York would keep him even after placing the tag on him as they could trade him to a team after franchising him. There are going to be a lot of moving parts here but the bottom line is he may not end up hitting free agency in the traditional way. Regardless, Hall's dynasty value is going to be directly tied to his landing spot.

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Dynasty | Impending free agent Alec Pierce is deemed to be a good fit for the Titans. Dynasty Analysis: It's officially #speculation season. Still, it makes sense as Cam Ward could use a speedster to help open up an offense that looked putrid at times last season. Pierce led the league in terms of yards per catch at 21.3 and his dynasty value could increase should he find a team where he's more of a focal point of the offense like Tennessee.

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Dynasty | Free agent wide receiver Mike Evans has been linked as a possible fit with the Bills. Dynasty Analysis: Evans posted a 30/368/3 line last year in a career-low eight games, snapping his NFL-record for consecutive seasons with at least 1,000 receiving yards at 11. Now 32, it's fair to wonder just what he may have left in the tank. However, we've seen Evans defy logic many times and doubting his ability has often made people look like fools. His dynasty value won't change much as his career seems to be on a year-to-year basis but landing on a solid team could make him a great short-term dynasty target for a contender, similar to that of Davante Adams.

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Dynasty | Free agent quarterback Malik Willis has been connected to Miami. Dynasty Analysis: It seems like every day brings us a new report connecting Willis to the Dolphins and today is no different. The fact is he's the best free agent quarterback on the market and that speaks volumes about the depth and talent available this season as Willis is still very unproven. In the end, it really looks like he's going to get his chance to start in the league and his dynasty value is clearly on the rise.

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Dynasty | The Chiefs have been linked to free agent running back Travis Etienne. Dynasty Analysis: Etienne has had his fair share of ups and downs in his career but he would represent a solid upgrade over the likes of Isaiah Pacheco and Kareem Hunt at this stage in their collective careers. It will be interesting to see exactly what the Chiefs do at running back as they've also been connected to the draft's top runners, including Jeremiyah Love. Regardless, Etienne's dynasty value is going to be extremely volatile until we see if he ends up on a new team for the first time in his career.

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Dynasty | Free agent running back RIco Dowdle has been connected to the Denver Broncos. Dynasty Analysis: Dowdle was supposed to be a backup to Chuba Hubbard last season but ended up being the superior option, running for over 1,000 yards on 4.6 yards per carry - nearly identical production to his breakout season in Dallas the previous year. Dowdle is going to find work this season as player no worse than a big part of a committee and could even be signed to carry the load for a team. His dynasty value could go way up or way down in the coming months, so he simply remains a high-upside hold.

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Before a shin injury cut his rookie season short, Seattle Seahawks wide receiver Tory Horton made five touchdown grabs over his final seven games of 2025 while complementing Offensive Player of the Year Jaxon Smith-Njigba's route-running precision with explosive downfield speed. Perhaps not coincidentally, once Horton was lost for the year, the second half of Smith-Njigba's season, while still dominant, fell off the record-setting pace with which he opened 2025. Seattle made a mid-season trade for speedster Rashid Shaheed, but he wasn't able to recreate Horton's success. With Shaheed headed toward unrestricted free agency, and Cooper Kupp turning 33 before the start of the 2026 season, Horton could be given every opportunity to earn a spot in two-wide sets and is likely to see his value steadily increase as the season nears.

From RotoBaller