2026 NFL Free Agency Grades: Colts Re-sign Alec Pierce; Kenneth Walker to Chiefs

One of the most optimistic times of the year for NFL fans has arrived. Free agency will open on Monday with the start of the legal tampering period, with several deals around the league expected to be completed. Were the moves your favorite team made smart? We’re grading every notable free-agency signing and even a few trades as the deals come in. So, let’s take a look at how we view some of the top signings and trades made around the league. [NFL Top 100 Free Agents] QB Malik Willis signs with the Miami Dolphins Henry McKenna: Willis will be the highest-paid QB on the open market, signing a three-year, $67.5 million deal with $45 million guaranteed, per multiple reports. Willis will join his former defensive coordinator and Dolphins head coach Jeff Hafley, along with Dolphins GM Jon-Eric Sullivan, who also came from Green Bay. The Dolphins will give Willis at least a year to prove himself in an offense that includes good skill players: RB Devon Achane and WR Jaylen Waddle. Willis will be tasked with doing what he did in Green Bay when given the chance, With the Packers, he converted his unique (and raw) gifts into a game-manager. Miami will have to turn him into a game-changer. At the combine, the Dolphins were concerned Willis’ contract would get bloated beyond what they could accommodate, per a source. But at $22.5 million per year, he lands just north of what the New York Jets gave Justin Fields last year. It’ll be fascinating to see how Miami gets under the cap, given they’re about to take on $99 million in dead money from Tua Tagovailoa’s impending release. Ultimately, I like this move. I like Willis. The risks are sizable. But this offseason won’t offer much in the way of young QBs with upside. The Dolphins chased their guy. Grade for Dolphins: A- WR Alec Pierce re-signs with Colts Ben Arthur: Pierce’s return is pivotal for a Colts’ offense that is looking to get back to the explosiveness it displayed at the start of last season. A homegrown talent with plenty of upside, the 25-year-old Pierce had a strong connection with quarterback Daniel Jones, who’s on the transition tag (at least for the time being). Pierce is a deep threat with a growing route tree, but he became more expensive than he needed to be. Indianapolis could’ve extended the former second-round pick before last season or earlier this offseason, when he would’ve been significantly cheaper. Grade for Colts: B- Kenneth Walker III signs three-year deal with Chiefs Eric D. Williams: Running backs matter. Just ask the Chiefs, who grabbed the top running back available at the start of free agency. The Super Bowl MVP for the Seattle Seahawks will not get a chance to defend the Lombardi Trophy next season with his former teammates. Instead, he’ll help Patrick Mahomes and Andy Reid chase another ring. Kansas City needed an upgrade to its running game from the backfield of Isiah Pacheco and Kareem Hunt. The Chiefs averaged just 106.6 rushing yards a contest last year, which was No. 25 in the NFL. And with Mahomes recovering from season-ending knee surgery, the Chiefs now have a bellcow running back to lean on in Walker. According to reports, it’s a three-year, $45 million deal with $28.7 million fully guaranteed. That’s a heavy investment to fix the running game for Kansas City for a player who had some injury concerns during his time in Seattle. Grade for Chiefs: B Cowboys trade for Packers edge rusher Rashan Gary Ralph Vacchiano: The Cowboys needed a pass rusher and Gary cost them a fourth-round pick, which seems like a high price to pay for a player the Green Bay Packers were prepared to release. Gary, 28, did have 7.5 sacks last season, but they all came in the first seven games of the season. He had zero over the last nine. Still, the Cowboys are banking on the fact that he’s averaged 7.5 sacks over the last six seasons. They’re also willing to take on the two years and $42 million left on his contract because they knew the edge market was going to be more expensive, for far less accomplished players. It’s an expensive risk, but less expensive and less risky than what Dallas expected to find in free agency. Grade for Cowboys: B Colts trade WR Michael Pittman Jr. to Steelers Arthur: The Steelers desperately needed wide receiver help alongside DK Metcalf and got that in Pittman, a two-time 1,000-yard receiver. The former second-round pick is a physical receiver and a yards-after-the-catch threat, so he fits the profile of Pittsburgh’s offense. The 28-year-old Pittman has missed just three games since 2021, making him hugely reliable. The contract the Steelers are giving Pittman and the draft compensation involved in the trade — late-round pick swap — are very palpable for someone who projects to be Pittsburgh’s WR2. This is a strong move overall for the Steelers and new head coach Mike McCarthy.. Grade for Steelers: A Jets trade for Dolphins S Minkah Fitzpatrick Vacchiano: The 29-year-old Fitzpatrick had a down season in Miami last year after three straight Pro Bowl years in Pittsburgh, but he’s still a perfect fit for the Jets. He’s not the dominant player he was a few years ago, but he’s low-risk, coming at the cost of a seventh-round pick and a three-year, $40 million deal. Embattled Jets head coach Aaron Glenn is taking over the defense and wants smart veterans who can run it. Fitzpatrick fits that profile. He also has much-needed ball-hawk skills, even though he had just two interceptions over the last three seasons (the Jets had zero interceptions last season, so they’ll take any help they can get in that department). He’ll help stabilize a secondary that was mostly awful last season, especially after the Sauce Gardner trade. Grade for Jets: B+ Rams add another CB, sign Jaylen Watson Williams: The Rams took a sledgehammer to the main weaknesses of the team this offseason: the defensive secondary. After giving up four picks – including a first-round selection – in a trade with the Kansas City Chiefs for Southern California native Trent McDuffie and signing him to the richest cornerback contract in league history, Los Angeles went and grabbed his teammate, Jaylen Watson, in free agency. According to reports, the Rams signed Watson to a three-year, $51 million deal that includes $34 million guaranteed. Los Angeles has four cornerbacks set to become free agents next week in Cobie Durant, Derion Kendrick, Ahkello Witherspoon and Roger McCreary. They’ve found replacements to upgrade that position group in McDuffie and Watson. However, after allocating money to outside free agents, the Rams might need to turn their attention to star receiver Puka Nacua, who is eligible for a new deal as he enters the final year of his rookie contract. Grade: B-plus