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Veteran wide receiver Adam Thielen will officially return for a 12th NFL season in 2025 after agreeing to a a revised contract with the Carolina Panthers, sources tell ESPN's Jeremy Fowler. Thielen will now look to add to his 8,311 yards and 64 touchdowns in his career. The 34-year-old veteran wideout briefly contemplated retirement after the 2024 season but isn't quite ready to hang up his cleats after catching 48 passes for 615 yards and five touchdowns in a career-low 10 starts last year. A hamstring injury cost him seven games, but he still managed to lead the team in receiving yards and touchdowns. Thielen had a strong 103-1,014-4 line in 17 starts in 2023 in his first year in Carolina and has developed a strong chemistry with young quarterback Bryce Young. He's definitely an injury risk in fantasy, but when healthy, he should have a decent target floor as a WR4/flex in weekly fantasy lineups.

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The Baltimore Ravens re-signed wide receiver Tylan Wallace to an undisclosed one-year deal on Wednesday evening, according to The Athletic's Jeff Zrebiec. Wallace wasn't fantasy relevant in 2024 in his fourth year in Baltimore, but it was notable that he set career-highs across the board in catches (11), targets (12), receiving yards (193) and touchdowns (one) in 17 regular-season games (no starts). The 25-year-old also contributed on as a key return man on special teams. He'll be bumped further down the receiving depth chart in 2025 after the addition of DeAndre Hopkins, but Wallace wasn't realistically going to be on the fantasy radar anyway. Wallace was taken in the fourth round (131st overall) in 2021 out of Oklahoma State. He had just seven catches on 15 targets for 67 yards and no touchdowns in his first three years in the league.

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Free-agent defensive tackle Dalvin Tomlinson is signing a two-year, $29 million deal with $16 million guaranteed with the Arizona Cardinals on Wednesday night, according to NFL Network's Ian Rapoport. It didn't take Tomlinson long to latch on with another team after he was cut by the Cleveland Browns on Monday. The 31-year-old veteran defensive lineman will now head to the NFC West to help a Cardinals defense that had a non-existent pass rush in 2024. Although Tomlinson should be a starter for Arizona on the interior of their defensive line, he probably won't boost their pass rush all that much. He started in 16 games apiece in each of the last two years for Cleveland and totaled six sacks while also adding 54 tackles (25 solo), 10 tackles for loss and 30 QB hits. The former second-rounder by the New York Giants in 2017 out of Alabama has a modest 19 sacks in eight NFL seasons over 125 games started.

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The Arizona Cardinals tendered an offer to restricted free-agent wide receiver Greg Dortch on Wednesday night. If Dortch signs the tender, he'll cost the team $3.3 million for the 2025 season. The Cardinals now have the right to match any offer that he receives from another team in free agency. The 25-year-old pass-catcher has been with the Cardinals each of the last four seasons and has caught 116 of his 158 targets in that time for 1,104 yards and seven touchdowns in 54 games (14 starts). In 17 games (four starts) in 2024, he had 37 receptions on 50 targets for 342 yards and a career-high three touchdowns. While Dortch's numbers aren't eye-popping for fantasy managers by any means, he's had a key role in the desert and has been durable, only missing two regular-season games. Depending on what the Cardinals do in the draft, Dortch figures to open the 2025 season as the team's No. 3 wideout.

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Free-agent quarterback Mac Jones agreed to terms with the San Francisco 49ers on Wednesday on a two-year deal worth $7 million with $5 million guaranteed, a source tells NFL Network's Ian Rapoport. The maximum value of the deal is for $11.5 million. After one season with the Jacksonville Jaguars in which he appeared in 10 games (seven starts) due to multiple injuries to starter Trevor Lawrence, Jones will head to the NFC for the first time to back up Brock Purdy in 2025. The 26-year-old looked like a backup in his 10 appearances for the Jags a year ago, completing 65.3% of his 262 pass attempts for 1,672 yards, eight touchdowns and eight interceptions. If Jones were forced into significant playing time again in 2025 due to a Purdy injury, he'd at least be set up better with better offensive pieces around him in San Fran.

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The Los Angeles Chargers are signing free-agent wide receiver Mike Williams to a one-year deal worth up to $6 million on Wednesday night, sources tell FOX Sports' Jordan Schultz. Williams spent the first seven years of his career in L.A. and will now reunite with quarterback Justin Herbert as a big, physical downfield threat. The 30-year-old veteran never developed into the consistent pass-catcher they hoped he'd be when they took him seventh overall in 2017 out of Clemson, although he did have a 10-touchdown season in 2018 and reached the 1,000-yard mark twice. In his first year away from the Chargers in 2024, he spent time with the New York Jets and Pittsburgh Steelers and failed to make an impact, catching a combined 21 passes on 34 targets for 298 yards and just one score in 18 games (five starts). Due to familiarity and opportunity, Big Mike should be able to bounce back as a starter with the Bolts, but consistency could be a real issue.

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Dynasty | The Panthers have signed running back Rico Dowdle. Dynasty Analysis: #buzzkill. Dowdle was great for the Cowboys last season, posting his first ever 1,000-yard season in the process. Dallas left him out in free agency and have now lost him to Carolina. He'll project as the backup to Chuba Hubbard but will be seen by the Panthers as a very clear backup or change of pace option to Hubbard, who had an amazing 2024 campaign. This is going to be a signing that is way better in reality than fantasy as Dowdle's value and ADP is going to tank hard as he's accepted a backup job instead of choosing to go somewhere that could have given him a chance to start.

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Detroit Lions running back Craig Reynolds has re-signed with the organization on Wednesday. The 28-year-old has agreed to a one-year deal with the Lions. Reynolds will now enter his fifth season as a backup option in Detroit. He has rushed for 650 yards with one touchdown over 48 games with the team. Reynolds would need a few injuries to happen before he would be someone worth considering in fantasy leagues, but this is a good depth move for Detroit.

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Cleveland Browns quarterback Bailey Zappe has been non-tendered by the organization on Wednesday. Zappe will now hit the open market after making one start with the Browns last season. The 25-year-old is a former 4th round pick of the New England Patriots from 2022. Zappe has thrown for 2,223 yards with 12 touchdowns and 14 interceptions between 15 games (nine starts) between the Patriots and Browns. He will look to catch on elsewhere as a backup option.

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New York Jets linebacker C.J. Mosley has been released by the organization on Wednesday. The Jets have decided to move on from Mosley after an injury-riddled 2024 campaign. The organization will save $4 million by releasing the 32-year-old linebacker. Mosley only managed to play in four games last season, but has been an All-Pro linebacker throughout his career. Before last season, Mosley had recorded 150 tackles or more in each of the last three seasons. There should be a good market for the veteran linebacker who has recorded over 1,000 tackles during his 10-year career in the league.

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The Carolina Panthers have signed free-agent running back Rico Dowdle on Wednesday. The two sides have agreed on a one-year, $6.25 million deal for the upcoming season. On paper, Dowdle is a good fit with the Panthers who certainly need depth behind Chuba Hubbard. Last season, Dowdle rushed for over 1,000 yards across 15 games with the Dallas Cowboys. It's also worth noting that Dowdle hauled in 39 receptions for 249 yards and three touchdowns through the air. This is a low-risk move that should help the Panthers while former second-round pick Jonathon Brooks (knee) recovers from injury.

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The Philadelphia Eagles have reached an agreement with free-agent running back AJ Dillon (neck) on Wednesday. It will be a one-year deal where Dillon will serve as the primary backup to Saquon Barkley in Philly. The 26-year-old is reportedly fully healthy after missing all of last season due to a neck injury. Before that, Dillon was the primary backup to Aaron Jones in Green Bay for four seasons. Dillon has rushed for nearly 2,500 yards during his career with 16 touchdowns on the ground. His fantasy outlook doesn't look great behind Barkley, but injuries do happen. Dillon is a quality backup and someone that can be counted on if Barkley is forced to miss time.

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Dynasty | The Indianapolis Colts have signed free agent running back Khalil Herbert. Dynasty Analysis: Herbert joins Indianapolis after flaming out in both Chicago and Cincinnati last season. He'll presumably battle someone like Tyler Goodson for the backup job to Jonathan Taylor, but that's really where the upside stops. Herbert was once a dynasty darling with a big opportunity in Chicago, but things have just not gone well for him. He's no lock for a roster spot with the Colts, so he shouldn't have one locked down on your dynasty roster, either.

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Dynasty | The Eagles have signed running back AJ Dillon. Dynasty Analysis: The longtime Packer looked to have a career-ending neck injury back in 2023, but he's apparently been cleared to return and quickly found a job with the Super Bowl Champions. He'll presumably take the job of the newly departed Kenneth Gainwell as a backup to Saquon Barkley, but it's hard to see "Quadzilla" really making much of an impact. If you have Barkley and need a handcuff, he could be the one. However, there's a lot of time between now and the start of next season and that's being a little presumptuous. At this point, he needs to stay on dynasty waiver wires.

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Dynasty | The Jets have officially released quarterback Aaron Rodgers. Dynasty Analysis: The Jets are going to get around $10 million in cap relief and now turn the keys to the franchise over to the newly signed Justin Fields. As for Rodgers, he's now a free agent for the first time in his career. Now seemingly way past his prime, A-Rod is likely going to need to choose between Pittsburgh, the New York Giants, and possibly the Minnesota Vikings. He's said to be wanting to play two more seasons, but he's going to need to play a lot better than he did for most of last season to make that happen. Having lost most of his mobility, Rodgers looks like a QB2 moving forward in dynasty leagues and one without too much fantasy appeal at that.

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Dynasty | The Browns are hosting quarterback Russell Wilson on a free agent visit. Dynasty Analysis: Well, the plot thickens. Cleveland has a premium draft pick (#2 overall) and could use it on a signal caller this year. They also just traded for Kenny Pickett. Bringing in Wilson could indicate they really don't intend to have Pickett call the shots year and signing Wilson could indicate they're leaning away from taking Cam Ward or Sheduer Sanders at #2. After all, having a rookie and two veterans under contract doesn't seem to make a lot of sense. We'll see what materializes here but it's clear we have some raised eyebrows at the moment.

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Dynasty | The Broncos have signed tight end Evan Engram to a two-year contract. Dynasty Analysis: The eight-year veteran has 496 career catches for 4,922 receiving yards and 25 total touchdowns, including his monster 114/963/4 season in 2023. Last year was a mess as Engram battled through injuries to post just 47 catches for 365 yards and one lone touchdown for the Jags. Now 30, it's fair to wonder just what he may have left. However, we've seen Engram go on some serious tears and he'll play the "joker" role in Sean Payton's offense - one that has real fantasy appeal to it. Engram looks like a solid veteran trade target in dynasty leagues and it would be surprising if he wasn't a top-ten option next season.

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The Carolina Panthers are signing Los Angeles Rams free-agent linebacker Christian Rozeboom to an undisclosed one-year deal on Wednesday, a source tells NFL Network's Ian Rapoport. Rozeboom played in 17 games (11 starts) in 2024 and recorded a career-high 135 tackles (69 solo), his first career sack, five tackles for loss and an interception. The 28-year-old looked great with increase playing time last year and should continue to play regularly as a key linebacker for a Panthers defense that has made defense a priority in free agency. In addition to Rozeboom, they've also added Tre'von Moehrig, Patrick Jones, Bobby Brown and Tershawn Wharton. Rozeboom, an undrafted free agent out of South Dakota State, should start at inside linebacker in 2025 for the Panthers and will be a nice cheap flier with upside in IDP fantasy formats.

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The Indianapolis Colts and free-agent running back Khalil Herbert reached an agreement on an undisclosed one-year deal on Wednesday, according to ESPN's Adam Schefter. Herbert began the 2024 season with the Chicago Bears and had only eight carries for 16 yards and a touchdown in six games before being traded to the Cincinnati Bengals, where he finished with 28 carries for 114 yards and no touchdowns in eight games behind Chase Brown. Now in Indianapolis, the 26-year-old will have a similar backup role to Jonathan Taylor. Because he's unlikely to see much volume unless Taylor misses time with an injury, Herbert will mainly be a handcuff in deeper leagues for those that draft Taylor. The former sixth-rounder (217th overall) by the Bears in 2021 has averaged 4.8 yards per carry on 400 rushing attempts for 1,905 yards and nine TDs in his four years in the NFL.

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The Dallas Cowboys are in the final stages of acquiring linebacker Kenneth Murray from the Tennessee Titans on Wednesday in an exchange of late-round picks, sources tell NFL Network's Ian Rapoport. It's the second trade of the day for the Cowboys, who also acquired former first-round cornerback Kaiir Elam from the Buffalo Bills in exchange for two future draft picks. Murray, 26, is another former first-rounder (23rd overall) by the Los Angeles Chargers in 2020 out of Oklahoma. Unlike Elam, he's been a starter in all five of his NFL seasons. After spending the first four years of his career in L.A., Murray had 95 tackles (57 solo), a career-high 3.5 sacks, eight tackles for loss, five QB hits, an interception and a forced fumble in 14 starts in his lone season with the Titans in 2024. Murray has two 100-plus-tackle seasons in his career and should remain on the IDP map in Dallas as an every-down starter.

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