The NFL free agency tampering period doesn’t begin for week, but the market’s already moving in a fascinating direction on high-profile names – especially considering the Patriots’ areas of need this offseason.
Indianapolis wide receiver Alec Pierce appears to be in a fluid situation with the team, as insider Jordan Schultz reported Tuesday that the Colts will use the transition tag on quarterback Daniel Jones. That designation allows Jones to go out and test the market, but give the Colts the chance to match whatever offer he attracts as a free agent. More importantly, it forces the Colts to ramp up negotiations with Pierce, lest he enter free agency next week.
Pierce making it to the open market would provide an increasingly rare opportunity for any team to add a receiver in his prime, coming off a season in which he recorded more than 1,000 receiving yards, without sacrificing draft capital. This cash-only cost, paired with Pierce’s deep ball acumen, make him an ideal target for New England, as they look to support Drake Maye while he’s still under his rookie contract. But, he’ll be far from cheap: Spotrac estimates his average annual salary will exceed $20 million on his next contract, and a free agency bidding war could send that valuation even higher.
The Patriots have more than $39 million in cap space in 2026. Their biggest consideration will be extending cornerback Christian Gonzalez on a long-term deal, but they rank 10th in all available cap space among NFL teams.
Bengals defensive end Trey Hendrickson will hit free agency, according to ESPN’s Adam Schefter, two years after winning All-Pro honors. Hendrickson, 31, spent five years with the Cincinnati Bengals and established himself as a top pass rusher with back-to-back Pro Bowl honors and four straight seasons of double-digit sacks. He sustained a hip injury last fall and finished the year on injured reserve.
New England must improve its pass rush from 2025, and they’re already likely to lose K’Lavon Chaisson, who will get a much bigger payday than the one-year contract the Patriots signed him to last spring. Hendrickson would be a pricey addition, but he’s a free agent who deserves to at least have his tires kicked by a team in the Patriots’ position. His most recent salary was about $29 million renegotiation settled with the Bengals after dispute last year.