The NFL is into “Phase Three” of the off-season, which is the final stage of the off-season program before contact practices begin with training camp in late July. We’ve seen a steady stream of news since OTAs (organized team activities) started in May, and it always gets a little more interesting in June when veteran players are required to report for one mandatory minicamp unless they have an excused absence.
I went team by team to round up the most important fantasy headlines coming out of all 32 workouts. I’ll update this article through June 12, the final day of team activities in Phase Three. Check back often for regular updates!
ADP data used in this article is based on the last month of drafts with our partners over at Underdog Fantasy…Each news item will have a date at the end of it for when it was updated or added to the article.
AFC East
Buffalo Bills
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Miami Dolphins
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New England Patriots
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New York Jets
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AFC North
Baltimore Ravens
- Derrick Henry and the Ravens agreed to terms on a two-year, $30 million contract extension, which includes $25 million guaranteed. Henry is the first RB over 30 years old to average $15 million per year. His first season in Baltimore went even better than expected, ranking as the RB4 (19.8 FPG). He finished tied for the league lead in rushing TDs (16) and behind only Saquon Barkley in rushing yards (1921). Henry hasn’t shown any signs of slowing down entering his age-31 season, leading the league in YACO (854) and ranking second in explosive yards (803). Henry’s ceiling is limited by his lack of passing-game involvement, but he’s a near lock to score double-digit TDs if you want to bet on him at his ADP (14.3, RB6). (Added May 20)
Cincinnati Bengals
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Cleveland Browns
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Pittsburgh Steelers
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AFC South
Houston Texans
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Indianapolis Colts
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Jacksonville Jaguars
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Tennessee Titans
- Brian Callahan is talking about using a split backfield between Tony Pollard and Tyjae Spears for the second straight off-season. He suggested a bigger back like Julius Chestnut or Kalel Mullings could even see time. Callahan said, “In a perfect world, it’s a healthier division of labor. I think [Pollard] ended up carrying the ball a lot. He was our most productive running back. Tyjae had some injuries early, too, so [Pollard] had to play a lot early. Tyjae sort of came on as the year went on further. I like both of those players a lot. I think we can do a better job of managing that load so they both play a little more evenly and allow us to maybe have a spot for a third back between Julius and Kalel — a heavier style back and runner.” Pollard easily paced Spears in snap share (69%>42%), carry share (62%>29%), and route share (47%>36%) in one of the NFL’s worst offenses last season. Pollard (78.3, RB25) and Spears (137.7, RB40) are appropriately priced heading into the summer, but adding a third back in short-yardage situations would cap this backfield’s already limited upside. (Added May 20)
AFC West
Denver Broncos
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Kansas City Chiefs
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Las Vegas Raiders
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Los Angeles Chargers
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NFC East
Dallas Cowboys
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New York Giants
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Philadelphia Eagles
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Washington Commanders
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NFC North
Chicago Bears
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Detroit Lions
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Green Bay Packers
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Minnesota Vikings
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NFC South
Atlanta Falcons
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Carolina Panthers
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New Orleans Saints
- Derek Carr surprisingly announced his retirement in early May, which left a huge void at the top of New Orleans’ depth chart heading into the season. Second-round pick Tyler Shough is immediately the favorite to be the QB1, and Spencer Rattler and Jake Haener are the only other options at quarterback. Kellen Moore is in no rush to add a veteran quarterback to his quarterback room at this point in the off-season, as he said, “We’ll give these guys a bunch of opportunities” before considering bringing in any outside help. Shough won’t add much fantasy value as a runner, which makes him a QB3 option even as the favorite to be the Week 1 starter. New Orleans’ entire offense should be downgraded with Carr out of the mix and the 40th overall pick running the show. (Added May 20)
Tampa Bay Buccaneers
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NFC West
Arizona Cardinals
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Los Angeles Rams
- Kyren Williams told the Los Angeles Times that he’s feeling good about a potential contract extension as he heads into the final year of his rookie contract. He didn’t indicate if he would sit out voluntary OTAs in late May or mandatory minicamp in June without a new deal in place. The Rams have more leverage to let him play out the final year of his contract by selecting Blake Corum and Jarquez Hunter in the last two drafts. Williams could go down as a value at his current ADP (33, RB12) if the Rams reward him with a new deal, which would be a sign that they are fully committed to him at the top of the depth chart. Sean McVay has a long history of featuring his backs in bell-cow roles, and Williams finished with the highest snap share (86.4%) at the position last season. If an extension isn’t reached before the season, it could be a sign that Corum and Hunter could have bigger roles than McVay’s backs have seen in the past. (Added May 20)
San Francisco 49ers
- Brock Purdy and the 49ers agreed to terms on a five-year, $265 million contract, which included $181 million guaranteed. Purdy is tied with Jared Goff for the seventh-highest average annual value at $53 million. He finished as the QB10 (18.8 FPG) last season, despite his passing YPG (267.5>257.6) and passing TDs per game (1.94>1.33) falling from 2023 to 2024. He made up for his dip in passing production by padding his stats as a runner. He posted 66/323/5 rushing in 2024, including 44 scrambles for 300/2 rushing, after totaling 52/155/3 rushing in his first 21 starts in 2022-23. Purdy will need to keep scrambling in Year 4 to maintain his low-end QB1 production with Deebo Samuel no longer in the fold and Brandon Aiyuk (ACL) likely to miss half of the season. He’s a slight value at his ADP (108, QB12), especially if the 49ers play in more shootouts after losing some key defenders this off-season. (Added May 20)
Seattle Seahawks
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