Running Down NFL Free Agency's Opening Big-Money Salvo

Today we are going to look at the clubs that actually handed out big contracts. Your favorite team may not be one of them—but, unless your favorite team is the 49ers or the Browns, that's probably a good thing.

The scope of winners and losers in free agency depends a lot on the bargain deals: Cliff Avril heading to Seattle for two years and $15 million, or Emmanuel Sanders settling on Denver for three years and $15 million. Those kinds of moves swing title races. Those deals haven't been signed yet.

But here's what I think about the players who actually found All The Money on Wednesday and Thursday, keeping in mind that the total dollar valuation isn't that important.

Houston's Big Splashes

I think there are legitimate counter-arguments to each move the Texans made Wednesday. Signing free-agent running backs often isn't a game a front office should want to play. Letting your best players walk in free agency is scary.

Here's the 30,000-foot view: the Texans had a problem at quarterback, and they gambled on who they thought was the best logical solution to fix it. I don't think all that highly of Brock Osweiler, and Houston's quarterback decision-making process has been brutal under Bill O'Brien. But they actually made a bet here, and I can't fault a directionless franchise for doing that. Osweiler's contract is essentially a two-year, $38 million shrug. Maybe he's great, maybe he isn't. It's not like he's displacing anyone great, and it's not like the Texans can't draft a better quarterback if one becomes available. (It probably wasn't going to happen with the 22nd overall pick, though.)

The worst-case scenario is that Osweiler fails and the Texans have less cap space in 2017, but after that he's easy to take off the books. Considering the lack of free-agency options at quarterback most seasons, it's hard to mount an argument that Osweiler has a significant opportunity cost. The Texans have already been punting quarterback and watching it fail. What's the worst that could happen?

Lamar Miller is a nice fit to replace Arian Foster. I was surprised he wasn't seen as the top free-agent back, and I think the lack of workload he carried in Miami will help him age gracefully. Losing Brandon Brooks hurts, but new guard Jeff Allen is a serviceable starter.

The Giants—A Defensive Line That Also Employs Other Players

I think a little less of the moves the Giants made, because I think it shows an institutional stubbornness that hasn't been earned.

Bringing in Olivier Vernon and Damon "Snacks" Harrison to partner with Johnathan Hankins and Jason Pierre-Paul is a continuation of a theme. The Giants value a star-studded defensive line over anything else on a defense. Vernon should be good, although maybe not the type of good implied by the guaranteed dollars in his contract. Harrison and Hankins are an odd fit. Both are better run-pluggers, but I can appreciate that the Giants were working with the best that was available.

But new corner Janoris Jenkins is the equivalent of a Three True Outcomes baseball hitter: he's not involved in the play, he breaks up the play, or he gets beat for a touchdown. He's been healthier than Prince Amukamara, but I don't think he's an upgrade.

Other than that, the Giants continue to ignore the middle of the field. It's easy to look at the Seattle defenses and Denver defenses of the past few years and think the answer to stopping modern pass offenses is just "great defensive line play." Those defenses also had Earl Thomas, Richard Sherman, Bobby Wagner, K.J. Wright, Danny Trevathan, Chris Harris, and T.J. Ward. The Giants don't have a single player in their back seven of that quality at this point.

Maybe the Giants will address this during the draft, if UCLA's Myles Jack or FSU's Jalen Ramsey falls into their laps, but for now they've committed a lot of cap space to build half of a good modern defense. Oh, and their No. 2 receiver is still Victor Cruz, who didn't play last year. Good luck with that.

The Jaguars and the Raiders: Quarterback Cures and the End of the Doldrums

Between 2011 and 2014, the Raiders and the Jaguars combined to go 32-95, with enough cap space to buy their own Fortune 500 company. Most years, they had to settle for the Justin Tucks and Toby Gerharts of the world. No good player was going to Oakland or Jacksonville if they had a choice.

While I'd argue that Derek Carr and Blake Bortles still have a ways to go before becoming legitimate franchise quarterbacks, they've elevated the profiles of their respective teams. Like a rising tide, a chance at having a great quarterback raises all hopes. Oakland went into free agency this year needing a defense and having to fend off a possible defection from left tackle Donald Penn. They left with the best lineman on the market in Kelechi Osemele, and a clear upgrade at corner in Sean Smith. I'm not as high on Bruce Irvin, but there's a chance that he'll be a better fit as a pure edge rusher than he was in Seattle.

The Jaguars got the best free agent on the market in defensive lineman Malik Jackson. He'll be an interesting fit in Jacksonville, as I'd argue basically every pass rusher they have works best in the B-gaps. (Dante Fowler could be good outside, but we haven't seen it yet.)

I'm not as enamored with their other big moves. Tashaun Gipson was bad in 2015, and while banking on a comeback is a key part of understanding free agency, the Jaguars are paying him like he already rebounded. The money doesn't matter, but if he doesn't rebound, he's not an upgrade. For the eight games a season that Chris Ivory is healthy, he's going to be the kind of physical inside force the Jaguars want. But last season was the first where he didn't disappoint, and I don't see him as a big upgrade on T.J. Yeldon.