Raiders' Early Report Card for Most Impactful Offseason Decisions
The Las Vegas Raiders are firmly in a rebuilding phase this offseason. They released quarterback Derek Carr before the start of free agency, added quarterback Jimmy Garoppolo after it and traded one of their most dynamic pass catchers while adding another.
The Raiders also retained star running back Josh Jacobs, albeit through the use of the franchise tag and not a long-term extension.
It remains to be seen if these moves will make Las Vegas a better team in 2023. However, it will have a roster more tailored to the preferences of head coach Josh McDaniels in his second season.
What are the most impactful moves Las Vegas has made thus far? That's what we're here to examine. We'll also grade the franchise's biggest decisions based on factors like value, risk and potential upside.
Releasing Derek Carr, Signing Jimmy Garoppolo
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In a vacuum, Garoppolo probably isn't a better quarterback than Carr. The former is a four-time Pro Bowler who has been remarkably durable throughout his pro career. The latter is an oft-injured game manager who steered the San Francisco 49ers deep into the postseason but never really elevated the talent around him.
However, we have to consider the fact that McDaniels—who coached Garoppolo with the New England Patriots—clearly views Jimmy G as a better fit for his system. It's probably a lateral move talent-wise, but McDaniels gets his man, and there's value in that for both Las Vegas and Garoppolo.
"Right off the bat actually, one of my agents gave me the first list of teams. Raiders were right up there. I have the familiarity with Josh, Dave (Ziegler)—the [general manager]. All that played a role," Garoppolo said, per NFL Media's Nick Shook.
Ziegler did an excellent job of constructing Garoppolo's three-year, $72.8 million contract. $45 million of it is guaranteed, but Las Vegas could release Garoppolo after this season and still save $9.3 million in 2024 cap space, or $13 million by releasing him with a post-June 1 designation.
This means the Raiders have an out if Garoppolo—who is coming off a season-ending foot injury—can't stay healthy. It also leaves the Raiders with the freedom to draft a quarterback early in April and move on from Garoppolo after a year or two if the incoming signal-caller is ready to take the reins.
Going from Carr to Garoppolo won't make Las Vegas a title contender, but there are more positives with this decision than negatives.
Grade: C+
Tagging RB Josh Jacobs
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Using the non-exclusive franchise tag on Jacobs—who led the NFL with 1,653 rushing yards in 2022—was a smart decision by the Raiders because it gives them options.
Las Vegas has until July 17 to work out a long-term deal with the two-time Pro Bower. If it can't, it will retain its offensive centerpiece at the cost of $10.1 million. That's a reasonable price, considering Jacobs has a projected market value of $12.8 million annually.
If another team signs Jacobs to an offer sheet that the Raiders don't match, they'll receive a pair of first-round picks as compensation.
While tagging Jacobs was logical, it comes with risk, as the 25-year-old seems to have no interest in actually playing on the franchise tag.
There's a real chance that Jacobs demands a trade and/or refuses to play without a long-term agreement. The Raiders have time to work out a deal, though, and using the tag bought them that time.
Jacobs would have likely been the hottest running back on the free-agent market had he not been tagged. And it's not hard to imagine him looking to go to a team closer to contention than Las Vegas.
For now, Jacobs remains in the fold, though an extension would have been a bigger win for the Raiders than the franchise tag.
Grade: B
Trading Darren Waller, Signing Jakobi Meyers
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Arguably the most surprising choice Las Vegas has made was the decision to trade star tight end Darren Waller. The 2020 Pro Bowler was dealt to the New York Giants for the 100th pick in April's draft (Round 3).
While that's a small return for a tight end who is among the league's best when healthy, there are other factors to consider—namely, that Waller has battled injuries and appeared in only 20 games over the past two seasons.
Waller will also turn 31 early in the 2023 season and will carry a $14.5 million cap hit in 2024. If the new front office doesn't view Waller as a long-term building block, now was the right time to move on from him.
In this context, a third-round pick is more than fair.
Though Waller is gone, the Raiders added another pass-catcher to help replace him. They signed former Patriots wideout Jakobi Meyers on a three-year, $33 million deal.
Meyers is a tremendous route-runner and a perfect fit in McDaniels' offense. He was arguably the best wideout available in free agency, he'll be a fantastic No. 2 option opposite Davante Adams, and he comes in at a fair price.
While Meyers doesn't directly replace Waller at tight end, he can help replace his production. Meanwhile, Las Vegas can look to a draft pool that is both deep and talented at tight end—the Bleacher Report Scouting Department ranked five TEs among its top 50 prospects,
Taken as a whole, trading Waller and adding Meyers is a win for the Raiders
Grade: B+
*Cap and contract and market information via Spotrac.
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