NFL Free Agent Signings: Recapping Day 1

The NFL's free-agency period got off to a hot start on Tuesday afternoon, with signings and moves coming rapidly. The following is a recap of the first day of free-agent signings.

The first big domino fell when wide receiver Vincent Jackson inked a huge five-year, $55.55 million contract with the Tampa Bay Buccaneers. Jackson's deal includes $26 million guaranteed, and he will get $13 million in each of his first two seasons, then $10 million for the third. 

The two-time Pro Bowler presents a huge risk for Tampa Bay, as he has never had more than 68 receptions in a season and now will be expected to be a focal point of the Bucs offense. Jackson has also had several off-field incidents, including two DUIs and a protracted holdout in 2010. The 29-year-old receiver is a big upgrade for Tampa Bay, but he does present a risk.

After Jackson came off the market, the Washington Redskins went out and got their own receiver by signing Pierre Garcon to a ridiculous five-year, $42.5 million deal. The Redskins vastly overpaid for the former Indianapolis Colts wideout, giving him $21.5 million guaranteed.

The Redskins are hoping the 25-year-old will step in and develop into a pure No. 1 receiver, but I just don't see that happening. This was yet another crazy amount of cash given by Washington to a free agent.

Thanks to Garcon's departure, the Colts turned around and re-signed Reggie Wayne to a three-year, $17.5 million deal. Indianapolis had to re-up Wayne after losing Garcon. He also gives the Colts a recognizable face for a franchise that is in the midst of rebuilding.

After losing out on re-signing Jackson, the San Diego Chargers signed receiver Robert Meachem to a four-year, $25.9 million contract with $14 million guaranteed. It is a lot of money for a guy who underachieved in New Orleans at times, but San Diego needed to add a deep threat, and the 27-year-old wideout fits that mold.

Meachem won't replace Jackson, but he'll certainly help the team by stretching defenses. He should open things up underneath for tight end Antonio Gates and will take pressure off of Malcom Floyd on the outside.

After all the receivers came off the board, the St. Louis Rams made their first foray into the market by locking up cornerback Cortland Finnegan with a five-year, $50 million deal with $26.5 million in guarantees.

The 28-year-old Finnegan was probably the best corner on the market, and the deal will go a long way to bolstering a Rams defense that ranked 22nd in the NFL last season. The deal reunites the corner out of Samford with head coach Jeff Fisher, who he played under in Tennessee for years.

The San Francisco 49ers also jumped into the cornerback fray, re-signing Carlos Rogers to a four-year, $29.3 million deal with a possible $4 million more available through incentives. The deal means the 49ers will return all 11 defensive starters next season. 

It was an important deal for San Francisco to get done, as Rogers was an important part of the team last year and will remain so in 2012.