2012 NFL Free Agents: The 5 Best Players Still on the Market

As Wednesday marks the halfway point between the beginning of free agency and the beginning of the draft, many fans are shifting their focus to April 26 and the 77th annual NFL draft.

Peyton Manning, Mario Williams and Vincent Jackson were among the most highly-coveted free agents this offseason. Other big-time players like Ben Grubbs, Brandon Carr and Mario Manningham will be playing for a different team as well in 2012.

So who's left? Which available players should your favorite team pursue?

While the selection of remaining free agents isn't prevalent, there are some good players who, for the most part, won't cost an arm and a leg.

Here are the top five free agents still available.

1. Mike Wallace, Wide Receiver (restricted Free Agent)

Right away, we know that the barrier between Mike Wallace being signed is that he's a restricted free agent. A restricted free agent must be given an offer sheet from a team by April 20. That team must also give the Steelers a first-round draft pick if they end up signing Wallace.

To make things more complicated, Wallace reportedly wants a contract that will play him at least $100 million.

He's young and incredibly talented. But will a long-term commitment of five to six years, $100 million (or more) and a first-round draft pick be worth it? That's the question. That's the hold-up.

When free agency began, teams went for unrestricted wide receivers like Vincent Jackson (Tampa Bay), Mario Manningham (San Francisco) and Robert Meachem (San Diego), among others. Now that their rosters are taking more shape, and now that the draft is getting closer, the urgency to make a play for Wallace is diminishing.

In his last two seasons, in which he got quality playing time, Wallace started in 30 of the 32 games he played. In his last two seasons, he averaged 66 receptions for 1,225 yards (18.6 yards per reception average) and nine touchdowns.

Wallace is a dynamic game-changer that is probably worth less than what he's asking for, at least at this point in his career.

2. London Fletcher, Middle Linebacker

London Fletcher is a tackling machine.

It doesn't matter that he's going to be 37 before training camp starts. So many people have doubted him for years, but he keeps getting better. He's the best defensive free agent still available.

Experience, durability and high-end production at a low price is what you get with Fletcher.

How durable is Fletcher?

Since 1999, he's missed one start. That's 207 starts in 208 games.

In 2011, he led the league in tackles with 166. In 2009, he was second in the NFL with 144 tackles. In the last decade alone, he's averaged 143 tackles per season. Fletcher has also compiled 34.0 sacks and 35 turnovers (18 interceptions, 17 forced fumbles) in his career.

If Fletcher's age or health were an issue, there would be no way a team would think about signing him. But it's not. If Fletcher was a hindrance to a team, that issue would've been brought to light by now.

In fact, he's the opposite of a hindrance. In his 14th season, he made the highest amount of tackles of his career. He's played for three teams, and has experience playing inside and outside, and in both conferences.

Sure, Fletcher won't get a huge contract. But I'm pretty sure he's not asking for one. If that's true, what's the downside to signing him? I don't see it.

3. E.J. Henderson, Middle Linebacker

Beside his rookie season (2003, played in every game, but no starts) and 2008 when he only played in four games because of two dislocated toes on his left foot, E.J. Henderson has been a constant force in the middle of the Vikings defense.

Since 2004, Henderson has started in all but four of the games in which he's played. When he's started  at least 12 games in a seasons, he's recorded at least 75 tackles each year.

His best two seasons came four years apart from each other, showing he's always capable of performing:

• 2007: 118 tackles, 4.5 sacks, four passes defensed, three forced fumbles
• 2011: 109 tackles, two sacks, three passes defensed, three forced fumbles

Henderson has shown the ability to overcome serious injury and play well. He has good size and good instincts.

He will turn 32 before the 2012 seasons starts, so whichever team signs him won't have to break the bank. Henderson's last contract was a five-year deal worth $25 million. He's worth that now.

4. Ryan Grant, Running Back

If your team is looking for a veteran running back with starting experience, Ryan Grant wouldn't be a bad choice. In limited action last year, he rushed 134 times fro 559 yards (4.2 yards per carry average) and two touchdowns.

He has good size and experience. However, his injury history will limit his negotiating leverage in free agency. His last contract paid him an average of $5 million a year. Grant won't get that, but he's still worth a roster spot as a back-up, who can start too.

If you've watched the NFL lately, you know that the vast majority of teams are moving to a two- (and in some cases a three-) back rotation. Not that long ago (2008-09), Grant rushed for 2,456 yards and 15 touchdowns, while only missing two starts.

Signing Grant shouldn't yield an overwhelming reward, but it won't cause a team to take an overwhelming risk either.

5. Marcus Trufant, Cornerback

A little less than a month ago, the Seattle Seahawks released their nine-year cornerback, Marcus Trufant. Last season, Trufant was placed on injured reserve with a back injury. In fact, since 2009, Trufant has missed 18 games due to back problems.

Seattle has won just 33 percent of their regular season games over the last four seasons (21 wins in 64 games). So if the Seahawks released Trufant, why should another team sign him?

For one, the salary he garners will be low. Two, the NFL is a passing league, and Trufant is best cornerback still available. Three, Trufant has started in every games he's every played in the NFL, except one.

Most of all, the risk associated with Trufant seems to be worth it, considering his 2007 season (85 tackles, seven interceptions), in which he helped Seattle get to Super Bowl XL.

At just 31 years old, and with all of his experience, I'd say Trufant is worth a one-year deal worth $2.5 million. If he succeeds, you are the team who gave him a second chance. If he doesn't succeed, your risk is minimal.