NFL's Best Bargain Moves of Early 2016 Free Agency

The 2016 NFL free-agency period is now a few days old, and the furious feeding frenzy that began at 4 p.m. ET on Wednesday has begun to calm.

There will still likely be a fair amount of free-agent activity over the weekend, of course, but the all-important first phase of the market period is over. A whole lot of headline-grabbing moves were made—and an awful lot of money was spent—over the first few days of free agency. However, some teams found time to make a few bargain moves as well.

Generally, free-agency value moves tend to fly under the radar, as the collective football world continues to be mesmerized by splash signings. However, these moves carry much less financial risk and can often pay off just as much as the high-dollar signings.

Let's not forget that running back DeMarco Murray was the big-money prize of last year's free-agency period. Yet, it was his "value" replacement with the Dallas Cowboys, Darren McFadden, who posted a 1,000-yard season in 2015.

Here we're going to look at the top value moves to come from the first few days of the 2016 free-agency period. These are moves that don't require a monumental financial investment by the teams involved, yet have big payoff possibility because of player talent, potential or scheme fit.

Bengals Re-Sign Linebacker Vincent Rey

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The Cincinnati Bengals have already lost a few key pieces from their 2015 roster—namely wide receivers Mohamed Sanu and Marvin Jones. However, the team did manage to bring back one defensive building block in linebacker Vincent Rey, and it did it as a very affordable rate.

According to Coley Harvey of ESPN.com, the Bengals have re-signed the Duke product to a three-year, $11.5 million contract. This is a small price to pay for a guy who has emerged as a integral piece of the Cincinnati defense.

A former undrafted free agent, Rey has started 21 games for the Bengals over the last two years and has racked up an impressive 219 tackles in that span. Rey might not be a superstar or a Pro Bowl talent, but he is part of the puzzle in Cincinnati, and the Bengals have let him know it.

"Money is very important, but even more than that I know that I'm an important piece to this team," Rey said, per Harvey. "That means the world to me. To know that I'm important here, that's the validation right there."

Locking up Rey for the next few years might have been a thrifty move for the Bengals, but it was a smart one.

Bills Bring Back Guard Richie Incognito

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Last season, the Buffalo Bills gave veteran guard Richie Incognito an opportunity to resurrect his NFL career. Incognito responded with a standout, Pro Bowl season.

The Nebraska product spent a year out of football following the now-infamous Miami Dolphins bullying scandal. He returned to start all 16 games at guard for the Bills in 2015, and he did so at an incredibly high level.

Pro Football Focus rated Incognito second overall among guards for the 2015 season.

Thanks to a pretty team-friendly deal, Incognito will continue to be a strength on the Buffalo offensive line for the immediate future. According to Aaron Wilson of the Houston Chronicle, Incognito's deal is for three years and $15.75 million with $5.45 million guaranteed.

For a guy who was one of the top guards in the league last season, this is a downright bargain.

Eagles Sign Safety Rodney McLeod

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The Philadelphia Eagles managed to add a talented, up-and-coming safety in free agency, and they did it without breaking the bank.

Veteran safety Rodney McLeod is headed to Philadelphia after spending his first four years with the Rams in St. Louis. He is just 25 years old, has played in all 16 games in each of his four years and is a three-year starter.

McLeod's price tag, according to OverTheCap.com, is $35 million over five years with $13 million fully guaranteed. This might seem like a fairly hefty investment on the surface, but $7 million a year really is a bargain for one of the league's top safeties, which McLeod was last year.

Pro Football Focus rated McLeod 10th overall among safeties for the 2015 season. He can be a legitimate defensive cornerstone for the Eagles for many years to come.

To further see the value in McLeod's deal, let's consider that it's very comparable to the five-year, $36 million deal safety Tashaun Gipson signed with the Jacksonville Jaguars this week. Gipson has missed eight games due to injury over the past two years and was rated just 83rd overall among safeties by Pro Football Focus for the 2015 season.

Well done, Eagles.

Eagles Also Add Cornerback Leodis McKelvin

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McLeod isn't the only value player the Eagles added to their secondary this week. The team also brought in veteran cornerback Leodis McKelvin on a very team-friendly deal.

According to OverTheCap.com, McKelvin's new deal will pay him $6.2 million over the next two years. Considering the importance of cornerbacks in today's pass-driven NFL, this isn't a bad price at all.

It's true that McKelvin is more of a role player at this stage of his career—he is 30 years old and only appeared in nine games for the Buffalo Bills this past season—but he can still be a very effective pass-defender. He racked up 32 tackles, nine passes defended and two interceptions in his nine games last year.

Pro Football Focus rated him 75th overall among cornerbacks for the 2015 season.

McKelvin did play some safety this past season and could be a rotational defensive back in coordinator Jim Schwartz's defense. The good news is that the two are familiar with one another, as both McKelvin and Schwartz were with the Bills in 2014.

This was a smart signing by the Eagles and a relatively thrifty one.

Panthers Bring Back Charles Johnson

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Whenever a Super Bowl participant brings back a piece of the team on the cheap, it has to be considered a bargain.

This is exactly what the Carolina Panthers managed to do with defensive end Charles Johnson. The Panthers cut Johnson the week before free agency when he was set to count more than $15 million against the salary cap, but the nine-year veteran is back in the fold for a 2016 run.

According to ESPN's Adam Schefter, Johnson's new deal is for one year and $3 million. Per Schefter, Johnson turned down double the money from other teams to return.

Injuries limited Johnson to just nine games in 2015, and he had his worst season as a pass-rusher since becoming an NFL starter with just a single sack. However, he regained his form in the postseason and showed what he is capable of in Super Bowl 50.

Johnson produced three tackles, a sack and a forced fumble against the Denver Broncos in the league title game. By bringing him back, the Panthers are helping their chances of getting back to the big game in 2016.

Titans Add Receiver Rishard Matthews

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The Tennessee Titans added a new toy for second-year quarterback Marcus Mariota by signing former Miami Dolphins receiver Rishard Matthews.

According to ESPN's Adam Caplan, the deal is for three years, $15 million with $5 million guaranteed.

When you compare Matthews' deal with some of the other wideout contracts given in free agency, it looks like a true bargain. The Detroit Lions handed Marvin Jones $40 million and $13 million guaranteed for five years. The Atlanta Falcons gave Mohamed Sanu $32.5 million with $14 million fully guaranteed for his five-year deal.

There is a bit of a health risk with Matthews, as injuries caused him to miss five games in 2015. However, he seems to be a true rising talent and is coming off the best season in his pro career. The Nevada product racked up 43 receptions for 662 yards and four scores in his 11 appearances. He also averaged an impressive 15.4 yards per reception for the season.

Matthews is just 25 years old and has the potential to develop into a long-term piece of Tennessee's offensive puzzle. Considering what receivers have been going for on this year's market, he is also a great value.

Ravens Add Tight End Benjamin Watson

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A lack of healthy receiving options was one of the reasons why the usually consistent Baltimore Ravens struggled to compete this past season.

Earlier this week, the team took one step to help strengthen its receiving corps and increase the odds that having healthy pass-catchers won't be an issue in 2016. The team did this by adding 12-year veteran tight end Benjamin Watson.

According to Tom Pelissero of USA Today, Watson's new deal is for two years and $7 million with $3 million in guaranteed bonuses.

Bringing in the 35-year-old veteran is obviously a short-term solution for Baltimore, but it's an affordable one and a move that could yield immediate dividends.

Watson may be entering the twilight of his career, but he is still extremely productive. Last season with the New Orleans Saints, he racked up 74 receptions, 825 yards and six touchdowns. If Watson experiences a drop-off by going from Drew Brees to Joe Flacco at quarterback, it should be a small one.

Watson also brings experience in the AFC North, as he previously played three seasons with the Cleveland Browns. He knows the division and he knows his new team well.

"Even if they didn’t have the greatest year or whatever, you know that that team is going to be competitive overall," Watson said of the Ravens, per Jamison Hensley of ESPN.com. "You know you’re going to have to play well if you want to win against that team. To be here and to be part of that is exciting for me."

The Ravens should be excited to have another proven veteran in their ranks.

Jets Add Running Back Matt Forte

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Injuries may have limited former Chicago Bears running back Matt Forte to just 13 games in 2015, but he still managed to produce 1,287 combined rushing and receiving yards. He also recently turned 30 years old, but Forte has long been one of the league's most versatile and productive running backs.

Now he is a member of the New York Jets.

According to Manish Mehta of the New York Daily News, Forte's new deal is for three years, $12 million with $8 million guaranteed.

This isn't much money at all for one of the best backs in recent league history, and it's a relative bargain when compared to what Forte's New York predecessor received on the market.

According to OverTheCap.com, former Jets running back Chris Ivory's new deal with the Jacksonville Jaguars is worth $32 million over five years with $10 million guaranteed.

It's worth noting that Ivory is nearly three years younger than Forte, but it definitely feels like the Jets got the better bargain.

Cardinals Retain Backup Quarterback Drew Stanton

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Teams don't usually get a lot of love for signing backup quarterbacks. However, we're going to toss a little to the Arizona Cardinals for re-signing backup Drew Stanton earlier this week.

We've already seen the value the Michigan State product can have for the Cardinals franchise. Stanton helped keep the Cardinals afloat two seasons ago when starter Carson Palmer missed 10 games with an ACL tear.

Stanton helped to lead the Cardinals to the postseason in 2014, and it wasn't until he was lost to injury that the team's run really came to an end.

Bringing Stanton back was an extremely smart move by Arizona, and it doesn't look to be an expensive one. According to Josh Weinfuss of ESPN.com, Stanton's new deal is for two years and $6.5 million. Per Weinfuss, his deal could balloon to nearly $9 million with bonuses.

Still, this is more than a fair price for the Cardinals to solidify their backup plan for the immediate future. It's also a small price to pay to bring fans some of the best sideline entertainment the NFC West has to offer.

Steelers Add Tight End Ladarius Green

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The Pittsburgh Steelers entered free agency needing help at the tight end position because of the recent retirement of longtime veteran Heath Miller. The team got that help—and added a potentially potent offensive weapon—by signing 25-year-old Ladarius Green

According to OvertheCap.com, Green's deal with Pittsburgh is for $20 million over four years. This is a fairly underwhelming deal for a guy who can potentially help the Steelers offense further stretch the field.

Green has never put up eye-popping numbers during his four-year career with the San Diego Chargers—he is coming off his best season with 37 receptions, 429 yards and four touchdowns. However, he has immense physical potential as a receiving tight end at 6'6" and 240 pounds. He also has the quickness to be a legitimate deep threat for strong-armed quarterback Ben Roethlisberger.

Green ran a speedy 4.53-second 40-yard dash at the scouting combine back in 2012, and he has averaged 14.1 yards per reception as a pro.

In Pittsburgh's offense, Green could quickly emerge as one of the top pass-catching tight ends in the league and a potential Pro Bowler. The Steelers already boasted the NFL's third-ranked passing offense in 2015 (287.7 yards per game) and feature receiving talents like Antonio Brown, Markus Wheaton and Martavis Bryant.

Adding Green to the mix potentially makes the Steelers offense even more dangerous. Adding him at a fair market price adds value.