NFL Free Agency 2011: The 5 Moves That Have Most Affected Fantasy Football

Free agency in the NFL is just over a week old, and already dozens of players have signed on the bottom line, changing helmets, mailing addresses, and most importantly (to us anyway) the fantasy football fortunes of not only themselves but also their new teammates.

Let's look at the five transactions that have caused the most damage in fantasy football circles (be it for good or bad), with an honorable mention thrown in for new Tennessee Titans quarterback Matt Hasselbeck, whose arrival in Nashville bodes well for the fantasy outlook of stud running back Chris Johnson and wide receiver Kenny Britt.

5.) Chad Ochocinco Traded to the New England Patriots

The New England Patriots are up to their old tricks, picking up veteran castoffs from other teams for pennies on the dollar in the hopes that these fading stars still have something left in the tank. Their latest salvage job is none other than mercurial wide receiver Chad Ochocinco, who New England acquired from the Cincinnati Bengals for two late round draft picks.

FANTASY TAKE: Ochocinco may not be the same player (literally, the name on the back of his jersey is different and everything) that he was in Cincinnati from 2004-2007, when he averaged over 90 receptions, 1,350+ yards, and over eight touchdowns a season while finishing among the top 10 fantasy wide receivers each year, but assuming he's sincere about keeping his mind focused and his mouth shut Chad Ochocinco's fantasy value will be bumped into WR2 territory catching passes from Tom Brady in Boston rather than rookie Andy Dalton in Cincinnati.

4.) Ahmad Bradshaw Re-Signs with the New York Giants

A deal more important to fantasy football for what didn't happen, running back Ahmad Bradshaw signed a four year $18 million contract to remain with the New York Giants. Presumed to be one of the most sought after free agents at his position Bradshaw, who rushed for a career high 1,235 yards in 2010, seemingly fell victim to an apparently weak market for running backs.

FANTASY TAKE: Bradshaw's return to the Big Apple was frustrating to fantasy owners who had hoped that his departure might mean featured back roles for both Bradshaw on a new team and Brandon Jacobs with the Giants, and while Bradshaw will remain a solid RB2 and Jacobs a serviceable RB3 while sharing carries this season one can't help but wistfully wonder about what might have been.

3.) Seattle Seahawks Sign Sidney Rice and Zach Miller

The Seattle Seahawks weren't shy about shelling out the moolah to upgrade an offense that ranked 28th in the NFL in 2010, inking former Minnesota Vikings wide receiver Sidney Rice and ex-Raiders tight end Zach Miller to deals totaling $75 million. The 25 year-old Miller had 60 catches for 685 yards and five scores a year ago, while the 24 year-old Rice had only 17 catches during an injury marred 2010 campaign in Minnesota.

FANTASY TAKE: The 'Hawks were wise to lock up two premier players at their positions who are just entering the prime of their careers, and Sidney Rice and Zach Miller each have top 10 fantasy football finishes at their respective positions under their belts, but given the nightmarish situation at quarterback in Seattle (when Tavaris Jackson is an upgrade it's a nightmare all right) the short-term fantasy outlooks for these players took a sizable hit.

2.) Arizona Cardinals Add Kolb, Heap, Lose Hightower, Breaston

It's been a busy off-season for the Arizona Cardinals, who acquired their potential "quarterback of the future" in Kevin Kolb in a trade with the Philadelphia Eagles while adding former All-Pro tight end Todd Heap of the Baltimore Ravens in free agency. The Cardinals offense also suffered a few losses, however, as the team traded their leading rusher from a year ago, running back Tim Hightower, to the Washington Redskins while watching wide receiver Steve Breaston depart for the Kansas City Chiefs.

FANTASY TAKE: The Cardinals took a big risk with Kolb, trading cornerback Dominique Rodgers-Cromartie and a 2012 2nd rounder and signing Kolb to a $63 million contract. His arrival is certainly good news for stud wide receiver Larry Fitzgerald, who is again a top-five fantasy option now that there's someone to actually throw him the ball, but given Kevin Kolb's limited track record and the backslide in offensive weaponry from Philadelphia to the desert it's hard to view the fifth year pro as more than a QB2. Todd Heap was last a fantasy force in 2006 and has had durability issues, but there's enough sleeper potential there to merit fantasy draft consideration as a low-end TE1 or top TE2.

As to the departed Redbirds, Tim Hightower will fight for carries in a muddied Redskins backfield while nominal starter Beanie Wells and rookie Ryan Matthews battle for touches at running back in Arizona. Steve Breaston should remain a viable fantasy football WR3 as the second option in Kansas City's passing attack, with added value in leagues that award points for receptions.

1.) Carolina Panthers Retain DeAngelo Williams, Add Greg Olsen

The Carolina Panthers made keeping their players in the fold this year a top priority and weren't afraid to spend to do it, beginning with running back DeAngelo Williams, who they signed to a five year, $43 million deal as free agency began.

The Panthers also added a shiny new check-down option for rookie quarterback Cam Newton, acquiring tight end Greg Olsen via a trade with the Chicago Bears. Olsen, 26, had 41 catches for 404 yards and five touchdowns in 2010, while a foot injury limited Williams to only 361 rushing yards in six games a year ago.

FANTASY TAKE: The collective wail heard 'round fantasy football upon the announcement that Williams had re-upped wasn't so much for him (injuries are a concern, but DeAngelo Williams remains a high-end RB2 who finished in the top 20 among fantasy running backs two of the past three seasons), but for Jonathan Stewart. Barring an injury to Williams, Stewart will once again see his considerable potential go untapped mired in a carry-share behind Williams, although he should still post RB3 numbers and could crack the top 25 by season's end.

The fantasy outlook for 2011 is a fair bit better for Greg Olsen, who had become an afterthought in Mike Martz's offense in Chicago but should return to fantasy football TE1 status compliments of new Panthers offensive coordinator Rob Chudzinski, who has historically rum a much more tight end-friendly offense than Martz.