Eagles RB Jay Ajayi (back) injured, but returns

The Giants get a 2026 sixth-round pick from Miami for Darren Waller and a conditional 2027 seventh-rounder, per source.

Essentially a free pick for New York for a player who was retired, and a low-risk flier for Miami on a player who, at his peak, was one of the NFL’s best.

Related Players: Pharoah Brown, Julian Hill

Waller was a favorite of some as a cheap, late-round dart throw with the Giants last season before he unexpectedly retired. If the veteran were going to come out of retirement, this is about the best place you could land, but we'll see whether the time away from the game will make an impact on his effectiveness.

He certainly doesn't offer the type of upside we would have seen out of Jonnu Smith, but he should be on the radar as a low-end TE2 until we start to see how he looks/integrates during training camp.

Steelers-Dolphins trade, Part II: Dolphins are trading tight end Jonnu Smith to the Steelers for a late-round pick swap, per ESPN sources.

Smith will get a one-year contract extension for $12 million.

Related Players: Pat Freiermuth, Pharoah Brown, Julian Hill

What's good for the Steelers offense isn't necessarily a good thing for fantasy. Freiermuth is coming off a career-high 65 receptions, but even with a lack of a bona fide WR2 in Pittsburgh, it's doubtful he hits that number with Smith in town. This obviously means Smith will have to fight for targets as well, and puts both of their TE1 outcomes in question. Jonnu, at least, has familiarity with Arthur Smith, so we can envision usable weeks, just not nearly as many as he would have had in Miami.

The TE options leftover in Miami can be safely avoided, unless they make a move for another guy. Malik Washington becomes slightly more palatable as a (very) late-round dart throw.

Good news from Chiefs coach Andy Reid with minicamp set to wrap up: He expects both first-round OT Josh Simmons (knee) and WR Rashee Rice (knee) to be full participants at the start of training camp.

Related Players: Xavier Worthy, Hollywood Brown, JuJu Smith-Schuster, Jalen Royals, Travis Kelce

Great start to the ramp up to the regular season, as Rice should be in WR2 territory if he's fully healthy by Week 1. We saw how much a healthy Rice severely impacted Kelce's ceiling, as they both operate in similar areas of the field, so he should be closer to TE10 than his historical top-3 consideration.