Yesterday we ran Part I of the Offseason Transaction Report that usually runs in the magazine, a.k.a. the Free Agency story. In that one, we covered the 16 AFC teams. Today is Part II, the NFC teams.

In the following team-by-team sections, the grades aren’t fantasy specific, but instead reflect the difference in each team’s overall level of talent. No credit is given for re-signing players or gaining future draft picks, nor are teams penalized for overpaying players. Instead, the grades simply weigh the quality of the new players versus the quality of the players walking out the door.
A – Team significantly better.
B – Team somewhat improved.
C – Level of talent essentially unchanged.
D – Team lost some ground.
F – Team severely damaged.

ARIZONA CARDINALS
Key gains: WR Marvin Harrison (1st), OT Jonah Williams (Cin.), DT Justin Jones (Chi.), DE Darius Robinson (1st), DT Bilal Nichols (L.V.), LB Mack Wilson (N.E.), CB Sean Murphy-Bunting (Ten.), RB Trey Benson (3rd), QB Desmond Ridder (trade). Key losses: WR Marquise Brown (K.C.), WR Rondale Moore (trade), OT D.J. Humphries (cut), DT Leki Fotu (NYJ).
Grade: B+
Harrison was the first receiver selected with a top-4 overall pick in nine years. He’ll be used extensively from the jump (especially with the Cardinals not having much else at the position). … Arizona ranked last in run defense last year, so signing Jones to a contract averaging over $10 million makes sense. Jones was part of a Chicago defense ranked No. 1 in that category. … Humphries tore his ACL in January, prompting his release and the Williams signing. … Benson looks like an heir-apparent at tailback, with James Conner having missed multiple games seven years in a row.

ATLANTA FALCONS
Key gains: QB Kirk Cousins (Min.), QB Michael Penix (1st), WR Darnell Mooney (Chi.), WR Rondale Moore (trade). Key losses: DE Calais Campbell (Mia.), LB Bud Dupree (LAC), WR Cordarrelle Patterson (Pit.), QB Desmond Ridder (trade), TE Jonnu Smith (Mia.), CB Jeff Okudah (Hou.), WR Mack Hollins (Buf.).
Grade: B+
The big two additions were shockingly both at quarterback. It’s reasonable to wonder if they would have been better off making just one of those moves, allowing them to better address other positions. … Other personnel changes look like slight negatives. While Raheem Morris is regarded a good defensive coach, he’s inheriting a lesser pass rusher that lost its two top performers. Dupree and Campbell are both in their 30s, factoring in those decisions. … Mooney hasn’t done much the last two years, but the Falcons believe his effectiveness will increase with better quarterbacking (they signed him to a deal including $26 million guaranteed). Mooney caught 81 passes for 1,055 yards in 2021.

CAROLINA PANTHERS
Key gains: G Robert Hunt (Mia.), G Damien Lewis (Sea.), WR Diontae Johnson (trade), WR Xavier Legette (1st), RB Jonathon Brooks (2nd), LB Josey Jewell (Den.), LB D.J. Wonnum (Min.), DT A'Shawn Robinson (NYG), DE Jadeveon Clowney (Bal.), S Jordan Fuller (LAR). Key losses: DE Brian Burns (trade), DE Yetur Gross-Matos (S.F.), S Vonn Bell (Cin.), LB Frankie Luvu (Was.), CB Donte Jackson (trade), WR DJ Chark (LAC).
Grade: A-
Help out struggling Bryce Young; that was the key offseason mission. With him being an undersized quarterback, it made sense in particular to sign a pair of guards to deals with a combined $70 million in guarantees (the interior of the line was too often overrun last year). They also added some wide receiver help in the first round and via trade (the Steelers didn’t want to re-sign Johnson, but he had three seasons with over 85 catches for them). Hiring Dave Canales away from Tampa Bay might prove to be even more important; he helped turn around another struggling short quarterback last year. Regardless, if things don’t work out, no one will say the Panthers didn’t try to help out their young quarterback. … Brooks should be the best of the rookie running backs but is working his way back from a torn ACL.

CHICAGO BEARS
Key gains: QB Caleb Williams (1st), WR Keenan Allen (trade), WR Rome Odunze (1st), RB D'Andre Swift (Phi.), S Kevin Byard (Phi.), TE Gerald Everett (LAC), S Jonathan Owens (G.B.), C Ryan Bates (Buf.). Key losses: DT Justin Jones (Ari.), WR Darnell Mooney (Atl.), QB Justin Fields (trade), S Eddie Jackson, OL Cody Whitehair (L.V.).
Grade: A
On paper, the Bears had the best offseason. Drafting a franchise quarterback (made possible by a shrewd deal a year ago) was the key move, but they’ve also helped his chances by putting together an elite trio of wide receivers (with Allen and Odunze joining DJ Moore). … The decision to sign Everett to a contract averaging $6 million doesn’t seem to make much sense. He’s not much of a blocker, and the Bears already have a much better player at that position (Cole Kmet). Seems like that money would have been better spent elsewhere. … Similarly, the Bears will be paying Swift $16.5 million over the next two years, indicating they think he’ll be their leading running back. They might have been better served rolling with Khalil Herbert and Roschon Johnson, spending that money on other positions.

DALLAS COWBOYS
Key gains: OT Tyler Guyton (1st), LB Eric Kendricks (LAC), RB Ezekiel Elliott (N.E.). Key losses: DE Dorance Armstrong (Was.), C Tyler Biadasz (Was.), RB Tony Pollard (Ten.), OT Tyron Smith (NYJ), DE Dante Fowler (Was.), CB Stephon Gilmore WR Michael Gallup (cut).
Grade: D-
With salary cap constraints and several huge contracts on the horizon, the Cowboys opted to sit out free agency. They were the only team that didn’t obtain a player with a contract averaging more than $3 million – a 32-year-old linebacker was their top financial commitment. On the plus side, they at least didn’t lose a ton of notable players. Armstrong and Biadasz followed Dan Quinn to Washington on three-year deals averaging $11 and $9.8 million. Pollard underperformed last year, while Smith is a 33-year-old with a long list of injury issues. … With the offensive line needing an influx of talent (and having lost two starters), the Cowboys were fortunate Guyton was still around late in the first round.

DETROIT LIONS
Key gains: CB Carlton Davis (trade), DT D.J. Reader (Cin.), CB Terrion Arnold (1st), DE Marcus Davenport (Min.), CB Amik Robertson (Det.), G Kevin Zeitler (Bal.). Key losses: G Jonah Jackson (LAR), CB Chauncey Gardner-Johnson (Phi.), WR Josh Reynolds (Den.).
Grade: B+
A few plays from their first Super Bowl appearance, the Lions kept most of the players they wanted and were able to add a few key pieces. Most important was upgrading the defense, which they believe they did with Reader, Davenport, Davis and Arnold. The secondary was a particular sore spot last year, so Arnold (5 interceptions at Alabama last year) and Davis look like the most significant additions. … While Reynolds is a nominal receiver, the Lions are now thin at that position, with little behind Amon-Ra St. Brown. Unless they’re really confident Jameson Williams can step up some in his third year, they could be looking to add a receiver before the start of the season.

GREEN BAY PACKERS
Key gains: RB Josh Jacobs (L.V.), S Xavier McKinney (NYG), OT Jordan Morgan (1st). Key losses: G Jon Runyan (NYG), DeVondre Campbell (trade), RB Aaron Jones (cut), LT David Bakhtiari (cut), LB S Darnell Savage (Jac.), S Jonathan Owens (Chi.).
Grade: B
Aaron Jones ended last year by running for over 100 yards in his last five games, at over 5 yards per attempt in all of them. But the Packers believe Jacobs will be an upgrade; he doesn’t catch the ball as well but offers more pop between the tackles. Jacobs is three years younger, and they’re paying him $14.8 million this year (over twice as much as what the Vikings are paying Jones). … Signing McKinney (to a contract averaging $16.8 million) was another uncharacteristic move for a team that’s long built through the draft. These deals underscore that the Packers believe they’re contenders. … Bakhtiari has been an All-Pro but has been plagued by injuries in recent years.

LOS ANGELES RAMS
Key gains: G Jonah Jackson (Det.), LB Jared Verse (1st), RB Blake Corum (3rd), CB Darious Williams (Jac.), S Kamren Curl (Was.), CB TreDavious White (Buf.), TE Colby Parkinson (Sea.). Key losses: DT Aaron Donald (retired), S Jordan Fuller (Car.), C Brian Allen (Cle.).
Grade: C
There’s one big free agent showing up (Jackson, who at $17 million per year becomes the 6th-highest paid guard in the league), along with a pair who signed deals averaging $7.5 million. But it’s hard for that trio to measure up against arguably the best defensive tackle in the history of the game. Donald walked away from a contract averaging $31.7 million. Call that a slight loss and hope the Rams can make up for it by hitting on some picks. Verse had 9 sacks each of the last two seasons for Florida State. Corum gives them another option at running back should Kyren Williams break down or regress.

MINNESOTA VIKINGS
Key gains: DE Jonathan Greenard (Hou.), QB J.J. McCarthy (1st), DE Andrew Van Ginkel (Mia.), RB Aaron Jones (G.B.), QB Sam Darnold (S.F.), LB Blake Cashman (Hou.). Key losses: QB Kirk Cousins (Atl.), DE Danielle Hunter (Hou.), DE Marcus Davenport (Det.), DE D.J. Wonnum (Car.), LB Jordan Hicks (Cle.), WR K.J. Osborn (N.E.), RB Alexander Mattison (L.V.).
Grade: F
The Vikings lost the most impactful pair of players – the top quarterback and the No. 2 defender (at least financially) for a combined total of $69.5 million per year. They also lost two other defensive linemen who signed deals averaging $6-plus million. They’ll definitely be showing up on opening day with a less talented roster. But that probably makes sense, with the team needing to shake things up in order to generate a higher ceiling. Ultimately, the offseason hinges on whether they can develop McCarthy. Reports indicate he wasn’t their first choice in the draft (they tried to trade up to get Drake Maye). … The Vikings at least obtained a couple of good defensive lineman to make up for those three they lost. Greenard isn’t as good as Hunter but is $5.5 million cheaper and 3 years younger. And Van Ginkel is making $3 million more than either Davenport or Wonnum. … The running back swap is definitely an upgrade (with Mattison ending last season as a backup behind Ty Chandler). But Jones is 29 years old.

NEW ORLEANS SAINTS
Key gains: OT Taliese Fuaga (1st), DE Chase Young (S.F.), OT Oli Udoh (Min.), LB Willie Gay (K.C.), WR Cedrick Wilson (Mia.). Key losses: QB Jameis Winston (Cle.), OT Andrus Peat (L.V.), OL James Hurst, WR Michael Thomas (cut).
Grade: C+
Tackle Ryan Ramczyk isn’t listed, but he has a knee issue that might end his career. That would be a considerable loss (he’s been a first- or second-team All-Pro three times). With the Saints having also lost Peat and Hurst (who haven’t been as impressive recently) they were pretty much backed into selecting an offensive lineman in the first round. … With the Saints not having much cap room, they couldn’t afford to bring in anyone noteworthy. Young is the big-ticket item but has battled injuries since his standout rookie season. He’s the only player listed above (gains or losses) who signed a contract averaging over $4 million. … Thomas is a notable name (he caught a record 149 passes in 2019) but hasn’t been a relevant player the last four years.

NEW YORK GIANTS
Key gains: DE Brian Burns (trade), WR Malik Nabers (1st), G Jon Runyan (G.B.), OL Jermaine Eluemunor (L.V.), RB Devin Singletary (Hou.), QB Drew Lock (Sea.), DT Jordan Phillips (Buf.). Key losses: S Xavier McKinney (G.B.), RB Saquon Barkley (Phi.), DT A’Shawn Robinson (Car.), CB Adoree Jackson, TE Darren Waller (retired), QB Tyrod Taylor (NYJ).
Grade: B
The Giants added one of the best defensive players available in Burns, but they also lost two notable starters on that side of the ball: McKinney (who’s now the 4th-highest paid safety in the game), and Robinson (who’s getting $7.5 million per year from the Panthers). … The Giants didn’t want to pay Barkley, so now they’ll be playing against him twice per year. Singletary doesn’t have the same playmaking ability but has shown some ability to play at a functional level and is making less than half as much, freeing up dollars to be used elsewhere. Singletary averaged 67 rushing and 17 receiving yards in his 12 starts last year, with 5 TDs. … Nabers looks like an elite talent who’ll be their best receiver since Odell Beckham was in his prime. He’ll help the offense, but there could be issues at time with the quarterbacking being good enough to get him the ball. … While the Giants didn’t go hard after the offensive line, they at least invested in a couple of upgrades (Runyan and Eluemunor are now on the books for a combined $17 million per year).

PHILADELPHIA EAGLES
Key gains: RB Saquon Barkley (NYG), DE Bryce Huff (NYJ), CB Quinyon Mitchell (1st), S Chauncey Gardner-Johnson (Det.), LB Devin White (T.B.), LB Zack Baun (N.O.), QB Kenny Pickett (trade). Key losses: C Jason Kelce (retired), DE Haason Reddick (trade), DT Fletcher Cox (retired), RB D’Andre Swift (Chi.), S Kevin Byard (Chi.), LB Nicholas Morrow (Buf.), QB Marcus Mariota (Was.).
Grade: B
Barkley is better than anybody the Eagles have had at running back in recent years, but this isn’t necessarily a great fit for him to put up big numbers. He probably won’t be used extensively as a goal-line runner, and the Eagles have tended to be lousy at throwing passes to running backs. He’ll work behind a better line than he had in New York, at least. … Mitchell might be their most impactful addition. Corner was a disaster last year, especially late in the year. Mitchell was the guy they wanted in the draft, and they were excited when he slipped to 22nd overall. … Huff isn’t quite as good as Reddick (the two were essentially traded) but is three years younger and under contract for two additional seasons. … The Eagles lost one big veteran to retirement on both sides of the ball, which could hurt the team’s culture – Kelce and Graham were both team leaders.

SAN FRANCISCO 49ERS
Key gains: DE Leonard Floyd (Buf.), DL Yetur Gross-Matos (Car.), DT Maliek Collins (trade), LB DeVondre Campbell (G.B.), WR Ricky Pearsall (1st), DT Jordan Elliott (Cle.). Key losses: DE Arik Armstead (Jac.), DE Chase Young (N.O.), QB Sam Darnold (Min.). DT Javon Kinlaw (NYJ), DL Sebastian Joseph-Day (Ten.), DE Randy Gregory (T.B.).
Grade: C
San Francisco added four players who’ll make $5-10 million per year, all on the defensive side of the ball. (Collins and Campbell became available because the Texans and Packers decided they were no longer worth the $10-plus averages they signed for a year ago.) But Armstead and Young signed deals averaging at least $3 million more than any of those guys, and they lost four other lesser defensive linemen. If you look at the top four defensive linemen coming in versus the top four going out, the 49ers are now spending $5 million less on that position. … Pearsall won’t necessarily play much this year, but Deebo Samuel has problems staying healthy and Brandon Aiyuk isn’t happy with his contract.

SEATTLE SEAHAWKS
Key gains: DT Byron Murphy (1st), S Rayshawn Jenkins (Jac.), LT George Fant (Hou.), LB Tryel Dodson (Buf.), LB Jerome Baker (Mia.), G Laken Tomlinson (NYJ), QB Sam Howell (Was.). Key losses: G Damien Lewis (Car.), LB Jordyn Brooks (Mia.), LB Bobby Wagner (Was.), S Quandre Diggs, S Jamal Adams, TE Colby Parkinson (LAR), TE Will Dissly (cut), QB Drew Lock (NYG).
Grade: D
With a new coaching staff, the Seahawks were willing to part with some holdovers, particularly on the defensive side. They released both of their safeties, while also parting with two starting linebackers. But Seattle didn’t spend much on incoming players. Jenkins signed a deal averaging $6 million, while Fant and Dodson are making just over $4 million. … The big break of the offseason came in the draft, when Murphy lasted a half dozen spots longer than he probably should have. The general consensus is that he might develop into one of the top half-dozen tackles in the game – stout against the run, and with more pass-rush ability than most at that position. … There was talk at the OTAs about Tomlinson being a leader of the offensive line, but he’s making the minimum, $12 million less than the player he’s replacing (Lewis).

TAMPA BAY BUCCANEERS
Key gains: C Graham Barton (1st), S Jordan Whitehead (NYJ), DE Randy Gregory (S.F.), G Ben Bredeson (NYG). Key losses: CB Carlton Davis (trade), DE Shaquil Barrett (Mia.), LB Devin White (Phi.), G Aaron Stinnie (NYG).
Grade: C
Tampa Bay’s offseason was mostly about keeping last year’s division champ together, with new contracts for Baker Mayfield and Mike Evans. The Bucs didn’t lose anything too notable. Barrett and White are notable names, but they’ve played their best ball. They signed one-year deals worth only $7 and $4 million. We’re listing Stinnie because he started most of last year, but he signed for close to the minimum. Davis is their most notable outgoing name, but they picked up a third-round pick in that trade with the Lions. … The Bucs signed only a few free agents, and all to contracts averaging $4.5 million and less. Bredeson is making only $3 million, but that’s at least over twice as much as Stinnie. Whitehead was the most notable offseason purchase, and with a price tag of only $9 million for two years.

WASHINGTON COMMANDERS
Key gains: QB Jayden Daniels (1st), DE Dorance Armstrong (Dal.), C Tyler Biadasz (Dal.), LB Frankie Luvu (Car.), LB Bobby Wagner (Sea.), RB Austin Ekeler (LAC), S Jeremy Chinn (Car.), TE Zach Ertz, TE Ben Sinnott (2nd), WR Luke McCaffrey (3rd), G Nick Allegretti (K.C.), DE Dante Fowler (Dal.). Key losses: RB Antonio Gibson (N.E.), WR Curtis Samuel (Buf.), QB Sam Howell (trade), CB Kendall Fuller (Mia.), S Kamren Curl (LAR), OT Charles Leno, C Nick Gates, QB Jacoby Brissett (N.E.), TE Logan Thomas (S.F.).
Grade: B+
With the Commanders coming off a 4-13 season, it makes improvement easier (they don’t have much that other teams are interested in). Washington signed three players to deals averaging about $10 million (Armstrong, Biadasz, Luvu); it didn’t lose anybody who’ll make that much. … The success or failure of the Daniels pick will ultimately determine how Washington’s offseason went. He was dynamic at Louisiana State, but his slender build and reckless playing style make durability a major concern. … The Commanders are plugging in new starters in three other skill-position spots, but none like big upgrades. Ekeler slipped enough last year that it’s fair to wonder if he’s better than Gibson (they signed comparable contracts). McCaffrey might develop into a viable slot receiver, but unlikely that he’s better than Samuel immediately. At tight end, they’re counting on some combination of Ertz (who’s 33) and Sinnott (who’ll probably need time to develop). … The Commanders made the worst kicker signing, giving Brandon McManus a $1.5 million signing bonus and then cutting him after sexual harassment allegations.

If you are a purchaser of the 2024 magazine, this full report is also available as a PDF in magazine format in the Your Stuff section.