The first wave of NFL free agency is winding down, and there are now plenty of deals to assess.
In the team free agency rankings we released ahead of the negotiation window earlier this month, we dove into the data from the previous four years, 2021 through 2024. We logged cash spent on each free agent during that span. We also logged the value produced — using Football Reference’s Approximate Value metric — by each player while he was on his free-agent contract. By comparing these two figures, we determined how much value each free agent produced per $1 million in cash spent, or AV per million. And, in turn, we ranked teams at large by how much value they were producing per $1 million cash spent on the free agent market.
Now we can use that data to try and project the best value deals from the early returns in this 2025 free agent class. From 2021 to 2024, the league average in AV per million was .713. That is the benchmark we will use in our projections. Any player who produces more than .713 AV per million can be classified as an above-average return on investment. For reference, quarterback Russell Wilson had the highest AV per million of any free agent signed in the 2024 class. He finished with 9 AV in 11 starts for Pittsburgh. The Steelers paid Wilson just $1.21 million in cash.
What we are looking for are low-cost signings that have the chance to outperform their bargain deals.
Here are our eight best potential value deals of the first wave of free agency.
(All contract figures courtesy of Over the Cap.)
Levi Onwuzurike, IDL, Detroit Lions
2025 cash: $4 million
Interior defensive linemen got paid in this free-agent cycle. Milton Williams signed with the New England Patriots for $26 million in average per year (APY). Osa Odighizuwa returned to the Dallas Cowboys on a contract worth $20 million in APY. Javon Kinlaw got $15 million in APY from the Washington Commanders, while Tershawn Wharton got just over $15 million in APY from the Carolina Panthers. Onwuzurike had more pressures (47) and a higher pass rush win percentage (11.9) than both Wharton and Kinlaw in 2024, according to Pro Football Focus. He returned to the Lions on a far cheaper deal.
Onwuzurike only finished the season with 1 1/2 sacks, and perhaps that lack of box score production affected his market. But the upside here feels tremendous if Onwuzurike can maintain his level of pressure. An AV per million above 2.0 seems well in reach. Only 34 free agents from the 2024 class hit that number in 2024.
Joshua Uche, edge, Philadelphia Eagles
2025 cash: $1.92 million
The Eagles were the clear winners of free agency in 2024. It is no coincidence they went on to win the Super Bowl. Philadelphia received above-average AV per million returns on several free agents, including linebacker Zack Baun (4.0), running back Saquon Barkley (1.2) and guard Mekhi Becton (1.5). Baun was in the top 10 in AV per million after transitioning to off-ball linebacker and having a breakout All-Pro season.
If the Eagles are going to hit big on a 2025 free agent value signing like they did with Baun last year, Uche is a good bet. He is cheap. He had an 11 1/2-sack season with the Patriots in 2022. He will be playing alongside one of the best defensive tackles in football in Jalen Carter. And we saw in 2024 what kind of impact Carter had on his teammates, including Williams and edge rusher Josh Sweat, both of whom left in free agency. The big question with Uche is whether he can earn playing time in a deep edge rusher room in Philly. Nolan Smith Jr., Bryce Huff and Jalyx Hunt all return. The Eagles also signed Azeez Ojulari to a one-year deal in free agency.
Nick Westbrook-Ikhine, WR, Miami Dolphins
2025 cash: $3.2 million
One big theme in our AV-per-million player rankings: Low-cost receivers with a pathway to playing time tend to produce substantial returns on investment. The Washington Commanders had two receivers in our 2024 top 10: Olamide Zaccheaus (4.64 in AV per million) and Noah Brown (4.13). Zaccheaus made $1.29 million in cash and caught 45 passes for 506 yards and three touchdowns. Brown made $1.21 million in cash and caught 35 passes for 453 yards and one touchdown.
Westbrook-Ikhine fits the profile in this year’s class. He has good size at 6-foot-2, 211 pounds and is a legitimate weapon in the red zone. His skill set is a logical complement to Tyreek Hill and Jaylen Waddle. Westbrook-Ikhine had nine touchdowns in 2024, tied for eighth among receivers. Six of those came in the red zone, also tied for eighth.
Richie Grant, S, San Francisco 49ers
2025 cash: $1.5 million
Grant, a former second-round pick to the Atlanta Falcons in 2021, started 32 games over the 2022 and 2023 seasons. But he lost his starting job when coach Raheem Morris and his staff took over in 2024. He should have a chance to compete for a starting job with the 49ers, who lost Talanoa Hufanga in free agency. Grant will have to beat out 2023 third-round pick Ji’Ayir Brown and Jason Pinnock, who San Francisco signed to a one-year, $2.2 million deal in free agency.
If Grant wins the job and plays starting snaps, there is a clear avenue toward a high AV per million. The 49ers have a history of finding value on cheap safety contracts. In 2022, they paid $1.12 million in cash for veteran Tashaun Gipson Sr., who started all 17 games. Gipson’s 6.25 AV per million that season ranks second for any free agent during the 2021-24 window.
Ifeatu Melifonwu, S, Miami Dolphins
2025 cash: $3 million
The Dolphins had to retool their safety room during this year’s free agency period. Jevon Holland signed a big deal with the New York Giants. Jordan Poyer, who turns 34 in April, is a free agent. The Dolphins, at least partially because of their tight cap situation, had to look for cheap answers at the position. They signed Ashtyn Davis to a one-year, $2.5 million deal and they signed Melifonwu to a slightly more expensive contract. Both of these deals have the potential for AV-per-million upside.
Melifonwu, a college cornerback who transitioned to safety in Detroit, has a higher ceiling. He has battled injuries and only played more than 10 games one time in his first four NFL seasons with the Lions. But when he played a full season in 2023, Melifonwu showed a ton of promise, including as a blitzer and in his ball production.
Najee Harris, RB, Los Angeles Chargers
2025 cash: $5.25 million
Harris is positioned to be a workhorse back for the Chargers, who cut Gus Edwards and have not yet re-signed J.K. Dobbins. Harris has not missed a game in his four NFL seasons. He has carried the ball at least 255 times and rushed for at least 1,000 rushing yards in all of those seasons. He has never finished a season with less than 6 AV. He has averaged 7.75 AV per season. This could end up being more of a base-hit signing.
If Harris can rediscover some of his rookie-year form, particularly as a pass catcher, this could become a more significant return on investment. In 2021, Harris caught 74 passes on 94 targets for 467 yards. His quarterback that season was Ben Roethlisberger. Harris produced a career-high 10 AV. The Steelers have been in QB purgatory since then, even if they got some viable production out of Wilson in 2024. Justin Herbert is quite willing to hit his check down if he has the running back to do it. Just ask Austin Ekeler.
This signing is reminiscent of the Devin Singletary deal with the Houston Texans in 2023. Singletary was entering his age-26 season and coming off his rookie deal that offseason. He was moderately productive over his first four seasons. He signed a one-year deal with the Texans and made $3.125 million in cash. That year, Singletary played all 17 games and produced 2.24 AV per million. Harris is entering his age-27 season. The cash figures are slightly elevated. But in terms of percentage of the cap, Singletary was at 1.4 percent. and Harris is at 1.9 percent.
Van Jefferson, WR, Tennessee Titans
2025 cash: $1.67 million
The Titans have some decisions to make before the start of the 2025 season, including who their starting quarterback will be. They have the No. 1 pick, which they could use on a quarterback. They could very well add another receiver in the draft. But as it stands, Jefferson has a chance to be the No. 2 option for whoever is throwing the football, behind Calvin Ridley.
This feels similar to the Zaccheaus and Brown deals, who were playing alongside No. 1 Terry McLaurin. The Commanders struck gold with quarterback Jayden Daniels. At the price, there is plenty of room for a strong return on Jefferson, who in 2021 caught 50 passes for 802 yards and six touchdowns with the Los Angeles Rams.
Cornelius Lucas, OT, Cleveland Browns
2025 cash: $3.25 million
Lucas has made a career out of being a trustworthy swing tackle. The 33-year-old has double-digit career starts on both the right and left side, but he has only started more than eight games in one season.
The Browns do not have a reliable plan for left tackle on the roster. Dawand Jones, a 2023 fourth-round pick, has landed on IR in each of his first two seasons. The team signed Teven Jenkins but he’s primarily been a guard. Jedrick Wills is a free agent. Not to mention that right tackle Jack Conklin turns 31 in August and has battled multiple serious knee injuries, most recently in 2023. If Lucas starts a bunch of games at tackle for the Browns this season, he will be high up in our AV per million rankings next March.
(Top photos of Levi Onwuzurike and Najee Harris: Jorge Lemus / NurPhoto via Getty Images and Candice Ward / Getty Images)
