NFL teams have doled out hundreds of millions of dollars in free agency during the 2025 offseason, but they may not be done spending yet.
Several prominent NFL stars are still negotiating contract extensions. This includes a handful of players who are set to become free agents in 2026, young talents nearing the end of their rookie contracts and MVP-level performers who are being paid at a below-market rate.
Not all of these players will ink long-term extensions, and some could eventually be traded if they reach an impasse with their teams.
Nonetheless, NFL fans will be closely watching players like Micah Parsons, Lamar Jackson and T.J. Watt as they look to lock in lucrative – and perhaps record-breaking – contracts ahead of the 2025 season.
Here’s what to know about negotiations between the teams and players seeking extensions.
Micah Parsons
‘I understand that it’s up to [Jerry Jones],’ Parsons told reporters in June. ‘He gives the green light on everything, so hopefully something is done by next month.’
Despite Parsons’ optimism, his representation hadn’t yet had any contract extension talks with Jones at the time of his comments, per USA TODAY’s Tyler Dragon.
Still, neither side was concerned with the pace of negotiations. Parsons even acknowledged he could potentially benefit from waiting until players like T.J. Watt or Trey Hendrickson eventually sign their big-money deals.
‘It’s going to cost them more,’ Parsons told Clarence Hill of All City DLLS of the Cowboys waiting to sign his extension.
Lamar Jackson
Baltimore Ravens general manager Eric DeCosta acknowledged in a June appearance on the ‘BMore Baseball Podcast’ the team was exploring a contract extension with Jackson.
‘We’ve had some conversations before the draft, after the draft, in person last week,’ DeCosta said. ‘I think we’re in the introductory sort of stage of looking at what an extension might look like.’
DeCosta cautioned the Ravens had ‘a lot of business’ to conduct with several players at the time of the interview. Jackson is under contract through the 2027 NFL season, so Baltimore has spent the 2025 offseason inking extensions with players under shorter-term contracts, including running back Derrick Henry and receiver Rashod Bateman.
Still, the Ravens would likely prefer to extend Jackson before the 2026 NFL offseason, as his cap hit will rise to $74.5 million, per Over the Cap.
And the Ravens appear to have every expectation they will eventually sign Jackson to another record-breaking extension.
‘The value is the top. When Lamar gets paid, he’s going to be the highest paid player in football, just like he was last time,’ John Harbaugh told reporters in May. ‘I think every contract he signs probably until he decides to hang up his cleats, he’s going to be that guy.’
T.J. Watt
At the time, Watt’s contract made him the highest-paid defensive player in NFL history. Now, he ranks seventh among edge rushers in average annual value (AAV), and well behind Myles Garrett’s $40 million AAV price tag.
Watt’s decision to skip minicamp has prompted trade rumors about the pass rusher. ESPN reported ‘multiple teams’ reached out to the Steelers about the veteran pass rusher after the team traded Minkah Fitzpatrick to the Miami Dolphins as part of the Jalen Ramsey trade.
However, ESPN’s Adam Schefter reports the Steelers ‘are adamant they want Watt to finish his career in Pittsburgh,’ while NFL Network’s Tom Pelissero reports they ‘have no interest’ in trading the perennial All-Pro.
Trey Hendrickson
Hendrickson and the Bengals appeared to be heading toward a split earlier in the offseason. The 30-year-old received permission from the Bengals to seek a trade – marking the second consecutive year he had requested a trade away from the team – and criticized the team for consistently failing to communicate with him about a potential contract extension.
However, Hendrickson and the Bengals resumed contract talks in mid-June, according to ESPN’s Jeremy Fowler. The report came just over a month after Hendrickson released a statement saying there had been ‘no communication’ between the two parties following the conclusion of the 2025 NFL Draft on April 26.
‘The offers prior to the draft did not reflect the vision we shared and were promised last offseason if I continued to play at a high level,’ the statement read. ‘Coaches are aware of these past conversations. Rather than using collaboration to get us to a point to bring me home to the team, THEY are no longer communicating. I have been eagerly awaiting a resolution of this situation, but that’s hard to do when there is no discussion and an evident lack of interest in reaching mutual goals.’
It’s worth noting the Bengals also remain embroiled in a contract dispute with rookie edge rusher Shemar Stewart. It isn’t clear whether Cincinnati’s inability to reach a deal with its first-round pick has impacted its approach to negotiations with Hendrickson.
Sauce Gardner
The New York Jets had opened contract extension discussions with both Gardner and Garrett Wilson as of June, per ESPN’s Jeremy Fowler.
How have those talks gone? Gardner described his dealings with the Jets as ‘productive’ in a July 2 appearance on ‘The Pat McAfee Show.’
‘We have our goals, in terms of numbers and stuff like that, and the Jets are aware of that,’ Gardner said. ‘And I’m aware of the rest of my peers, like [Jaycee Horn], [Derek Stingley Jr.], even [Patrick Surtain II] got paid, obviously before me, but those are all guys that are well-deserving of the money that they got. It’s definitely something that my team and the Jets are talking about.’
Gardner did not provide a timetable for reaching an extension. He is under contract with the Jets through the 2026 NFL season, as New York exercised his $20.2 million fifth-year option in April.
Garrett Wilson
As mentioned, the Jets didn’t just open negotiations with Gardner; they also did with Wilson. He told reporters at OTAs there had been ‘a few discussions, here and there’ about an extension.
‘I’m hopeful I’m a Jet for life and that we get this thing rolling and that all of our best days are ahead of us,’ he said at the time.
The comments were a departure from his tone at the end of New York’s disappointing 2024 season, when he was asked point-blank whether he wanted to stay with the Jets long-term.
‘I don’t know, man,’ Wilson told reporters in December. ‘I just do whatever, go about my day, be where my feet at and if they do [offer an extension], that would be a blessing. That would be awesome. I love the Jets. At the end of the day, they were the ones that believed in me. I can’t be worrying about all that. Just going to finish these three games the right way.’
Terry McLaurin
McLaurin held out from Washington Commanders minicamp as he seeks a new contract. It stemmed from the receiver being ‘frustrated with the lack of progress on a long-term deal,’ per Fox Sports’ Jordan Schultz.
McLaurin, 29, is entering the final season of a three-year, $68.4 million deal in 2025 and is hoping to cash in after posting a fifth-consecutive 1,000-yard season and a career-high 13 touchdowns in his first season working with Jayden Daniels.
Will that happen soon? Sports Illustrated’s Albert Breer intimated extension talks were ‘not in a great place’ in late June. However, he acknowledged ‘there’s plenty of time to get something done’ before the season.
James Cook
Cook is hoping to get a new contract with the Buffalo Bills and is reportedly seeking a deal paying him $15 million in AAV. The two sides were far apart in their hopes for his next contract, as Bills general manager Brandon Beane expressed in March, and haven’t yet bridged the gap.
Despite this, Cook decided to attend Buffalo’s mandatory minicamp and participated in all three sessions.
‘I like my money,’ Cook said when explaining his decision to participate, per ESPN.
Cook expects to be in attendance at training camp as well. The bigger question is whether he will participate fully in workouts or ‘hold in’ to gain leverage in contract negotiations.
‘I don’t know, man,’ Cook said. ‘We will see when camp comes.’
