Day one of NFL free agency often sees desperate teams commit to serious overpayments to ensure they improve at positions of weakness. But for as much attention as those deals draw, they can overshadow the underrated deals that always seem to slip through the cracks. These five in particular stick out.
RB Rico Dowdle, Pittsburgh Steelers
Contract details: 2 years, $12.25 million
It was pretty easy to miss the Pittsburgh Steelers signing Rico Dowdle, especially since they traded for WR Michael Pittman Jr. and signed a pair of CBs in Jamel Dean and Asante Samuel Jr. as well, but Dowdle might wind up being the best value addition the team makes this offseason. Not only does he have familiarity with new Steelers head coach Mike McCarthy from their time in Dallas, but he's coming off back-to-back rock-solid seasons.
In 2024, Dowdle rushed for 1,079 yards on an average of 4.6 yards per carry, transforming a Cowboys rushing attack from putrid to respectable in the process. In 2025, Dowdle ran for over 1,000 yards again despite starting just 11 games for the Carolina Panthers, once again averaging 4.6 yards per carry.
Dowdle has even been overlooked by his own teams at times, yet he's rushed for over 1,000 yards with solid efficiency. He's even recorded 39 receptions in each of the last two seasons as well, so he's versatile. There's every reason to believe he'll be an upgrade over Kenneth Gainwell, and even if he isn't, his contract is dirt cheap. This is a home run of a deal.
LB Devin Lloyd, Carolina Panthers
Contract details: 3 years, $45 million ($25 million guaranteed)
Jaelan Phillips is the signing Carolina Panthers fans are head over heels for, and I get why, but if we're talking strictly value, Devin Lloyd might be a bigger win. Lloyd had an inconsistent four-year run with the Jacksonville Jaguars, but he is coming off his best season to date, posting career highs with five interceptions and 10 QB hits while earning his first Pro Bowl nod.
The 27-year-old is an ascending player, which makes him an ideal fit on an ascending team in Carolina, and his cost was not nearly as high as many anticipated. The Panthers hope to make another leap in 2026, and their greatly improved defense can help them accomplish that goal.
OG David Edwards, New Orleans Saints
Contract details: 4 years, $61 million ($45 million guaranteed)
The New Orleans Saints hope that Tyler Shough can be their quarterback of the future, and that Travis Etienne Jr. can lead their backfield for the next several years. They can give themselves the best chance of these things happening by bolstering their offensive line, and adding David Edwards from Buffalo lays one heck of a foundation.
Edwards was arguably the best guard available in free agency, and the Saints got him on very reasonable terms. Etienne was the flashy move, but it's hard for teams to win with a subpar offensive line. The Saints struggled in both pass protection and run blocking last season. Edwards should help in both areas, and at 28 coming off back-to-back impressive seasons, he should have more years of strong play in him.
S Bryan Cook, Cincinnati Bengals
Contract details: 3 years, $40.25 million ($14 million guaranteed)
It's no secret that the Cincinnati Bengals needed to upgrade their defense in a big way this offseason, and while Bryan Cook is far from a household name, he should really help their secondary. Cook was tasked with playing a bigger role as the Kansas City Chiefs' Justin Reid replacement and turned into one of their few bright spots, particularly against the run.
This comes in handy for a Bengals defense in particular that allowed the most rushing yards per game in the NFL in 2025. Cook won't light up the stat sheet, but adds the kind of steady presence and tackling ability that Geno Stone lacked. For reference: Cook has a total of 163 tackles to just nine missed tackles in the last two seasons. Stone, on the other hand, racked up 185 tackles and a whopping 41 missed tackles.
Cook is the far more reliable and efficient player at this point in their careers. To top it all off, less than half of his contract is guaranteed, giving the Bengals an easy out if, somehow, this deal doesn't work as envisioned.
OT Jermaine Eluemunor, New York Giants
Contract details: 3 years, $39 million ($25.45 million guaranteed)
Say what you want about the New York Giants, but their offensive line is as good as it's been in quite some time, and having Andrew Thomas and Jermaine Eluemunor at the tackle spots is a big reason why. Thomas is the headliner, but Eluemunor has quietly been everything the Giants could've hoped for and more on the right side over the past couple of seasons.
His run blocking isn't where it should be yet, but Eluemunor ranked 20th out of 89 offensive tackles with a 76.7 pass blocking grade last season according to PFF. That'll play. Re-signing Eluemunor had to be the Giants' No. 1 priority this offseason, ensuring they'd give Jaxson Dart the best possible protection, and the terms are extremely team-friendly, especially when considering the fairly weak tackle class in free agency.
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