NFL Rumors: Calvin Ridley free agency holdup will screw over the Falcons

Jacksonville Jaguars wide receiver Calvin Ridley hit the open market as the best available wideout in a free agency class that was thinned by the franchise tag. The top available players at every position were scooped up almost immediately after the legal tampering period began on Monday. Only one of The Athletic's top 20 free agents remains unsigned: Calvin Ridley (No. 13).

With a strong wide receiver class in the upcoming 2024 NFL Draft, only two veteran receivers have been signed during the legal tampering period. The Atlanta Falcons signed Darnell Mooney and the Jaguars signed wideout Gabe Davis. Both wideouts agreed to three-year, $39 million deals.

The reason why Ridley hasn't been signed — and where he will eventually end up — can likely be found in the details of the trade that sent him to Jacksonville in November 2022.

Calvin Ridley could keep Falcons from obtaining a second-round pick

If Jacksonville signs Ridley to a contract extension, they would have to send their second-round draft pick to the Atlanta Falcons. Yet, there's a loophole that Jacksonville can use to avoid sending Atlanta their second-round pick, and it's likely the reason Ridley has not signed with a team yet.

Ridley was selected by the Falcons with the No. 26 overall pick in the 2018 NFL Draft. He developed into a second-team All-Pro receiver prior to being suspended for the entire 2022 NFL season for violating the NFL's gambling policy. During the 2022 NFL season, the Falcons traded Ridley to the Jaguars for a 2023 fifth-round pick and a conditional pick in the 2024 NFL Draft.

The conditional pick in the 2024 NFL Draft had to meet the following criteria:

• Atlanta would receive a fourth-round draft pick if Ridley was on Jacksonville's roster in Week 1 of the 2023 NFL season.
• Atlanta would receive a third-round pick if Ridley recorded 75 receptions or 1,000 receiving yards.
• Atlanta would receive a second-round pick if Ridley signed a contract extension with Jacksonville.

The first condition was met when Ridley played in the Jaguars' Week 1 game against the Indianapolis Colts during the 2023 NFL season. The second condition was met as well, since Ridley finished the season with 1,016 receiving yards.

The Falcons already own the Jaguars' third-round pick in the 2024 NFL Draft due to those trade conditions, but the Jaguars can avoid having to send their second-round pick by simply waiting a few days to sign Ridley.

If Ridley signs with the Jaguars after the new league year begins on Wednesday, March 13 at 4:00 p.m. ET, he would be joining the team as a free agent rather than signing a contract extension. Thus, that pick would remain a third-rounder instead of improving to a second-rounder.

The New England Patriots have also pursued Ridley, but he reportedly wants to return to Jacksonville.

Besides the Jaguars and Patriots, a third team could reportedly be lurking as a dark-horse candidate for Ridley. Still, Ridley reportedly wants to return to Jacksonville — and it seems that's exactly what will happen.

Ridley's current market value would earn him a four-year, $70.3 million deal for an average annual salary of $17.6 million, according to Spotrac.