The trade deadline has passed, and NFL rosters are largely set for the rest of the season. There wasn’t a blockbuster move that changed the league overnight, but several notable deals could still shape the playoff race.
Deadline trades are always a balancing act. Teams have to decide how much they believe in their chances right now, and how much they’re willing to give up if things don’t work out. The Colts are a reminder of how badly that calculation can age: Indianapolis gave up two first-round picks for Sauce Gardner last year, convinced it was close to contention, and now faces a rebuild without a top draft pick.
The Jaguars were the most aggressive buyers this time around. They acquired safety Jessie Bates from Atlanta for a second-round pick, added Davon Godchaux to the defensive line, and made the deadline’s biggest deal by bringing in defensive tackle Jordan Davis from Philadelphia. The thinking seems straightforward: improve a defense that can stop a few more drives, and trust the team’s strong offense to win games.
Here’s a look at which teams and players came out ahead, and who may be second-guessing the deadline.
Winner: Kirk Cousins and the Vikings
Kirk Cousins was the biggest winner for Minnesota. He had made no secret of wanting to return, and he did what the Raiders needed from him: provide veteran guidance to Fernando Mendoza and help manage the early part of the season.
Now Las Vegas can hand Mendoza the starting role and get him real game experience. Cousins, meanwhile, gets a chance to chase a Super Bowl rather than spend the final months of the season holding a clipboard.
Minnesota deserves credit for making a serious effort to bring him back. A third-round pick may have been more than Cousins was worth, but the Vikings didn’t have much leverage. Everyone knew they wanted him, and that pushed the price up. Still, the team avoided giving away too much of its future. It wasn’t a home-run move, perhaps, but it was a sensible step that could help without changing the franchise’s long-term outlook.
Loser: Kyler Murray
Murray came to Minnesota on a one-year prove-it deal, and things went badly. It’s hard to see him getting another starting job next season. A role as a well-paid veteran backup, like Jameis Winston’s, may be his best path forward.
Whether Murray wants that kind of job is another question. It wouldn’t be a huge surprise if he left football and tried to revive his athletic career in baseball. MLB might suit him well, particularly since its season ends before the annual release of Call of Duty.
Winner: Las Vegas Raiders
The Raiders turned a quarterback they no longer needed into a third-round pick. That’s good business: they can move on to Mendoza while adding a useful draft asset for the future. There isn’t much more to it.
Winner: San Francisco
San Francisco made a smart deadline-day move by adding Keenan Allen to its receiving group. He’s a savvy veteran who knows his role and handles the small details well. He’s no longer the dominant receiver he was with the Chargers, but he remains dependable, can keep drives moving, and makes life easier for a quarterback. Getting him for a sixth-round pick looks like a bargain.
The 49ers had also brought DeForest Buckner back in a trade with the Colts a week earlier. Those two veteran additions should help steady a roster that has been dealing with problems and give the team a boost heading toward the playoffs. I like both deals, especially since San Francisco didn’t have to spend heavily to make them.
Loser: Jonathan Taylor
Jonathan Taylor, widely expected to be one of the deadline’s biggest trade candidates, is staying with the Colts. Indianapolis turned down several offers for its star running back, apparently holding out for a huge return that never came.
Keeping Taylor is understandable from the team’s perspective, but it’s difficult not to feel for him. He seemed to have been told he would be traded, said goodbye to Colts fans, and thanked the city. Now he’s back with a struggling team that has moved several players. A trade could have put him on a contender and given him a chance at a deep playoff run. Instead, he’s still in Indianapolis.
Reports say the Colts rejected offers that included a second-round pick and additional compensation. That makes you wonder what kind of return they were expecting for a 27-year-old running back, talented as Taylor may be.
Winner, with a caveat: Jacksonville Jaguars
Jacksonville is clearly stronger than it was a week ago, particularly on defense. The Jaguars made major additions, though they paid a steep price to do it. It’s easy to say “forget the picks” as a fan—until the team falls short and has few good options to improve.
The pressure is on now. Insisting Jacksonville has to reach the Super Bowl would be too much, but making the AFC Championship Game feels close to a requirement. If the Jaguars spend this aggressively and then go out early, it will raise questions about whether they judged their chances correctly. They’ll also go without a first-round pick for a second straight year; the 2025 selection went toward the Travis Hunter trade. That cost will eventually matter. The question is whether Jacksonville can win enough now to make it worthwhile.
There are good reasons to think this could be the Jaguars’ year, but there are reasons for caution, too. They’re 6-2 against a schedule with a strength-of-schedule rating of -0.81, meaning their opponents have been weaker than average overall. Their two losses came against the Broncos and Texans, both strong teams near the top of the conference. For now, Jacksonville’s outlook feels like a toss-up.
