Dynasty fantasy football managers have known this for a long time, but it truly feels like there is no offseason in the NFL.

Between the NFL Combine, free agency, the NFL Draft, and training camp, there is always news for fans and fantasy managers to pay attention to. That has certainly been the case this week, with free agency news hitting every time I check my phone.

We've already had blockbuster trades, big contracts, and a few surprising cuts. As dynasty managers, we have to process all this news and adjust player valuations in real time to stay ahead of our leaguemates, so I'm going to break down the most important items that have caught my attention this week.

Here are the biggest dynasty themes I'm thinking through as we wrap up the major free agency news and head towards the NFL Draft.

The Veteran RBs Are Not Safe

It's becoming common knowledge that the RB position is the strongest skill position group in the 2025 NFL Draft. If fantasy managers know it, you better believe NFL teams are aware as well. The depth of this RB class has a few impacts that dynasty managers need to be aware of. The biggest one is that almost none of the veteran RBs are safe in their roles until after the NFL Draft.

We've already seen this play out to some degree with the free agent running backs getting relatively modest contracts, despite another big jump in the salary cap. Granted, it wasn't a particularly strong free agent class at the RB position, but the top free agent (Najee Harris) only got a one-year deal with just $5.25 million guaranteed.

The depth and high-end talent of this rookie group, combined with the resurgence of the running game during the 2024 season, means that a lot of teams will add serious competition to their backfield in the draft. I would almost guarantee that there will be multiple eyebrow-raising picks in the first three rounds of the NFL Draft that threaten the workload of RBs who are currently considered top-15 dynasty assets at the position.

In my opinion, players like Breece Hall, De'Von Achane, Kyren Williams, Bucky Irving, James Cook, Josh Jacobs, and Chase Brown are less secure in their roles for 2025 than most dynasty managers are willing to admit. They won't all be supplanted by rookies, but I expect multiple of them to take a meaningful hit to their dynasty value at the draft.

So what is the takeaway for dynasty fantasy football managers? If you can get premium value for one of these supposedly 'safe' RBs, I think you should really consider it, even if your roster is ready to contend right now. Even more importantly, I wouldn't trade for any of those veteran RBs until we see where the rookies land.

The Raiders Are Kinda Fun Now??

OK, I'm getting a little ahead of myself. The Raiders still have work to do, but things are trending in the right direction. Less than a month ago, I would have put them among the least fantasy-friendly situations in the NFL. They've been in quarterback hell for multiple years and probably weren't in a position to address the position without trading up in the draft. That all changed when they traded for Geno Smith.

Geno is 34 years old, so he isn't the long-term answer at the position, but he can make them competitive for a few years while Pete Carroll and Co. build the roster and change the character of the organization. The trade made it clear they aren't interested in a full tank and rebuild, so I was curious to see how they would approach free agency. Interestingly, almost all of their signings so far have been on the defensive side, except for one addition to the offensive line.

I was encouraged by the fact that they didn't overpay for mediocre talent at the RB, WR, or OL positions, which opens the door for them to focus on the offensive side of the ball at the NFL Draft, particularly in the first three rounds. If they draft offensive players with their first three picks, we could suddenly be looking at an exciting young core around Geno Smith.

Another important factor for fantasy is the fact that Chip Kelly is now the offensive coordinator for Las Vegas. Kelly is known for running an up-tempo system, which should create plenty of opportunities for the skill players in this offense. Now that they actually have a competent QB, I can start to see how things actually come together and create a decent environment for fantasy scoring.

Brock Bowers is already the dynasty TE1 by a decent margin in my book, and Smith raises his floor and ceiling in the short term. If you can trade for Bowers, I would strongly recommend it, he is already a top-12 overall dynasty asset for me in PPR formats. Unfortunately, whoever has him in your league will probably demand an absurd trade offer, which will make it difficult to get anything done.

The more actionable thing for dynasty managers is that I now view Las Vegas as one of the better rookie RB landing spots. Their offensive line still needs some work, but I expect this to be a functional offense with tons of touches available to whoever ends up as their RB1. Assuming they take someone in the first three rounds of the NFL Draft, that player should be able to produce right out of the gate.

Don't fall into the trap of undervaluing the Raiders in 2025 just because they have been bad recently. This team has taken real steps to improve their offensive outlook, which makes me very interested to see who they add in the NFL Draft. I expect to be higher than consensus on any early RBs or WRs that they draft and would suggest targeting those players in your rookie draft.

What Do We Do With The Steelers WRs?

The second major trade featuring Seattle sent DK Metcalf to the Pittsburgh Steelers in exchange for a second-round pick. He immediately received a five-year extension for $150 million, which makes Metcalf among the highest-paid players at the position. The trade compensation and contract ensures Metcalf will be a big part of the Steelers' offense, but the future is much less certain for Pickens. Pittsburgh may choose to let him walk after this year or even trade him away before the season begins.

Another complicating factor is that we don't know who will be throwing them the ball in 2025 and beyond. They seem to be heading towards a short-term solution like Aaron Rodgers or Kirk Cousins, which doesn't exactly inspire confidence. We already saw Pickens in a similar situation in 2024 with Russell Wilson, and he only put up 900 yards and three scores despite not having any real target competition.

As of right now, I am moving both Metcalf and Pickens down my dynasty ranks due to the uncertainty at the QB position and the competition that they create for each other in a low-volume passing offense.

Of the two, I would be more willing to trade away Pickens because I'm less convinced about his long-term future. He's flashed tremendous upside but has also struggled with effort and focus at times. He has a wider range of outcomes than Metcalf does moving forward, but the consensus view on his talent seems to be favorable enough that I think you could get real value for him in a trade.

To tie together a few of these topics, I like the idea of trading away Pickens after the NFL Draft and targeting a veteran RB who doesn't have one of the top rookies joining their backfield. For example, if a team like Green Bay or Cincinnati doesn't add a day-two rookie, trying to trade Pickens for Josh Jacobs or Chase Brown would be a great move for a contending roster.

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