SEATTLE – The period from the NFL scouting combine through the free-agent signing period is often referred to by those in the league as “the silly season.”
It’s the time of year when trade rumors and debates about players’ futures run rampant.
Proof anew came Friday morning when conflicting reports emerged concerning Seattle Seahawks receiver DK Metcalf.
A report from Emerald City Spectrum stated the Seahawks “have spoken with the Packers, Patriots, and one unknown team extensively this week on Metcalf’s availability.”
The report further stated the Packers “believe they have a formidable offer on the table that no other team can rival,” which includes a high draft pick and a young receiver on a rookie contract.
A report from a website covering the Green Bay Packers, The Leap, stated it could confirm that Green Bay “has been working on this and has an offer they think can land Metcalf.”
Shortly after those two reports emerged another from the Athletic saying, in essence, never mind.
“There has been no contact or negotiations as of now” between the two teams, the report stated.
So what to believe?
League sources indicated the Seahawks are not shopping Metcalf and nothing is imminent.
But given Metcalf’s contract situation – he has one year remaining – other teams are likely to call John Schneider, the Seahawks’ general manager and president of football operations, to get a feel for where things stand.
So where do things stand with Metcalf?
Schneider was actually asked that exact question when he met the media at the NFL combine this week.
“Where do things stand?” Schneider responded a little bit incredulously in response. “I’m not sure. He’s on our team. He’s a big, strong, fast, physical receiver.”
That answer certainly allows for some reading into, which is a particularly popular pastime around the NFL this time of year, anyway.
An eternal truth is that few players are untradeable (Patrick Mahomes, Josh Allen, Lamar Jackson to name a few) and there is probably – if not certainly – a price at which Metcalf could be had.
Seattle’s trade of Russell Wilson to Denver in 2022 showed just about anything can happen.
Also true is that the rumor mill will continue to percolate as long as Metcalf’s long-term future is unsettled.
Metcalf, as noted, has one year remaining on his contract. He has an $18,000,471 nonguaranteed salary for 2025 and a cap hit of $31.875 million.
That hit is set to be the third highest for any receiver in 2025, behind only the $38.3 million of Davante Adams of the Jets (who almost certainly won’t play the season on that deal) and $35.4 million of CeeDee Lamb of Dallas.
Fourth is Tyler Lockett at $30.893. Seattle is expected likely to move on from Lockett at some point between now and the beginning of the free-agent negotiating period on March 10.
Both Lockett’s and Metcalf’s contracts were structured as is typical – with a ballooning cap hit in the final season with both sides expecting that a new contract will replace it at that point to bring down the cap hit; or, that the player may simply be released.
The Seahawks are $6.833 million over the cap, so Seattle will have to make some moves to get under by March 12. Lockett is among the most likely, but Seattle could also cut safety Rayshawn Jenkins, and is in talks with Uchenna Nwosu about redoing his deal, which could also mean some significant savings. Seattle could also look to cut or redo the deal of defensive end Dre’Mont Jones and could also cut defensive lineman Roy Robertson-Harris, which would save $6.6 million.
Seattle isn’t cutting Metcalf, and it’s unlikely he’ll simply play out that deal and become a free agent in 2026.
So that means either a new contract soonish or a trade.
A trade, though, doesn’t necessarily help the Seahawks a ton in terms of cap space – a deal done before June 1 would mean Seattle taking a $21 million dead cap hit while saving $10.875 million.
That shifts a little with a post-June 1 trade to a $13.875 million dead hit and $18,000,471 in savings.
Any trades agreed to cannot be officially consummated until the new league year on March 12.
Seattle’s first contractual priorities, though, are re-signing linebacker Ernest Jones IV – who can be a free agent on March 12 – and redoing the deal for quarterback Geno Smith.
Smith also has one year left on his contract.
But his deal takes priority because he’s a quarterback and it’ll be the most expensive Seattle has this season. Clarifying Smith’s situation will make it clearer what the Seahawks have to work with as they deal with other extensions.
Schneider said on an appearance on Seattle Sports 710 Thursday afternoon he intended to meet with Smith’s representatives on Friday and begin the process of hammering out a new deal.
“We hope to, yeah, get an extension with Geno,” Schneider said. “Geno knows he’s our guy. We love him and we want to keep going forward.”
Metcalf’s contract would more likely be dealt with in the spring or summer.
Receivers, of course, can generally be more easily replaced than quarterbacks and Metcalf’s 2024 season created much discussion about his value.
He caught 66 passes for 992 yards after having had 1,048 or more yards receiving in three of the previous four seasons.
But as Macdonald noted this week, Metcalf was en route to one of his best seasons before suffering a knee injury in Week 7 at Atlanta.
After that game, Metcalf was on pace for 85 receptions and 1,379 yards, the latter of which would have broken his team record.
He missed two games due to the knee injury and Macdonald noted that Metcalf was “not being 100%” through the second and third quarter of the season, leading to his numbers falling off some.
“But we want to get the ball to DK,” Macdonald said. “We want to make sure that he’s a focal point in our offense, for sure.”
The hope is the scheme of new offensive coordinator Klint Kubiak will make that a bit easier.
And if Seattle didn’t have Metcalf – after presumably also moving on from Lockett – the question would be “what then?”
The group of receivers available in the draft isn’t regarded being as strong at the top or deep overall as last season – and Seattle obviously has other needs it would like to address at the top of the draft, as well.
The free-agent market includes mostly veterans with question marks.
Metcalf turns 28 in October, having proven to be one of the most durable and consistent receivers in the NFL – exactly the kind of player a team that wants to win now would want to keep around, instead of selling off for draft picks.
And winning now appears to be exactly what the Seahawks are trying to do.
Seattle won 10 games in 2024 as Macdonald did some learning on the job in his rookie season in a division in which every team has some issues and appears there for the taking in 2025.
It’s Schneider’s job to listen when teams come calling.
But there is a pretty big step from getting some interest in Metcalf to receiving an offer worth legitimately considering. Until Metcalf signs a new deal, though, expect the rumor mill to continue to churn.